Research introduction

Introduction to
Business Research
Dr Raju Indukoori

Content
1. Research
2. Business Research
3. Manager – Researcher
4. Business Research Info
2Dr Raju Indukoori

1. Research
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Research Relevant
• Argument
• Debate
• Discuss
• Read
• Search
• Research
• Philosophy
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• Analysis
• Data
• Project
• Report
• Survey
• Study

What is Research?
• Searching again and again for knowledge.
• Art of scientific investigation.
• Scientific and systematic search for pertinent information on an issue.
• A careful investigation / inquiry t for new facts in any branch of
knowledge.
• A movement from the known to unknown as a voyage of discovery.
• Systematized effort to gain new knowledge.
• Study of materials and sources to discover facts.
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Who Does Research?
• Students
• Professors
• Local, State and Central Governments
• Business Entities
• Non Business organizations
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Why Research?
• Knowledge acquisition.
• Award of Degree / Diploma / Certification.
• To know the situation or comprehend an action.
• To understand historic happenings.
• Identify a problem or source of the problem.
• Arrive solution/s for a given problem or set of problems.
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2. Business Research
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What is Business Research?
• It is a systematic inquiry that provide information to guide
managerial decisions.
• It is a process of planning, acquiring, analyzing and
disseminating relevant data, information and insights to
decision makers in was that mobilize the organization to take
appropriate actions to maximize business performance.
• Variety of Research projects are grouped under the label
business research.
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Why should we study
Business Research?
• Information before selecting a course of action
• To do a high-level research study
• Evaluate and resolve a current management dilemma
• Establish a career in research
• Business Consultancy
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Scope of Business Research
• Entrepreneurship
• Finance
• Human Resources
• Marketing
• Operations
• Strategy
• Supply chain
• Business Intelligence
• Markets
• Economy
• Demography
• Technology
• Monetary Aspects
• Government Policy
• Political Influence
• Competition
• Products and Services
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Why Business Needs Research?
Managers
1. Global and domestic competition is more vigorous.
2. Managers need better Information.
3. Reduce risk in managerial decision making process.
4. Research provides you with the knowledge and skills
needed for the fast-paced decision-making environment.
5. Maturing of management as a group of disciplines
6. Stake holders demanding greater influence
7. More complex decisions
8. More government intervention

Why Business Needs Research?
Technology
1.Explosive growth and influence of the internet
2.Greater computing power and speed
3.New perspectives on established research methodologies
4.Variety of Information technologies and data sources
5.Organizations are increasingly practicing data mining and data
warehousing.

3. Manager – Researcher

Hierarchy of Information Based
Decision Makers
Top Tier
Visionaries
Middle Tier
Standardized Decision Makers
Base Tier
Intuitive Decision Makers

Business Manager-Researcher
Relationship
• Manager’s obligations
– Specify problems with clarity
– Provide adequate information related to the problem
– Access to insider information sources
• Researcher’s obligations
– Develop a creative research design
– Provide solutions to important business questions

Business Manager-Researcher
Conflicts
Researcher
• Researcher’s isolation from manager and his team.
• Inability of the researcher to consider corporate culture
and political situations.
Manager
• Researcher posed as threat to company’s personal
status.
• Limited exposure of management to research.
• Information bias to glorify the corporation or to protect
corporation from data raiders.

Business Research Info

Types of Commercial Research
• Product Research
• Market Research
• Economic Research
• Marketing Research
• Business Research
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Product Research Driven Industries
• Pharmaceuticals
• Health Care
• Electronics
• Information Technology
• Media
• Advertisement
• Fashion Technology
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Who Conducts Business Research?
Internal
1. Media Companies
2. Wholesale Distributors
3. Retail Distributors
4. Industrial Goods & Services Producers
5. Consumer Goods & Services Producers
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External
1. Business Research Firms
2. Communication Agencies
3. Consultants
4. Trade Associations

External Sources of Business Research
1) Business Research Firms
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# Source Description
1 Custom Researchers: Taylor Nelson
Sofres (TNS).
Need based unique research design.
2 Full Service Research firms: NFO World
Group, Taylor Nelson Sofres (TNS) Inter
Search.
Variety of services with quantitative and
qualitative methodologies, solutions etc.
3 Methodology Specialists: Yahoo, Net IQ
for web content development.
Subset of Specialty Research Firms
4 Proprietary Methodology Researchers :
ACNeielsen, Gallup.
A research program owned by a single firm.
5 Specialty Research Firms: Envirosell,
Design Forum, MORInsight
Specialty in methodology, product, industry,
process, participant group, region.
6 Syndicated Data Providers: Yahoo and
ACNielsen.
Industry specific.

2) Communication Agencies
1 Advertising Agencies Small in Size
2 Direct Marketing Agencies Small in Size
3 Public Relations Agencies Small in Size
4 Sales Promotion Agencies Small in Size
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3) Consultants
1 Academic Consultants Research Universities /Institutions
2 General Business Consultants Qualitative and Quantitative.
3 Marketing Consultants Qualitative and Quantitative.
4 Omnibus Researchers: Light Speed
Research, Business Advantage.
Quick turnaround in few days.
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4) Trade Associations
1 Business Specialties Functional or Product or service specific
2 General Business Any business
3 Research Specialties Research verticals
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Top 10 Research Companies
# Corporation Area of Research Website Revenue
(USD millions)
1 VNU Market Research www.vnu.com 3,050.00
2 IMS Health Pharma and Health Care www.Imshealth.com 1381.80
3 Information
Resources
Consumer Packaged Goods www.infores.com 554.30
4 Westat Business www.westat.com 381.60
5 Taylor Nelson
Sofres
Drug sample www.tnsofres.com 1290.10
6 The Kantar Group Media www.kantargroup.com 1,002.10
7 Arbitron Marketing strategies for
electronic media
www.arbitron.com 273.60
8 NOP World CRM www.nopworld.com 336.60
9 Ipsos Market research www.ipsos.com 644.20
10 TNS NFO Marketing research www.nfow.com 171.60
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Concepts Check
1. What is business research? Why should there
be any question about definition of research?
2. Distinguish between omnibus studies and
syndicated research studies
3. Distinguish between full service researchers
and specialty researchers.
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My Questions on
Making Research Decisions – 1
A Sales force manager needs to have
information in order to decide whether to create
a custom motivation program or purchase one
offered by a consulting firm. What are the
dilemmas the manager faces in selecting either
of these alternatives?
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My Questions on
You are the manager of the retail division of a
major corporation. Your firm has 35 stores
scattered over four states. Corporate head
quarters asks you to conduct n investigation to
determine whether any of these stores should
be closed, expanded, moved, or reduced. Is
there a possible conflict between your roles as
researcher and manager? Explain
30Dr Raju Indukoori

My Questions on
The new president of an old, established company is facing a
problem. The company is currently unprofitable and is, in the
president’s opinion, operating in-efficiently. The company sells
a wide line of equipment and supplies to the dairy industry.
Some items it manufactures, and many it wholesales to dairies,
creameries, and similar plants. Because the industry is
changing in several ways, survival will be more difficulty in the
future. In particular, many equipment companies are bypassing
the wholesalers and selling directly to dairies. In addition,
many of the independent dairies are being taken over by large
food chains. How might business research help the new
president make the right decisions?
31Dr Raju Indukoori

My Questions on
You have received a business research report
done by a consultant for your firm, a life
insurance company. The study is a survey of
customer satisfaction based on a sample of 600.
You are asked to comment on its quality. What
will you look for?
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My Questions on
As area sales manager for a company
manufacturing and marketing outboard engines,
you have been assigned the responsibility of
conducting a research study to estimate the
sales potential of your products in the domestic
(US or Canadian) market. Discuss key issues and
concerns arising from the fact that you, the
manager, are also the researcher.
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For Exercises
1)
http://advertising.utexas.edu/_world/index.asp
2) Check out for online survey, sampling and
study agencies of your personal sources.
34Dr Raju Indukoori

Research introduction

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Research introduction