Research Methodology: Introduction and Process
- 2. 1. Instructor: Amit Sethi 2. Go through Syllabus and Course Plan 3. Invest in Text Book Business Research Methods: Naval Bajpai Marketing Research: Naresh Malhotra Marketing Research: Rajan Nargundkar Marketing Research: David Cooper 2
- 11. Learning Objective • To understand what is business research.
- 12. What is research
- 13. Dictionary Meaning Research •Careful study that is done to find and report new knowledge about something •The activity of getting information about a subject
- 14. Guess the Industry • The industry is expected to grow from $2 billion in 2013 to $29 billion in 2020, representing a growth of 60 per Cent CAGR as per CLSA report • It is about 10% of the country’s organized retail market
- 16. Some Challenges in Industry
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- 19. HUL Response • “The pictures you posted online show that our brand was used in this incident. Vim is one of our iconic brands with some great consumer franchise. We felt bad about it, not to mention what you went through. Here is a small gesture from our side to cheer you up.” 19
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- 21. Snapdeal does it again, sends stones instead of iPhone 4S • Dated: 12 Dec • Fortunately customer had chosen the cash on delivery (COD) option.
- 22. Man buys MacBook Pro on Snapdeal, gets a Rs 600 heater instead!
- 23. Snapdeal messes up again, delivers second- hand phone
- 26. Introduction Business researchers systematically collect, compile, analyze, and interpret data to provide quality information based on which a decision maker will be able to take a decision in an optimum manner. Conducting research to deal with any problem is a scientific, systematic, and interlinked exercise, which requires sound experience and knowledge.
- 27. Defining Business Research Business research method is a systematic and scientific procedure of data collection, compilation, analysis, interpretation, and implication pertaining to any business problem. Business research is defined as the systematic and objective process of gathering, recording, and analyzing data for aid in making business decisions (Zikmund, 2007). Cooper and Schindler (2009) define business research as a systematic enquiry that provides information to guide managerial decisions.
- 28. Objectives of Research • To gain familiarity with phenomenon or to achieve new insights into it. • To portray accurately the characteristics of a particular individual, situation or a group. • To determine the frequency with which something occurs or with which it is associated with something else. • To test a hypothesis of a causal relationship between variables.
- 29. What image do you have in your mind when thinking about intelligence? • Research Reveals Intelligent People Stay up Later, Do More Drugs • A study published in the journal Personality and Individual Differences analyzed over 20,000 people and concluded that individuals with higher IQ levels have different sleep cycles, compared to people with an average intelligence • According to a study conducted by the National Child Development, children with high IQs in the United Kingdom are more likely to consume psychoactive drugs in their adult years than those with lower IQs.
- 30. • A study published in the Journal of Epidemiology and Community Health revealed that people who achieved high scores in IQ tests as children were more likely to experiment with illegal substances as grown-ups.
- 31. Course Objectives: • Ability to use critical thinking and scientific approach to formulate different research problems • Ability to understand competing approaches in research design, methods, their conceptual differences and apply them in different research contexts. • Ability to use statistical software for data analysis and interpretation to find solutions for different research problems and report the findings thereof.
- 32. Business Research Quotes •Business research can give you new up to date powerful information that could help you break into a market or take a market to a higher level. •Business Research is creating new knowledge. Business Research’s Goal is to inspire senior management to move to the front end of the curve.
- 33. • Top FMCG companies like Dabur, Marico, Bisleri and ITC, which have already started pushing products through the online route, are gearing up to launch e- commerce portals • Coca-Cola’s Coke2Home initiative 33
- 34. Why Research in Business????? • Because Big Firms….like…. • Nokia • Infosys • Walmart • …………come across failures!!!!! 34
- 35. Why Research is Important??? • Walmart……World leader in Retail • Could not maintain its leadership in Japan & Korea. • Infosys has leadership crisis as many senior management people has left • Once , Nokia was No. 1 brand in Mobile handset ….Now is at no. _____. 35
- 36. Why?????? • Because probably their knowledge about market… competition…..probably………… CONSUMERS……..was not CORRECT!!! • How to acquire correct Knowledge???? 36
- 37. Research is there to answer your such queries
- 38. Learning Objective • To develop conceptual knowledge on research methods
- 39. What Research Is Not • Research isn’t information gathering. • Research isn’t the transportation of facts. • While both of these are tools used during research, they are not sufficient for research.
- 41. Basic Applied
- 42. Basic research is generally not related to a specific problem and its findings cannot be immediately applied. Applied research directly addresses the problem at hand. Applied research is launched by the firm, agency, or individual facing a specific problem.
- 44. Situation • A group of person have decided to start the business, what they need to do?
- 45. Situation • They have decided to go for mobile manufacturing and they want to enter in any other country? • What company needs to do?
- 46. Situation • For improvements in existing products quality or making of new products, what company needs to do?
- 47. Situation • For Expansion of its operations in new country, What does company needs? • Finance • For Selecting the Finance, What company needs to do?
- 48. Situation • As they are entering new country, to make a decision whether employees will be chosen from host country or home country, What company needs to do?
- 49. Situation • Suppose company has decided to enter India now company is confused whether to go for traditional medium or Digital Medium to promote its products and achieve good sales volume. • What company needs to do?
- 50. • What do you suggest?
- 52. Online Vs Traditional Media
- 53. Article •Marketers beware: there's no running away from digital channels - Business Standard: Dated 17 Nov, 2014
- 55. • Smartphone users interact with their phones 150 times per day - every six minutes. • Seventy-nine per cent of 18-44 year olds have their smartphones with them 22 hours per day, with the vast majority checking their phone within 15 minutes of waking up
- 56. • Smartphone users are checking in to Facebook 14 times per day. • They are engaging with brands through traditional channels, but now, the majority of people are also multi-screening: 60 per cent of smartphone owners report they are likely to be using another device when watching TV (and even more for tablet owners).
- 57. • This change in behaviour challenges brands and marketers to rebuild how and where their brands engage consumers.
- 60. Research Thinking • Why? What are you searching/ wish to find out? • What? Subject/Domain---Context • Problem Statement---Key Research questions: refined statements of the specific components of the problem. ??? Introspect, Introspect, Introspect.
- 62. Home Task • Read the Case: Surf Superconcentrate faces a super washout in Japan • https://books.google.co.in/books?id=- _qgAowhVZgC&pg=PA56&lpg=PA56&dq=Surf+Superconcentrate+faces +a+super+washout+in+Japan&source=bl&ots=X1CQnPqsjI&sig=74kZ8B IDdejMCu4vdK- TlFK3uqM&hl=en&sa=X&ved=0ahUKEwjjl8vJn6bKAhVCto4KHYtIB1o Q6AEIGzAA#v=onepage&q=Surf%20Superconcentrate%20faces%20a %20super%20washout%20in%20Japan&f=false or See Whatsapp of your group
- 63. Discussion Questions • According to you: • What is most important factor while hiring? • During an interview, HR managers mostly focus upon? • Some of factors which comes In play when HR conducts the interview?
- 65. Surf Superconcentrate Case • Product from Unilever available in 150 countries. • 85% of profits from overseas
- 66. Surf Superconcentrate Case • Launching of Surf Superconcentrate into Japanse Market • Achieved share of 14.5% initially during test marketing, which feel to 2.8% when product was introduced nationally
- 67. Surf Superconcentrate Case • Where did they go wrong? • Product Packaging:- Convenience was major attribute. Function of Product:- Did not dissolve in water because of weather condition and using of low agitation washing machine Product was not designed to work in new machine
- 68. Surf Superconcentrate Case • Positioning Issue: Positioned as Fresh Small but did not work there • Unilever failed to identify critical attributes
- 69. Surf Superconcentrate Case • Appropriate qualitative research was required to form suitable research design • Although Surf continued to perform well in several markets and is third largest in washing detergent.
- 74. Learning Objectives • To be able to develop skill how to make research design for a particular research
- 76. Introduction Research is all about finding something, the absence of which may distort our ability to take informed decisions (Nwokah et al., 2009). Systematic Study and from problem identification to presentation of findings steps are interrelated
- 77. Business Research Process Design A research design is the detailed blueprint used to guide a research study towards its objective. It details the procedures necessary for obtaining the information needed to structure or solve research problems.
- 79. Step 1: Define Research Problem The process of business research starts with the problem or opportunity identification. Any delay in problem identification and solution implementation; and the opportunity identification and encashment may become harmful to the organization.
- 81. Management which can identify symptoms or the effects of the problem, but to understand the reasons of the problems, a systematic research has to be adopted. Who will conduct the same:- Business Research firm or business researcher
- 82. The management problem is concerned with the decision maker and is action oriented in nature. For example, the management problem offers a psychological pricing to enhance the quantum of sales. This management problem focuses on the symptoms. Research problem is somewhat information oriented and focuses mainly on the causes and not on the symptoms. This is to determine the consumer’s opinion on psychological pricing and to estimate their purchase behaviour for the psychological price being offered. Management Problem and Subsequently the Research Problem
- 83. Management Decision Problem Vs. Research Problem Management Decision Problem Research Problem Should a new product be To determine consumer preferences introduced? and purchase intentions for the proposed new product. Should the advertising To determine the effectiveness campaign be changed? of the current advertising campaign. Should the price of the To determine the price elasticity brand be increased? of demand and the impact on sales and profits of various levels price changes.
- 84. • Research questions (RQs) are refined statements of the specific components of the problem.
- 85. Step 2: Review of Literature • As name suggests, it is review of all literature done on your study • A thoughtful and insightful discussion of related literature builds a logical framework for the research.
- 86. The first part is to develop a theoretical model to quantify an attitude. For example, to estimate the “buying intentions” for a particular Nutrition product, first, the researcher has to prepare a theoretical model to measure an attitude like buying intentions.
- 87. Theoretical model to measure the buying intention
- 88. Step 3: Formulating Hypothesis Hypothesis 1: “Brand image” has a significant liner impact on the buying intention. Hypothesis 2: “Brand awareness” has a significant liner impact on the buying intention. Hypothesis 3: “Price” has a significant liner impact on the buying intention. Hypothesis 4: “Availability” has a significant liner impact on the buying intention. Hypothesis 5: “After-sales services” has a significant liner impact on the buying intention.
- 89. The researcher can also test the combined impact of these five variables on the buying intention. The proposed multiple regression model will be Hypothesis 6: All the five factors in combination have a significant linear impact on the buying intention.
- 90. Step 5: Design Research The research approach is formulated is the next step. In the light of the “type of data,” questions are framed and scientifically placed in the questionnaire.
- 91. Types of Research All researches can be broadly classified into three groups: exploratory research, descriptive research, and causal research. These three methods differ in terms of different aspects of conducting the research.
- 92. Step 6: Collect Data • The researcher has to also decide whether he or she has to go for a survey or has to adopt the observation methods and decide whether the research will be based on the field data collection or it will be a laboratory experiment.
- 93. Step 7: Analyze Data • After feeding the data in the spreadsheet, data analysis is launched..
- 94. Step 8: Interpret and Report It has been already discussed that after applying data analysis techniques, a statistical result is obtained. There is need to interpret the result and present the non-statistical findings derived from the statistical result. A meaningful interpretation of the result is a skilful activity and is an important aspect of research. The researcher has to determine whether the result of the study is in line with the existing literature.
- 97. Why literature review? • It helps the researcher to understand: - What is already known? - What is needed to be known? • Provides a solid theoretical foundation for the Proposed Study • Helps to frame valid research - Methodologies - Approaches - Goals - Research Question of Proposed study
- 98. Function of Review of literature • Shows how your study fills the GAP • The necessity of your study • Sets Boundaries
- 101. Review of Literature Must Include • A summary of existing Knowledge • Critical Evaluation
- 102. Must Contain Questions • What has been done before? • What have other said? • What is the relevance? • What is the difference? • Agreement/disagreement • Are there flaws?
- 103. Steps in a Literature Review 1. Establish research focus 2. Identify where to search 3. Select appropriate search terms 4. Organize research history and Determine relevant literature 5. Analyze, Synthesize and Summarize evidence into a report
- 104. Establishing Research Focus • It is important to define the problem or area which you wish to address. • Having a purpose for your literature review will narrow the scope of what you need to look out for when you read.
- 105. Starting Point • Research History Survey Universities databases Abstracts Indices in books
- 107. Some • books (monographs, text books, reference books); • articles from journals, whether print or electronic (but make sure electronic journals have been subject to the peer review process); • newspaper articles; • historical records; • commercial reports and statistical information; • government reports and statistical information; • theses and dissertations; • other types of information which may be relevant to your particular discipline.
- 108. Step 3: Select Appropriate Search Terms A search term is a term used to find information on your topic Search terms can include: • Key words Example: For a literature review on “ Effect of Service Quality on Customer satisfaction” possible key words may include: Service Quality, Customer Satisfaction, SERVQUAL, Service Quality & Customer Satisfaction. • Author • Title • Journal or publication • Other descriptors
- 109. Step 4: Organizing Your Research Determine Relevant Literature Document your search process by keeping all the records. Do photocopy or save the same in computer To determine what is relevant literature: • Check article abstracts for summaries of research design and findings instead of reading entire article • Consider type of measurement and analysis • Consider contribution of the article/research to the field • Does it help you know what to do or what not to do in your study? • Organize information using a “Review Matrix” Review Matrix.xls
- 113. Step 6: Analyze, Synthesize & Summarize Evidence in a Report Briefly summarize findings Synthesize literature by identifying common themes Differentiate b/w what is “known” and “not known” Identify topics of debate Evaluate and analyze findings Identify relevance of data to your research project Remember: Reference all citations & create a bibliography
- 115. What is a Good Literature Review? A good literature review: Includes a clear research question or purpose Makes an argument for the necessity of your research and/or service, program, etc. Explains methods and theories if review is to be used for a larger study or program Is well-organized, clear and concise Is written in chorological manner
- 118. Learning Objectives • To understand various types of research designs
- 119. Classification of different types of research
- 120. Exploratory Research As the name indicates, exploratory research is mainly used to explore the insight of the general research problem. This is used for the following purposes: A.Obtaining Background Information B. Research Problem Formulation or Defining it More Precisely C.Identifying and Defining the Key Research Variables D.Developing Hypotheses
- 122. The refined theoretical model to measure the buying intentions (obtaining inputs from exploratory research)
- 123. Exploratory Research Example • An interview survey among clerical staff in a particular office to find out what motivates them to increase their productivity (that is, to see if a research problem can be formulated).
- 124. Methods of Conducting Exploratory Research
- 125. Projective Techniques Projective technique is achieved by presenting the respondents with ambiguous verbal or visual stimulus materials, which they need to make sense of by drawing from their own experiences, thoughts, feelings, and imagination before they can offer a response. In the field of business research, the projective techniques are broadly classified as word association, completion task, construction task, and expressive task.
- 128. • Completion Task: (Sentence Completion/ Story Completion) I love my family and always take care of the same because___________ • Construction Task:- Nutrition product_________ • Expressive Task:- The respondents are asked to role-play, act, or paint a specific concept or situation
- 131. Descriptive Research As evident from the name, descriptive research is conducted to describe the business or market characteristics. The descriptive research mainly answers who, what, when, where, and how kind of questions. It attempts to address who should be surveyed, what, at what time (pre- and post-type of study), from where (household, shopping mall, market, and so on), and how this information should be obtained (method of data collection). It can be further classified into cross-sectional study and longitudinal study.
- 132. Methods of Descriptive Research • Secondary data analyzed in a quantitative as opposed to a qualitative manner • Surveys Panels • Observational and other data
- 133. Descriptive Research Example • A description of how the selected clerical staff are rewarded and what measures are used to record their productivity levels.
- 134. Cross-Sectional Study Cross sectional research design involves the collection of information from a sample of a population at only one point of time. Sample surveys are cross-sectional studies in which the samples happen to be a representative of the population.
- 135. Longitudinal Study Longitudinal study involves survey of the same population over a period of time. In a longitudinal study, the sample remains the same over a period of time. In a cross- sectional design, a representative sample taken from the population is studied at only one point of time.
- 136. Causal Research Causal research is conducted to identify the cause-and-effect relationship between two or more business (or decision) variables. Many business decisions are based on the causal relationship between the variables of interest. As discussed, the descriptive research is able to answer who, what, when, where, and how kind of questions but not the “why” part of the question. The causal research is designed to address the why part of the question.
- 137. Uses of Casual Research To understand which variables are the cause (independent variables) and which variables are the effect (dependent variables) of a phenomenon To determine the nature of the relationship between the causal variables and the effect to be predicted METHOD: Experiments
- 138. A relative comparison of exploratory research, descriptive research, and conclusive research
- 139. A Comparison of Basic Research Designs Objective: Characteristics: Methods: Discovery of ideas and insights Flexible, versatile Often the front end of total research design Expert surveys Pilot surveys Secondary data: qualitative analysis Qualitative research Describe market characteristics or functions Marked by the prior formulation of specific hypotheses Preplanned and structured design Secondary data: quantitative analysis Surveys Panels Observation and other data Determine cause and effect relationships Manipulation of one or more independent variables Control of other mediating variables Experiments Exploratory Descriptive Causal
- 140. Home Task • Citi Bank Group Exploratory, Descriptive and Causal Research, • You needs to submit report on how Citi Bank has used the approaches of research. • Marketing Research by Naresh Malhotra, Pg no. 82
- 141. Citi Bank • Leading provider of financial products in 100 countries • In order to maintain the leadership position, it must continually research target customers to meet their needs • Keeps on checking the customer satisfaction, awareness to take better decisions and use research approaches
- 142. Citicorp Banks on Exploratory, Descriptive, and Causal Research 1) A taskforce was created to better define the market parameters to include all the needs of the many Citicorp branches. A final decision was made to include Americans 55 years of age or older, retired, and in the upper half of the financial strata of that market.
- 143. 2) Exploratory research in the form of secondary data analysis of the mature or older market was then performed and a study of competitive products was conducted. Exploratory qualitative research involving focus groups was also carried out in order to determine the needs and desires of the market and the level of satisfaction with the current products. In the case of senior citizens, a great deal of diversity was found in the market. This was determined to be due to such factors as affluence, relative age, and the absence or presence of a spouse. Citicorp Banks on Exploratory, Descriptive, and Causal Research
- 144. 3) The next stage of research was brainstorming. This involved the formation of many different financial packages aimed at the target market. In this case, a total of 10 ideas were generated. Citicorp Banks on Exploratory, Descriptive, and Causal Research
- 145. 4) The feasibility of the 10 ideas generated in step 3 was then tested. The ideas were tested on the basis of whether they were possible in relation to the business. The following list of questions was used as a series of hurdles that the ideas had to pass to continue on to the next step. • Can the idea be explained in a manner that the target market will easily understand? • Does the idea fit into the overall strategy of Citicorp? Citicorp Banks on Exploratory, Descriptive, and Causal Research
- 146. Is there an available description of a specific target market for the proposed product? Does the research conducted so far indicate a potential match for target market needs, and is the idea perceived to have appeal to this market? Is there a feasible outline of the tactics and strategies for implementing the program? Have the financial impact and cost of the program been thoroughly evaluated and determined to be in line with company practices? In this study, only one idea generated from the brainstorming session made it past all the listed hurdles and on to step 5. Citicorp Banks on Exploratory, Descriptive, and Causal Research
- 147. 5) A creative work-plan was then generated. This plan was to emphasize the competitive advantage of the proposed product as well as better delineate the specific features of the product. 6) The previous exploratory research was now followed up with descriptive research in the form of mall intercept surveys of people in the target market range. The survey showed that the list of special features was too long and it was decided to drop the features more commonly offered by competitors. Citicorp Banks on Exploratory, Descriptive, and Causal Research
- 148. 7) Finally, the product was test marketed in six of the Citicorp branches within the target market. Test marketing is a form of causal research. Given successful test marketing results, the product is introduced nationally. Citicorp Banks on Exploratory, Descriptive, and Causal Research
Editor's Notes
- #40: While both of these are tools used during research, they are not sufficient for research.