Business research methods notes

Meaning of research: research in common parlance refers to a search for knowledge.

Types of research:

1. Descriptive research v/s analytical research:

Descriptive research includes surveys and fact finding enquiries of different kinds. In social
sciences and business research we quite often use the term ex-post-facto research for descriptive
research studies. The main characteristic of this method is that the researcher has no control over
the variables; he can only report what has happened or what is happening. Most ex-post facto
projects are used for descriptive studies. Ex post facto studies also include attempts by
researchers to discover causes even when they cannot control the variables.
Analytical research the researcher has to use facts of information already available, and analyze
these to make a critical evaluation of the material.

2. Applied research v/s fundamental research:

Applied research aims at finding a solution for an immediate problem facing a society or an
industry/business organization.
Fundamental research is mainly concerned with generalization and with the formulation of a
theory. Gathering knowledge for knowledge’s sake is termed as ‘pure’ or ‘basic’ research.
Research concerning some natural phenomenon or relating to pure mathematics are examples of
fundamental research.

3. Quantitative research v/s qualitative research

Quantitative research is based on the measurement of quantity or amount. It is applicable to
phenomenon that can be expressed in terms of quantity.
Qualitative research is concerned with qualitative phenomenon, i.e., phenomenon that is elating
to or involving quality or kind.
4. Conceptual research v/s empirical research
Conceptual research is that related to some abstract idea(s) or theory. It is generally used by
philosophers and thinkers to develop new concepts or interpret existing ones.
Empirical research relies on experience or observation alone, often without due regard for
system and theory. It is data based research, coming up with conclusions which are capable of
being verified by observation or experiment.

5. Deductive research v/s inductive research

Deductive research is concerned with developing a hypothesis (or hypotheses) based on
existing theory, and then designing a research strategy to test the hypothesis.
Inductive research “involves the search for pattern from observation and the development of
explanations – theories – for those patterns through series of hypotheses

Criteria of a good research

1) systematic
2) logical
3) empirical
4) replicable

Meaning of marketing research

It is a process of identifying a marketing research problem then collecting data, processing it and
analysing the data, getting the results and then interpretation of results.

Scope of marketing research:

 Consumer research
 Advertising research
 Sales research (e.g. Sales forecasting)
 Product & brand research
 Public relations research
 Research for sales promotion
 Competitor’s research
  New product development
 Market research (e.g. Assessing market potential)
Etc.

Ethical issues in business research

o Honesty
o Objectivity
o Integrity
o Carefulness
o Respect for intellectual property
o Confidentiality
o Responsible publication
o Responsible mentoring
o Respect for colleagues
o Social responsibility
o Non-discrimination
o Competence
o Legality

Business research:
Business research is the function which links the consumer, customer and public to the marketer
through information-information used to identify and define business opportunities and
problems; generate, refine and evaluate business actions; monitor business performance, and
improve understanding of business research as a process.

Business research is a set of techniques and principles for systematically collecting, recording,
analyzing and interpreting data that can aid decision makers in various business fields.

Research process:

a. The conceptual phase

  Step one: formulation of research problem
 Step two: review of literature
 Step three: developing the hypothesis

b. The empirical phase

 Step one: preparing the research design
 Step two: determining the sample design
 Step three: collecting the data

c. The analytical phase

 Step one: analysis of data
 Step two: hypothesis testing
 Step three: generalizations & interpretations
 Step four : preparation of the report, presentations of the results

1. Formulation of research problem

Sources of research problem:
a. Gaps in knowledge
b. Contradictory findings
c. Theoretical predications
2. Review of literature – journals, newspapers, govt. Reports, other reports, secondary data
mainly.
3. Developing the hypothesis –
a. Descriptive hypothesis like defining form, size etc.
b. Relational hypothesis
4. Preparing the research design – developing complete framework of research
5. Determining the sample design – defining way of selecting a sample
6. Collecting the data – primary & secondary
7. Analysis of data
8. Hypothesis testing
 9. Generalizations & interpretations
10. Preparation of the report

Research proposal:
A research proposal is a proposal in which researcher mentions the detailed program about his
research investigation.

1. Marketing Problem 2. Purpose of Research Project

Brief description of general problem; State goals and objectives
reason for conducting research Describe scope of project
Sum up preliminary discussions between Spell out specific questions to be answered
researcher and manager; demonstrate Address possible limitations due to time or
knowledge of situation & particular budget constraints
information needs

3. Data Sources & Methodology 4. Time and Personnel

Describe the secondary data to be used Provide time estimates for each phase of the
Describe primary data to be gathered research
Keep methods descriptions non-technical Specify personnel required & rates of pay
Describe sample and proposed size Calculate no personnel costs
Include draft of questionnaire or focus
group moderator outline

Research proposal outline

Cover page

Table of contents

Chapter 1 - introduction

(need for the study, justification)

problem statement

Objectives/research questions/hypotheses
 Definition of terms

Limitations of the study

Basic assumptions

Chapter 2 - review of literature

(can have sections deemed necessary)

Chapter 3 - procedures

Research design

Subject selection

Outcome measures

Conditions of testing

Treatments

Data analysis

Chapter 4 – results (presentation should follow the same sequence and topics as that presented in
chapter 3)

Findings relative to problem

Summary of data

Tests of significance

Chapter 5 - discussion

*bibliography

Appendices

Research design
A framework or blueprint for conducting the marketing research project. It specifies the details
of the procedures necessary for obtaining the information needed to structure and/or solve
marketing problems.

Types of research design

1. Exploratory
2. Descriptive
3. Causal
Descriptive and causal research is also called as conclusive research.

1. Exploratory - to gain background information, to define terms, to clarify problems and

develop hypotheses, to establish research priorities, to develop questions to be answered.
2. Descriptive - to describe and measure marketing phenomena at a point in time.
3. Causal - to determine causality, test hypotheses, to make “if-then” statements, to answer
questions.

1. Exploratory research

 Initial research conducted to clarify and define the nature of a problem

 Does not provide conclusive evidence

 Subsequent research expected

a. Why conduct exploratory research?

 Diagnose a situation
 Screening of alternatives
 Discover new ideas
b. Categories of exploratory research
 Experience surveys
 Secondary data analysis
 Case studies
 Pilot studies
b.1. Experience surveys

o Ask knowledgeable individuals

o About a particular research problem

o Most are quite willing

b.2. Secondary data analysis

o Data collected for a purpose other than the project at hand

o Economical
o Quick source for background information

b.3. Case study method

o Intensely investigates one or a few situations similar to the problem

o Investigate in depth
o Careful study
o May require cooperation

b.4. Pilot study

o A collective term
o Any small scale exploratory study that uses sampling
o But does not apply rigorous standards

b.4.1. Pilot studies

o Focus group interviews

o Projective techniques
o Depth interviews

b.4.1.1. Focus group interviews

o Unstructured
o Free flowing
o Group interview
o Start with broad topic and focus in on specific issues
 b.4.1.2. Projective techniques

o Word association tests

o Sentence completion method
o Third-person technique
o Role playing
o T.a.t

b.4.1.3. Depth interviews

2. Research design: descriptive research

Descriptive research is undertaken to provide answers to questions of who, what, where, when,
and how – but not why.

Two basic classifications:

• Cross-sectional studies

• Longitudinal studies

a. Cross-sectional studies

• Cross-sectional studies measure units from a sample of the population at only one point
in time.

• Sample surveys are cross-sectional studies whose samples are drawn in such a way as to
be representative of a specific population.

• On-line survey research is being used to collect data for cross-sectional surveys at a faster
rate of speed.
 b. Longitudinal studies

• Longitudinal studies repeatedly draw sample units of a population over time.

• one method is to draw different units from the same sampling frame.

• A second method is to use a “panel” where the same people are asked to respond
periodically.

• On-line survey research firms recruit panel members to respond to online queries.

• Two types of panels:

• Continuous panels ask panel members the same questions on each panel
measurement.

• Discontinuous (omnibus) panels vary questions from one time to the next.

• Longitudinal data used for:

• Market tracking

• Brand-switching

• Attitude and image checks

3. Research design: causal research

• Causality may be thought of as understanding a phenomenon in terms of conditional

statements of the form “if x, then y.”

• Causal relationships are typically determined by the use of experiments, but other
methods are also used.

Experiments (a kind of causal research)

An experiment is defined as manipulating (changing values/situations) one or more independent
variables to see how the dependent variable(s) is/are affected, while also controlling the affects
of additional extraneous variables.

• Two broad classes:

a) Laboratory experiments: those in which the independent variable is manipulated

and measures of the dependent variable are taken in a contrived, artificial setting
for the purpose of controlling the many possible extraneous variables that may
affect the dependent variable

b) Field experiments: those in which the independent variables are manipulated and
measurements of the dependent variable are made on test units in their natural
setting

Difference Between Research Methodology & Research Methods

Research Methodology is a systematic way to solve a research problem. We study the various
steps that are generally adopted by a researcher to investigate his research problem along with
the logic behind them.

Research Methods are methods or techniques the researcher may use during the course of
studying a research problem. Research methods can be divided into three group categories:
1. The first group includes those methods which are concerned with the collection of data
2. The second group consists of those statistical techniques which are used for establishing
relationships between the data and the unknown
3. The third group consists of those methods, which are used to evaluate the accuracy of the
results obtained.