The Research Process – An Over Review PGKMurthy

The Research Process ► Steps : 1. Clarifying Research Question ► 2.Research Proposal ► 3. Research Design Strategy ► 4. Data Collection and Preparation ► 5. Data Analysis and Interpretation ► 6. Research Reporting ► 7.Management Decision

Clarifying Research Question ► Discover the Management Dilemma ► Define the Management Question ► Define the Research Question ► Refine the Research Question

Management Dilemma is a symptom of an actual problem such as ► Rising Costs ► The discovery of an expensive chemical compound that would increase the efficacy of a drug ► Declining sales ► A large number of product defects during the manufacture of an automobile.

Formulating the Research Question ► 1. Discover Management Dilemma ► 2.Define Management question ► 2a. Exploration ► 3.Define Research question

To have clarity of Management Question ► A researcher is asked to help the new management of bank.The President of the Bank is concerned about the bank’s profitability ( the management dilemma ) and wants to turn this situation around. ► 1. How can we increase deposits ? ► 2.How can we reduce costs ?

Fine Tuning the Research Question ► Fine-tuning the question is precisely what a skillful practitioner must do after the exploration is complete. At this point a clearer picture of the management and research question begins to emerge.

Designing the Study ► Research Design is the blueprint for fulfilling objectives and answering questions.Selecting a design may be complicated by the availability of a large variety of methods, techniques, procedures, protocols, and sampling plans.

Research Design Strategy ► ( Type, Purpose, time frame, scope and environment ) ► Data Collection Design ► Sampling Design ► Pilot Testing

Sampling Design ► A sample is a part of the target population, carefully selected to represent that population.

Resource Allocation and Budgets ► Three types of budgets in organisations where research is purchased and cost containment is crucial : ► Rule-of-thumb budgeting involves taking a fixed percentage of some criteriion. A percentage of the prior years sales revenues may be the basis for determining the marketing research budget for a manufacturer. ► Departmental or functional area budgeting allocates a portion of total expenditures in the unit to research activities. ► Task budgeting selects specific research projects to support on an adhoc basis.

Research Proposal ► Is an activity that incorporates decisions made during early project planning phases of the study, including the management research question hierarchy and exploration. The proposal thus incorporates the choices the investigator makes in the preliminary steps.A written proposal is often required when a study is being suggested. It ensures that the parties concur in the project’s purpose and on the proposed methods of investigation. ► Should include two basic questions : ► Statement of the research question ► Brief description of research methodology

Pilot Testing ► A pilot test is conducted to detect weaknesses in design and instrumentation and to provide proxy data for selection of a probability sample. It should draw subjects from the target population and simulate the procedures and protocols that have been designated for data collection. If the study is a survey to be executed by mail, the pilot questionnaire should be mailed. If the design calls for observation by an unobtrusive researcher this behavious should be practiced. Size of pilot group may range from 25 to 100 subjects.

Data Collection ► Data may be defines as facts presented to researcher from the study’s environment. First, data may be characterised by their abstractness, verifiability, elusiveness and closeness to the phenomenon. As abstractions, data are motre metaphorical than real. For example v, GDP cannot be observed directly : only the effects of it may recorded. Secondly, data are processed by our senses – often limited in comparison to the senses of of other living organisms.Thirdly, capturing data is elusive, complicated by the speed at which events occur and the time bound nature of observations. ► Finally, data reflect their truthfulness by closeness to the phenomena.

Analysis and Interpretation ► Data analysis involves reducing accumulated data to a manageable size, developing summaries, looking for patterns, and applying statistical techniques. ► Sealed trsponses on questionnaires and experimented instruments often require the analyst to derive various functions as well as to explore relationships among variables.

Research Report ► A Research Report should contain the following : ► An executive summary consisting of a synopsis, findings and recommendations ► An over review of the research, the problem’s background, literature summary, methods and procedures and conclusions ► A section on implementation strategies for the recommendations. ► A technical appendix with all materials necessary to replicate the project.

Exhibit 3-1 The Business Research Process

Ten Steps in the Marketing Research Process 1. Define the Problem 2. Establish Research Objective 3. Determine Research Design 4. Identify Information Needs and Sources 5. Determine Methods of Data Collection 6. Design Instrument for Data Collection 7. Determine Sample Plan and Sample Size 8. Collect Data 9. Analyze Data 10. Prepare and Present Final Report

Step 1: Define the research problem ► The very first, and the most important step in research:  “A problem well-defined is half solved”  Nature of the problem determines the type of study to conduct.  Symptoms, for example, declining sales, profit, market share, or customer loyalty are not problems. ► A research problem must be accurately and precisely defined, otherwise the task of designing a good research difficult. ► Marketing problems may be difficulty-related or opportunity-related. For both, the prerequisite of defining the problem is to identify and diagnose it.  Conduct situation analysis. It provides the basic motivation and momentum for further research.

Step 2: Establish Research Objectives ► “ Research objectives are related to and determined by the problem definition. ► When specifying research objectives, development of hypotheses, might be very helpful. ► When achieved, objectives provide the necessary information to solve the problem.

Step 3: Research Design 3.Research Design step involves the development of a research plan for carrying out the study.  There are a number of alternative research designs. The choice will largely depend on the research purpose.

Step 4: Specify the information required. After defining the problem the researcher must determine what kind of information will best meet the research objectives. After defining the problem the researcher must determine what kind of information will best meet the research objectives.  Secondary information  Primary information 5..

Step 5: Design the method of collecting the needed information. Marketing research information may be collected in many ways: Marketing research information may be collected in many ways:  via mail, telephone, fax, Internet, or personal interview.  using consumer panels, consisting of individuals who have agreed to provide purchasing and media viewing behavior

Step 6: Design the questionnaire. ► A primary responsibilities of a marketing researcher is to design the data collection instrument or questionnaire in a manner so that it is easily understood by the respondent and administered to them.

Step 7: Decide on the sampling design. ► The sampling design must result in the proper sample of respondents being selected. Different sampling designs are available to researchers.

Step 8: Manage and implement the data collection The researcher must properly manage and oversee the data collection process. If interview method is used, the researcher must train interviewers and develop procedures for controlling the quality of the interviewing.

Step 9:Analyze and interpret the results. ► The ‘raw’ research data needs to be edited, tabulated and analyzed to find the results and to interpret them.  the method used may be manual or computer based.  The analysis plan follows from the research objective of the study.  Association and relationships of variables are identified and discussed in the light of the specific marketing problem.

Step 10: Communicate the findings and implications. ► The researcher has to submit a written report and often make an oral presentation to management or the client.  In conducting all the marketing research activities; the marketing researchers must adhere to ethical standards.

Questions Prepare a research plan for marketing manager of tata Nano car who wants to Prepare a research plan for marketing manager of tata Nano car who wants to know about customer satisfaction level across India who recently purchased newly Introduced car. know about customer satisfaction level across India who recently purchased newly Introduced car.

► Bank wants to start new branch At Savli. Explain the research plan to do the physibility study to start new branch. Explain the research plan to do the physibility study to start new branch. ► A new mobile company wants to enter in the market with unique product. Explain the research process for the same. ► Philips Glass Ltd wants to check the main reason for defect in the quality of glass cubes (used in the bulb). Explain the research methodology.

Research Problem issues ► The favored technique syndrome ► Company database strip mining ► Politically motivated Research

The Favored – Technique Syndrome ► Some researchers are method bound. They recast the management question so that it is amenable to their favorite methodology – a survey. Others might prefer to emphasis the case study, while still others would not consider either approach.

Company database strip mining ► The available pool of data restrict the researcher reduce the need for other research.

Politically Motivated Research ► Sometimes research not obvious but manager want to win certain manager pet idea