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Learning Objectives
Upon completion of this chapter, you will be able to: Understand the steps in conducting research Understand the types of research Learn the purposes and methods of conducting exploratory research Learn about descriptive research and the types of descriptive research Have a preliminary idea about causal research Establish a difference between exploratory research, descriptive research, and causal research
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Introduction
Research is all about finding something, the absence of which may distort our ability to take informed decisions (Nwokah et al., 2009). The ability to take an informed decision is generated through a systematic study that is conducted through various interrelated stages. All the steps in a research are interrelated and no independent activity is launched without considering the decisions on the previous stages. One has to really understand that, from problem identification to presentation of findings, every step is interlinked and interrelated.
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A research design is the detailed blueprint used to guide a research study towards its objective. A good research is conducted using 10 steps:
1. 2. Problem or opportunity identification Decision maker and business researcher meeting to discuss the problem and opportunity dimensions 3. Defining the management problem and subsequently the research problem 4. Formal research proposal and introducing the dimensions of the problem 5. Approaches to research 6. Field work and data collection 7. Data preparation and data entry 8. Performing data analysis 9. Interpretation of result and presentation of findings 10. Management decision and its implementation.
Business Research Process Design 4
The process of business research starts with the problem or opportunity identification. Actually, the management of the company identifies the problem or opportunity in the organization or in the environment. The management can identify the symptoms or the effects of the problem, but to understand the reasons of the problems, a systematic research has to be adopted. This required research should either be executed by a business research firm or a business researcher.
The decision maker contacts the business research firm and then discusses the problem or opportunity with the business researcher. The researcher can only suggest solution to a problem, but the actual decision is taken by the decision maker.
Step 2: Decision Maker and Business Researcher Meeting to Discuss the Problem or Opportunity Dimensions
Step 3: Defining the Management Problem and Subsequently the Research Problem
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 consumers opinion on psychological pricing and to estimate their purchase behaviour for the psychological price being offered.
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Step 4: Formal Research Proposal and Introducing the Dimensions to the Problem
Now, the researcher prepares a formal proposal of the research and develops the approaches to the research problem. The first part is to develop a theoretical model to quantify an attitude. For example, to estimate the buying intentions for a particular product, first, the researcher has to prepare a theoretical model to measure an attitude like buying intentions.
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Framing Hypotheses
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.
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Hypothesis 6: All the five factors in combination have a significant linear impact on the buying intention.
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The researcher can also test the combined impact of these five variables on the buying intention. The proposed multiple regression model will be
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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.
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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
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Figure 2.4: The refined theoretical model to measure the buying intentions (obtaining inputs from exploratory research)
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The secondary data are not only used for problem understanding and exploration but are also used to develop an understanding about the research findings. Chapter 6 exclusively deals with this topic.
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Expert Survey
To get the authentic information about the problem, the researchers sometimes consult the experts of the concerned field. These experts provide authentic and relevant information useful for the research, which otherwise is difficult to obtain.
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The focus group interview is a qualitative research technique in which a trained moderator leads a small group of participants to an unstructured discussion about the topic of interest.
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Depth Interviews
A depth interview is a probing between a highly skilled interviewer and a respondent from the target population to unfold the underlying opinions, motivations, emotions, or feelings of an individual respondent on a topic generally coined by the researcher.
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Case Analysis
A case study research method actually combines the record analysis and observations from individual and group interviews. The case studies become particularly useful when one needs to understand some particular problem or situation in great depth and when one can identify the cases rich in information.
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Projective Techniques
Projective technique is achieved by presenting the respondents with ambiguous verbal or visual stimulus materials, such as bubble cartoons, 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.
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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.
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Cross-Sectional Study
Cross sectional research design involves the collection of information from a sample of a population at only one point of time. In this study, various segments of the population are sampled so that the relationship among the variables may be investigated by cross tabulation (Zikmund, 2007). Sample surveys are cross-sectional studies in which the samples happen to be a representative of the population. The cross-sectional study generally involves large samples from the population; hence, they are sometimes referred as sample surveys.
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Longitudinal Study
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Longitudinal study involves survey of the same population over a period of time. There is a well-defined difference between a crosssectional study and a longitudinal study. 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.
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Causal Research
Causal research is conducted to identify the causeand-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.
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Table 2.2: A relative comparison of exploratory research, descriptive research, and conclusive research
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Chapter 6 is exclusively based on secondary data sources. 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. Chapter 7 is based on survey and observation techniques, Chapter 8 introduces the various dimensions of experimentation, and Chapter 9 focuses on field work and data preparation process.
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After field work, the collected data are in raw format. Before performing data analysis, it is important for a researcher to structure the data. There is a specific scientific procedure to deal with the missing data and other problems related to the data-collection process. Chapter 9 details all these aspects of data preparation.
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After feeding the data in the spreadsheet, data analysis is launched. Chapters 10 to 18 present various sophisticated statistical analytical techniques to execute the data analysis exercise. These include univariate statistical analysis, bivariate statistical analysis, and multivariate statistical analysis.
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