Lecture 1 MBR2015

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Introduction to Methods inIntroduction to Methods inBusiness ResearchBusiness Research

Qazi Subhan

M. Phil (Eco), QAU, PakLLM (IPR), Ital

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"The secret of success

is to know something

nobody else knows. "

Aristotle Onassis

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Business research is defined as thesystematic and organized efforts to

investigate a specific problem occurred

in the work setting which needs

solution.

Business ResearchBusiness Research

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%&'ecties or the course%&'ecties or the course

*no+lede and

kills acuisition

*no+lede and

kills acuisition

Personal and Proessional

/eelo0ent

P

ersonal and Proessional

/eelo0ent

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%&'ecties or the course%&'ecties or the course

*no+lede andkills acuisition

*no+lede and

kills acuisition

3Identi 0ro&le area

34onduct interie+s3/o li&rar research3/eelo0 theoreticalrae+ork

3 5orulateh0otheses3 Make researchdesin

decisions

4ollect data

3Anal6e and inter0retdata3/iscuss 7ndins and

i0lications

3/iscriinate &et+eenood and &ad research

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%&'ectie or the course%&'ectie or the course

Personal and Proessional/eelo0ent

Personal and Proessional/eelo0ent

el anaeent o tie,talents and other resources/eelo0 counicationskills - oral and +ritten9ake 0ersonal res0onsi&ilitor learnin and inoration

seekin

Learn to handle a&iuit

3/eelo0 loical thinkin and a eel or +hat isinoled in anaerial

decision akin3/eelo0 con7dence in

our co0etence.

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;allarks o Research;allarks o Research 9he ain distinuishin characteristics

o research can &e listed as ollo+s1. Pur0osieness ( Pur0osie)

!. Rior (4areulness)

#. 9esta&ilit

$. Re0lica&ilit ( Results are not dra+n & chance )

2. Precision and 4on7dence (4loseness o7ndins to realit)

8. %&'ectiit ( results should &e &ased onacts and 7ures not on eotions)

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te0s in ;0othetico-te0s in ;0othetico-

/eductie Research/eductie Research1. Observation- +hat is ha00enin,

+h should +e kno+ ore a&out it?

!. reliminary inormation !atherin! Literature sure - +hat hae others ound

out?#. Theory ormulation - @hat can I 7nd

out that aries ro the re0ortedresearch?

$. "ypotheses development -uestion

2. #e$ inormation !atherin!.

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Research euenceResearch euence

E=0lore situationidenti 0ro&le

e=ists

E=0lore situationidenti 0ro&le

e=ists

/eelo0researchdesin

/eelo0researchdesin

4ollect data4ollect data

Analse dataInter0ret results

Analse dataInter0ret results

Ealuate resultssee i research

uestions has &eenans+ered

Ealuate resultssee i research

uestions has &eenans+ered

/ecide ne=t ste0s

I0leent orore research.

/ecide ne=t ste0s

I0leent orore research.

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The Research Proposal

Maze (Puzzle)

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;o+ to 7nd a to0ic;o+ to 7nd a to0ic

Sta!e%- 5ind soethin ou areinterested in.

Sta!e & - ou hae a to0ic?? -

riht that +as eas.Sta!e ' - Re7ne the to0ic. Is it

the riht to0ic or ou? Is itachiea&le? tart readin.

Sta!e ( - @rite the 0ro0osal (no+thins are &ecoin hot).

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@ritin the 0ro0osal@ritin the 0ro0osal

1. More readin.

!. et ore readin

#. /iscuss +ith others, talk +ith

our su0erisor, tell soeonea&out +hat ou +ant to do.

$. Co+ that ou are clear on the

a'or issues as illustrated in theliterature ou can &ein +ritinu0 the literature reie+.

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@ritin cont..@ritin cont..

2. @hat a&out our contri&ution? ;o+are ou oin to conduct the research?@ho has the inoration, ho+ can it &ee=tracted, on +hat &asis +ill it &e

e=tracted?;ain understood the a'or issues in

the area ou are researchin no+consider +hat ou +ill do +ith this

inoration.9he methodolo!y - ouDre ettin

serious no+.

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MethodoloMethodolo

)hat is it* It is ho+ ou areoin to conince an e=ainerthat +hat ou hae uncoered

throuh our research is in actalid.

9hat is I did it this +a

&ecause...F 7ndins can &etaken as an accurate 0icture o thearea &ecause..F

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The Research +oop

Topic

1 1:

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Topic

Literature

The Research +oop

1 1

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Topic

Literature Research

Validation of

findings

The Research +oop

1 !

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Topic

Literature Methodology

Validation of

findings

Answer to question

The Research +oop

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@h a researcher has to@h a researcher has to

ollo+ the loo0ollo+ the loo0

ou ust 0roe to an e=ainer that +hat

ou did, +as a00ro0riate in the conte=t o

+hat ou +ere researchin

ou ust 0roe to an e=ainer that +hat

ou did, +as a00ro0riate in the conte=t o

+hat ou +ere researchin

Unless an e=ainer can &e coninced that t

0ath ou ollo+ed is an a00ro0riate one, oresults can not &e taken seriousl.

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The research processThe research process

Stages of the research process

Formulating and clarifying a topic

Reviewing the literature

Designing the research

Collecting data

Analysing data

Writing up

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The research processThe research process

actors to !e considered

The impact of your personal feelings and beliefs

Access to data

Time and other resources

Validity and reliability of the data

thical issues

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;o+ to select a to0ic in;o+ to select a to0ic in

ResearchResearchour to0ic is achiea&leour to0ic is s0eci7c

our to0ic is releant

our to0ic is satis7es the 0ro'ectuidelines

our to0ic is o interest to ou

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Literature Reie+Literature Reie+

urposeG 9o deonstrate to ane=ainer that ou are ailiar +ithcurrent research thinkin in the area.

Identi the ke authors, 'ournals, &ooks.Identi the ke thees.Look at reerences and &i&liora0hies

attached to articles and use the as

sin 0osts to et ore inoration.Use the hel0 0roided & the li&rarians

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9he Research /esin or9he Research /esin or

PlanPlan

Plan +hat is needed - resources and0eo0le. /oes the ta0e recorder +ork?;o+ uch tie +ill an interie+ take?

Is the sot+are or eui0ent aaila&leHaccessi&le?

;ae a clear tieta&le or collectindata.

4ollatin, anal6in and +ritin u0 taketie.

@hen it is enouh, enouh?

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Presentin ResultsPresentin Results

ou hae the data no+ +hat?

;o+ hae the data &een anal6ed?;o+ +ill ou 0resent it?

;o+ +ill ou link the inorationro the literature reie+ &ack toour 7ndins?

@hat conclusions are ou a&le toreach? Are the hard conclusions,illustratie or a sinle case stud.

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*ee0in on track*ee0in on track

Plan- ta&le o contents as soon as0ossi&le.4ha0ter headins - act as sin 0osts or

uture direction.

*ee0 the &i&liora0h oin.tart +ritin as soon as 0ossi&le - ie theoent the 0ro0osal is acce0ted start+ritin u0 the literature reie+.

,a-e sure you have set aside time

each day to $rite . minimum 'hours every day/

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Ealuation ResearchEaluation Research

Ealuation research is the oral,o&'ectie easureent anda00raisal o the e=tent to +hich a

ien actiit, 0ro'ect, or0rora has achieed itso&'ecties.

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Perorance-onitorinPerorance-onitorin

ResearchResearchResearch that reularl 0roides

eed&ack or ealuation andcontrol

Indicates thins are or are notoin as 0lanned

Research a &e reuired to

e=0lain +h soethin +ent+ronF

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D i i )h 0 d

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Determinin! )hen to 0onductDeterminin! )hen to 0onduct

Business ResearchBusiness Research

9ie constraintsAaila&ilit o data

Cature o the decision

Bene7ts ersus costs

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/ t i i @h t/ t i i @h t

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Is sufficient time

available before

a managerial

decision

must be made?

Is the infor-

mation already

on hand

inadequate

for makingthe decision?

Is the decision

of considerable

strategic

or tactical

importance?

Does the value

of the research

information

exceed the cost

of conductingresearch?

Conducting

Business

Research

Do Not Conduct Business Research

Time ConstraintsAvailability of

Data Nature of the DecisionBenefitsvs. Costs

Yes YesYesYes

No No No No

/eterinin @hen to/eterinin @hen to

4onduct Business4onduct Business

ResearchResearch

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alue ersus 4ostsalue ersus 4osts

Potential alue o a BusinessResearch EJort hould E=ceed ItsEstiated 4osts

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Value

"ecreased certainty#ncreased li$elihood

of a correct decision#%pro&ed !usiness

perfor%ance and

resulting higher

profits

'osts

Research

ependitures"elay of !usiness

decision andpossi!le disclosure

of infor%ation to

ri&alsPossi!le erroneous

research results

alue hould E=ceedalue hould E=ceed

Estiated 4ostsEstiated 4osts

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Ma'or 9o0ics or Research inMa'or 9o0ics or Research in

BusinessBusiness

Keneral Business 4onditions and4or0orate Research

5inancial and Accountin Research

Manaeent and %rani6ationalBehaior Research

ales and Marketin Research

Inoration stes Research

4or0orate Res0onsi&ilit Research

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Business Research in the !1stBusiness Research in the !1st

4entur4entur

Increased lo&ali6ationKro+th o the Internet and other

inoration technoloies

Business Research is increasinllo&al

Market kno+lede is essential

A.4. Cielsen - ore that 8:international &usiness

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Klo&al Business ResearchKlo&al Business Research

Keneral inoration a&outcountr - econoic conditionsand 0olitical cliate

4ultural and consuer actorsMarket and co0etitie

conditions - deand estiation

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12ample o AppliedResearch

((,ar-etin! Research3

dd #>

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Rede7nin MarketinRede7nin Marketin

ResearchResearch The American !ar"eting Association

#A!A$ redefined !ar"eting Researchas%

The function which lin"s the consumer& the

customer& and public to the mar"eter

through #*RMAT#*

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'sed to identify and

define mar"et

opportunities and

problems

(enerate& refine& andevaluate mar"eting

performance

!onitor mar"eting

performance

)mprove understanding

of mar"eting as a

process

Rede7nin MarketinRede7nin Marketin

ResearchResearch

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/e7nition o Marketin/e7nition o Marketin

ResearchResearch!ar"eting research is the systematic and ob*ective

identification

collection

analysis

dissemination

and use of information

for the purpose of improving decision ma"ing related

to the

identification and

solution of problems and opportunities in

mar"eting+

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Market ResearchMarket Research

0eci7es the inoration0eci7es the inoration

necessar to address thesenecessar to address these

issuesissuesManaes and i0leents theManaes and i0leents the

data collection 0rocessdata collection 0rocess

Anal6es the resultsAnal6es the results4ounicates the 7ndins and4ounicates the 7ndins and

their i0licationstheir i0lications

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4lassi7cation o Marketin4lassi7cation o Marketin

ResearchResearchPro!le% #dentification ResearchResearch underta"en to help identify problems

which are not necessarily apparent on the surfaceand yet e,ist or are li"ely to arise in the future+,amples% mar"et potential& mar"et share& image&

mar"et characteristics& sales analysis& forecastingand trends research+

Pro!le% Sol&ing Research

Research underta"en to help solve specificmar"eting problems+ ,amples% segmentation&product& pricing& promotion and distributionresearch+

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A 4lassi7cation o MarketinA 4lassi7cation o Marketin

ResearchResearch

!ar"eting Research

-roblem)dentification Research

-roblem .olving

Research

!ar"et -otential Research

!ar"et .hare Research!ar"et Characteristics Research.ales Analysis ResearchForecasting Research

/usiness Trends Research

.egmentation Research-roduct Research

-romotion Research

Distribution Research

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Pro&le olin ResearchPro&le olin Research

"eter%ine the !asis of seg%entation

+sta!lish %ar$et potential and

responsi&eness for &arious seg%ents

Select target %ar$ets

'reate lifestyle profiles,

de%ography- %edia- and

product i%age characteristics

S14,1#TAT5O# R1S1AR0"

Test concept

"eter%ine opti%al product design

Pac$age tests

Product %odification

.rand positioning and

repositioning

Test %ar$eting

'ontrol score tests

ROD60T R1S1AR0"

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&l l i h

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R505#4 R1S1AR0"

Pricing policies

#%portance of price in !rand selection

Product line pricing

Price elasticity of de%and

#nitiating and responding to price changes

$ALE

RO,OT5O#A+ R1S1AR0"

*pti%al pro%otional !udget Sales pro%otion relationship

*pti%al pro%otional %i

'opy decisions

Media decisions

'reati&e ad&ertising testing

+&aluation of ad&ertising effecti&eness

'lai% su!stantiation

0.00% APR

1-$

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D5STR5B6T5O# R1S1AR0"

/eterine

90es o distri&ution

Attitudes o channel e&ers

Intensit o +holesale N resalecoerae

4hannel arins

Location o retail and +holesaleoutlets

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Research ProcessResearch Process

.tep 0% -roblem Definition

.tep 1% Development of an Approach to

the -roblem.tep 2% Research Design Formulation

.tep 3% Fieldwor" or Data Collection

.tep 4% Data -reparation and Analysis

.tep 5% Report -reparation and

-resentation

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9he Role o Marketin9he Role o Marketin

ResearchResearch

'ontrolla!le

Mar$eting

-roduct

-ricing

-romotion

Distribution

Varia!les

Mar$eting

Research

Mar$eting"ecision

Ma$ing

Pro&iding#nfor%ation

Assessing#nfor%ationeeds

Mar$eting Managers

Mar$et Seg%entation

Perfor%ance / 'ontrol

Target Mar$et Selection

Mar$eting Progra%s

0ncontrolla!le

+n&iron%ental

actors

conomy

Technology

6aws 7Regulations

.ocial 7 CulturalFactors

-olitical Factors

'usto%er 1roups

+%ployees Shareholders

Suppliers

'onsu%ers

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Marketin Research u00liers NMarketin Research u00liers N

ericeserices

LIMITED SERVICE

Branded

Products

and Services

Data

Analysis

ServicesAnalytical

Services

Coding and

Data ntry

Services

!ield

Services

FULL SERVICE

Syndicate

Services

Standardized

Services

Customiz

ed

Services

"nternet

Services

RESEARCH

SUPPLIERS EXTERNAL

INTERNAL

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2hat "o 3ou Thin$42hat "o 3ou Thin$4

5normation

Reduces6ncertainty in

the

Business

Documents

Lecture 1 MBR2015