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Business method

1. Business Research Methods . William G. Zikmund Chapter 4: The Business Research Process

2. Information Reduces uncertainty Helps focus decision making

3. Types Of Research Exploratory Descriptive Causal

4. COMPLETELY CERTAIN ABSOLUTE AMBIGUITY CAUSAL OR DESCRIPTIVE EXPLORATORY Uncertainty Influences The Type Of Research

5. Exploratory Research Descriptive Research Causal Research (Unaware of Problem) (Aware of Problem) (Problem Clearly Defined) “Our sales are declining and “What kind of people are buying “Will buyers purchase more of we don’t know why.” our product? Who buys our our products in a new package? competitor’s product?” “Would people be interested “Which of two advertising in our new product idea?” “What features do buyers prefer campaigns is more effective?” in our product?” possible situation Degree of Problem Definition

6. 6 Exploratory Research Secondary data Experience survey Pilot studies

7. Exploratory Research Initial research conducted to clarify and define the nature of a problem Does not provide conclusive evidence Subsequent research expected

8. Descriptive Research Describes characteristics of a population or phenomenon Some understanding of the nature of the problem

9. 9 I keep six honest serving men, (they taught me all I knew), their names are --Rudyard Kipling what, and why, and when, and how, and where and who.”

10. Descriptive Research Example Weight Watchers average customer Woman about 40 years old Household income of about $50,000 At least some college education Trying to juggle children and a job

11. Descriptive Research Example Men’s fragrance market 1/3 size of women’s fragrance market But growing at a faster pace Women buy 80 % of men’s fragrances

12. Causal Research Conducted to identify cause and effect relationships

13. Identifying Causality A causal relationship is impossible to prove. Evidence of causality: 1. The appropriate causal order of events 2. Concomitant variation--two phenomena vary together 3. An absence of alternative plausible explanations

14. Stages of the Research Process Problem Discovery and Definition Research Design Sampling Data Gathering Data Processing and Analysis Conclusions and Report Discovery and Definition and so on

15. EXAMPLE American Airlines is constantly looking for new ways to serve its passengers. One manager came up with the idea of offering phone service. The other managers got excited about this idea. The marketing manager volunteered to do some preliminary research. He contacted a major telecommunications company to find out the cost of providing this service on B747 coast-to-coast flights. The telecommunications company said that the equipment would cost the airline about $1,000 a flight. The airline could break even if it charged $25 a phone call and at least 40 passengers made calls during the flight. The marketing manager then asked the company’s marketing research manager to find out how air travelers would respond to this new service.

16. Problem statement The marketing manager and marketing researcher agreed to define the problem as follows: “Will offering an in-flight phone service create enough incremental preference and profit for American Airlines to justify its cost against other possible investments American might make?”

17. Specific research objectives: 1. What are the main reasons that airline passengers place phone calls while flying? 2. What kinds of passengers would be the most likely to make calls? 3. How many passengers are likely to make calls, given different price levels? 4. How many extra passengers might choose American because of this new service? 5. How much long-term goodwill will this service add to American Airlines’ image? 6. How important is phone service relative to improving other factors such as flight schedules, food quality, and baggage handling?

18. Research Stages Cyclical process - conclusions generate new ideas Stages can overlap chronologically Stages are functionally interrelated Forward linkages Backward linkages

19. Problem discovery Problem definition (statement of research objectives) Secondary (historical) data Experience surve y Pilot study Case study Sel ection of exploratory research technique Selection of basic research method Experiment Survey Observation Secondary Data Study Laboratory Field Interview Questionnaire Selection of sampling research technique Sampling Probability Nonprobability Collection of data (fieldwork) Editing and coding data Data processing Interpretation of findings Report Data Gathering Data Processing and Analysis Conclusions and Report Research Design Problem Discovery and Definition

20. The Business Research Process Problem Discovery Exploratory Research Selection of the Basic Research Method Selection of Sample Design Collection of the Data

21. The Research Process (cont.) Editing and Coding Data Processing Interpretation of the Findings Report

22. Stages In The Research Process Problem Discovery and Problem Definition Research Design Sampling Data Gathering Data Processing and Analysis Conclusions And Report

23. Problem Discovery And Definition First step Problem, opportunity, or monitor operations Discovery before definition Problem means management problem

24. “The formulation of the problem is often more essential than its solution” Albert Einstein

25. 25 State the research questions and research objectives

26. Hypothesis A statement that can be refuted by empirical data

27. If you do not know where you are going, any road will take you there .

28. Secondary ( historical ) Data Pilot Study Experience Survey Case Study Exploratory Research

29. Exploratory Research Techniques Two Examples Secondary data (historical data) Previously collected Census of population Literature survey Pilot study A number of diverse techniques

30. Focus Group Interview

31. Research Design Master plan Framework for action Specifies methods and procedures

32. Basic Research Methods Surveys Experiments Secondary data Observation

33. POPULATION SAMPLE Sample: subset of a larger population . Selecting a Sample

34. Sampling Who is to be sampled? How large a sample? How will sample units be selected?

35. Data Gathering Stage

36. Data Processing and Analysis

37. Conclusions And Report Writing Effective communication of the research findings

38. Research Proposal A written statement of the research design that includes a statement explaining the purpose of the study. Detailed outline of procedures associated with a particular methodology

39. Research Program Strategy

40. Statement of Research Objectives Problem Definition Defining Problem Results in Clear Cut Research Objectives Exploratory Research (Optional) Analysis of the Situation Symptom Detection