Types of Research in Business

This ppt contains important types of research used in research. Which covers Basic or Fundamental Research
Applied Research
Descriptive Research
Analytical Research
Quantitative Research:
Qualitative Research
Conceptual research
Empirical research
Exploratory Research
Subscribe to Vision Academy
https://www.youtube.com/channel/UCjzpit_cXjdnzER_165mIiw

1. Types of Research

2. TYPES OF RESEARCH The basic types of research are as follows Basic or Fundamental Research Applied Research Descriptive Research Analytical Research Quantitative Research: Qualitative Research Conceptual research Empirical research Exploratory Research

3. Basic or Fundamental Research Is mainly concerned with generalization and with the formulation of a theory “Gathering knowledge for knowledge sake” is termed as pure or basic research. Research concerning some natural phenomenon or relating to pure mathematics are examples of fundamental research. Research conducted without a specific decision in mind that usually doesn’t address the needs of a specific organization and it doesn’t examine the problem from any single organization’s perspective. It attempts to expand the limits of knowledge in general and is not aimed at solving a particular pragmatic problem. The context of this research is vast and time period is flexible.

4. Applied Research It includes those studies undertaken to answer questions about specific problems or to make decisions about a particular course of action or policy. It is conducted when and important decision must be made about a specific real problem Applied research is therefore, problem- oriented and action-oriented, seeking and immediate and practical solution . It aims at finding a solution for an immediate problem facing a society or and industrial /business organization. For Example When sales decline, JET AIRWAYS conducts a marketing research to study consumer satisfaction levels. BIG BAZAAR conducts a consumer response survey to identify the efficacy of its advertising campaigns .

5. Descriptive Research It includes surveys and fact finding inquiries of different kinds .The major purpose of descriptive research is description of the state of affairs as it exists at present. We quite often use 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 . Example 1. Frequency of shopping. 2. Preferences of people and 3. Examining the fluctuation of Indian international trade balance during 1950 -1961. 4. Starting from late 1960, the value of INR has steadily decreased against Dollar .

6. Analytical Research The research has to facts or information already available and analyzes these to make a critical evaluation of the material. It attempts to explain why and how . It usually concerns itself with cause – effect relationships among variables . Example Explaining why and how Indian trade balance moves in particular way overtime. While explaining how and why this surge in the value of INR is going to affect the India is on analytical research

7. Quantitative Research Is based on the measurement of quantity or amount . It is applicable to phenomenon that can express in terms of quantity . It is usually involves collecting and converting data into numerical form so that statistical calculations can be made and conclusions drown. Example Total sales of soap industry in terms of rupees or quantity in terms of tones for particular year, say 2008, could be research with past 5 years and then ‘projection for 2009 could be made’.

8. Qualitative Research It is concerned with qualitative phenomenon, i.e , phenomena relating to or involving quality or kind . Motivation research is an important type of qualitative research, where usually investigate why people think or do certain things. Attitude or opinion research i.e , research designed to find out how people feel or what they think about a particular subject or institution is also qualitative research. The aim is to discover the underlying motives of human behavior . We can analyze the various factors which motivate people to behave in a particular manner or which make people like or dislike a particular thing. This type of research aims using in-depth interviews, word association tests, sentence completion tests , story completion tests and similar other projective techniques are used for this purpose.

9. Conceptual research CR is that related to some abstract ideas or theory . It is generally used by philosophers and thinkers to develop new concepts or to reinterpret existing ones. The researcher breaks down a theorem or concept into constituent parts to gain a better and deeper understanding of the issue concerning to the theorem. Conceptual research is a useful method but should be used in conjunction with other methods to produce better and understandable results.

10. Empirical Research It relies on experience or observation alone, often without due regard far system and theory. It is data based research, coming up with conclusions which are capable of being verified by observation or experiment. We can also call it as experimental type of research. In such a research it is necessary to get at facts firsthand, at their source, and activity to go about doing certain things to stimulate the production of desired information. The researcher provides himself with a working hypothesis to get the probable results. Facts are found to prove or disprove the hypothesis after which experimental designs are made to bring forth the desired information .

11. Exploratory Research It is also termed as formulate research studies . It is a research conducted for a problem that has not been clearly defined . Exploratory Research as the name states intends merely to explore the research questions and does not intend to offer final and conclusive solution to existing problems. It conducted to determine the natures of the problem, this type of research is not intended to provide conclusive evidence, but helps us to have a better understanding of the problem

12. Reference Kothari , C. R. (2004).  Research methodology: Methods and techniques . New Age International.