BRM
UNIT – 1Introduction to business research methods Q1) Write the Meaning and objectives of researchA1) Research, usually to answer a question or issue, is looking for and collecting information. The word research is derived from the word 'recherché' in French, which means 'to go searching.' The word research consists of two "re" and "search" syllables. = Research involves creative work undertaken on an organized basis to enhance the knowledge bank, including human, cultural and societal knowledge, and to make use of this knowledge bank to formulate new applications. It is used to generate or confirm facts, reconfirm previous work results, solve new or existing issues, support theorems, or develop new theories. An extension of past work in the relevant field may also be a research project. Research is a continuous process and, particularly in business, is useful in decision-making. In a number of distinct ways, research has been defined. According to Martyn Shuttleworth, any collection of information, data and facts for the advancement of knowledge is research. "Research is a process of steps used to gather and analyze information to increase our understanding of a topic or problem," Creswell says.Research is an organized enquiry, according to Fred Kerlinger, designed and carried out to provide information for solving a problem.To get insights about problem. To find solutions for a problem. To test existing laws or theories. To develop new ideas, concepts and theories. To test hypothesis of a causal relationship between variables. To identify areas where research could make the difference. To predict future of events Q2) What are the Types of research?A2)1. Basic ResearchIt is also known as pure or fundamental research. This study is primarily carried out to improve the knowledge base. It is purely motivated by interest and a desire to expand our knowledge. This type of research tends not to be directly applicable to the real world in a direct way, butenhances our understanding of the world around us. Pure study can be exploratory, explanatory or descriptive. In various fields, basic research generates new ideas, principles and theories. Basic study concentrates on fundamental principles and theories of testing. It is sometimes implicitly said that there are no practical applications for fundamental research. For example, a study examining whether students from illiterate families cheat more often than students from literate families may be designed by someone conducting fundamental research on cheating behaviour. Note that the study is not conducted to decrease cheating or help people who cheat or any other "applied" aspect, but to raise awareness of cheating behavior. 2. Applied ResearchInstead of focusing on expanding knowledge, applied research is primarily associated with solving practical issues. It is mainly used to find solutions to issues that arise on a daily basis and to create innovative new technologies. The main aim of applied research is to provide better technology for human beings to enhance their standard of living. Example: Examining which approach to treatment is most effective for the treatment of cancer patients, while researching which strategies work best to motivate staff. 3. Quantitative ResearchQuantitative research is generally related with the positivist concept. It typically involves collecting and converting data into numerical form in order to be able to make statistical calculations and draw conclusions. Objectivity is very vital in quantitative research. They also examine their techniques and outcomes for any potential bias. The aim of quantitative research is the development of tophenomenon-related mathematical models and theories. In social sciences, quantitative research is used primarily. 4. Qualitative ResearchQualitative research is the approach generally associated with the concept of social constructivism, emphasizing the socially constructed nature of reality. It is about recording, analyzing and trying to reveal the meaning of the debt and trying to disclose it. Human behavior and experience, including conflicting beliefs, behaviors, and emotions, are important. Instead of what and when, the qualitative method tries to answer why and how to make decisions. The data collection and analysis approach is logical, but enables greater flexibility than quantitative research. On the basis of observation and communication with the participants, data is collected in textual form, such as through participant observation, in-depth interviews and focus groups. It is not converted into numerical form and is not statistically analysed. 5. Descriptive ResearchTo describe the characteristics of an observable fact being studied, descriptive research is used. Descriptive studies are structured in such a way that they cannot be frequently altered, so they can be said to be rigid in nature. They cannot detect the relationship of cause and effect between variables. Questions like who, when, where, what and how are answered by descriptive research. This type of study describes what exists and can help to disclose new facts and meanings. Descriptive research has the purpose of observing, describing and documenting. 6. Exploratory ResearchFor a problem which has not been clearly defined, exploratory research is conducted. The primary objective of this study is to collect initial information that helps to define problems and recommend hypotheses. Exploratory research helps to decide on the best research design, method of collecting data and subject selection. Exploratory research is often based on secondary research, such as the review of available research. Literature, or qualitative approaches through in-depth interviews, focus groups, projective approaches, case studies or pilot studies, such as informal discussions with customers, employees, management or competitors, and more formal approaches. Exploratory research can be carried out primarily when researchers lack a clear understanding of the problem. Exploratory research findings are generally not useful for decision-making, but they can provide significant insight into a given situation. 7. Historical ResearchIt is defined as the type of research that looks at past events or combinations of events to take into account what has happened in the past. Historical research is carried out to discover the unknown; to answer questions, to recognize the relationship that the past has with the present; to record and evaluate the activities of individuals, agencies, or institutions; and to help understand the culture in which we live. Historical research can show patterns that have occurred in the past and over time, which can make it easier for us to see where we came from and what kinds of solutions we used in the past. Usually, we will find that what we do today is specifically rooted in the past. Historical research involves the collection and reading process of the collected research material, and the writing of the document from the collected data. 8. Experimental ResearchIn sciences such as sociology and psychology, physics, chemistry, biology, medicine, etc., it is commonly used It is a set of research designs that use tampering and controlled testing to Understand basic processes. Typically, one or more variables are tampered with to determine their impact on a dependent variable. Experimental research is primarily used when: in a causal relationship there is time priority (cause precedes effect) or in a causal relationship there is uniformity (a cause will always lead to the same effect) or the magnitude of the correlation is large.
Q3) Write a note on qualitative and quantitative researchA3) Qualitative ResearchFocusIn short, qualitative research gives us vital insights into understanding why customers feel or behave in the way they do. It helps to identify and perceive the underlying opinions, patterns of behaviour and motivations. The formulation of hypotheses to be used for deeper exploration or quantification is helped by qualitative research. In a way, by understanding instead of measuring, it adds richness to the information collected by quantitative research. To sum up, the qualitative approach helps to decipher the less rational and more emotional view of the decision-making nature of the consumer, i.e. how would I feel if I were in the shoes of the consumer?UsageIn the following business situations, qualitative studies help:Market Study: Analyzing consumer interest in a specific demographic in the new concept of the company. New Product Development: Knowledge of the end user's real needs. Creative Development Research: Concerning branding; what and how to say it should be said. Research: Concerning branding; what should be said and how to say it. Diagnostic Studies: Understanding how the category or brand of the company works compared to the offerings and image of the competitor. TechniquesQualitative research can be carried out by:Focus Group Discussions: For qualitative studies, this is the most effective and preferred technique. Respondents are made comfortable and asked general questions first, in a group of 5-8 people. The conversation gradually shifts to the subject of research. It helps to obtain initial reactions to marketing programs or understand the impressions of customers about a new concept of a product. In Depth Interviews: Instead of focus groups, personal interviews are conducted in the following cases:Discussing sensitive, confidential or embarrassing subjects (Example: Hygiene problems for women) Detailed Sampling Requirement (Example: Purchase psychology for an automobile is best done with the respondent one on one) Situations where the respondent might be affected by the response of the group (Example: Opinion on TV censorship where social norms prevail) Interviews with extremely professional individuals with busy schedules (Example: Understanding required from doctors on a new medical topic ) Projective techniques are another term linked with qualitative research and worth mentioning here. These are ways of extracting information from respondents that capture the emotions in consumer behaviour. The hidden motivations often do not raise direct questions, as customers themselves are not fully aware of their reasons and are naturally unable to fully express themselves. There may be reasonable answers to direct questions, but they may not necessarily be 'real' answers. For this reason, projective techniques are used, such as those below:Brand Personalities: It is possible to test the strength of advertising by imagining brands as people or objects. Asking, for example, if Sun Silk were a person, what would he be like? Collages: Asking participants to draw brand collages to help understand what customers think about the brand's advertising symbols. Word Association: The first word that comes to mind when a specific word is mentioned. For instance, Coke maintains its strong brand image if the word Coke brings out the first word mentioned as happiness. Quantitative ResearchFocusThe aim of this technique is to consume numerical data and present facts in the study or to uncover patterns. The consequences of quantitative research are findings that are predictable because they are compiled statistically. Basically, while qualitative research is subjective, the quantitative method is more objective. Another characteristic of quantitative research is that it is drawn from a sample that is representative of the target population, reasonably sized and carefully selected. In the previous chapter, the methods of choosing a proper sample are discussed. Typically, a 95-percent confidence interval terminology is considered good when deciding the sample sizes.In fact, this implies that if the survey is repeated 100 times, the same response would be obtained 95 times.UsageFor determining cause-effect relationships, quantitative research is most commonly used. For instance, if the marketing budget is raised by 15%, how much the revenue is expected to rise. If the strength between the dependent variable (revenue) and the independent variable (marketing budget) is strong, the test hypothesis holds true and the business should invest more in its marketing. In this study, a decisive stance can therefore be taken from the facts presented. TechniquesVarious types of surveys using questionnaires are used to collect data for quantitative studies. The survey can be conducted through various media, such as face-to-face, email, telephone, online, etc. A detailed topic that will be covered in the next chapter is designing questionnaires for a survey. We will be exploring the methods for conducting a survey for now. Mail survey: Mail surveys are convenient and safeguard the respondent's anonymity. They are relatively inexpensive as well. The major disadvantage, however, is that the respondent is unable to obtain feedback. Telephonic & Face-to-face survey: In these types of surveys, there is little scope for error because the interviewer is available for assistance. While guiding, however, the interviewer can sometimes affect the respondent, leading to biased responses. Online: These days, surveys carried out on the internet are gaining popularity as they can reach a broad audience. The downside is that the respondent at the end may not be interested in taking up the survey or seriously answering all questions without incentive. Hybrid: To record better answers, a fusion of techniques can be used. Telephone-Mail-Telephone (TMT) is a commonly used hybrid method in which respondents are instructed over the telephone and then sent the survey over email to be filled out at their convenience. Q4) Write the Stages in research process.A4) There are several significant steps to follow whenever a scientific problem is to be solved. The problem, including any simplified assumptions, must be clearly stated. The following is a universal set of chronological components of research: Selection of a research topic Definition of a research problem Literature survey Evaluation of current status of the topic chosen Formulation of hypotheses Research design Actual investigation Data analysis Interpretation of result Report Q5) What are the Characteristics of Good Research?A5) 1. Uses Scientific Methods: In order to discover facts, research uses scientific methods and tries to offer solutions to specific problems. To carry out research, researchers follow organized processes. Scientific methodology for carrying out investigations is used to obtain better results.2. Continuous Process: It is a continuous process, as existing facts are studied and new facts are also developed. Research also attempts to distinguish the interaction between variables.3. Multipurpose Activity: Research is a multi-purpose activity, as it includes not only Data collection, however, also includes forecasting the future, establishing relationships between variables, finding solutions to problems, and developing new theories, instruments, and concepts.4. Maintains Objectivity and Eliminates Impartiality: Research is based on procedures that are appropriate. To understand research problems, it collects suitable, accurate and objective data. Researchers’ process data, analyze it and arrive at appropriate solutions after data collection.5. Empirical Nature: Empirical research can be undertaken to study situations in which research can be conducted using methods such as observation, experimentation or survey.6. Generalization: Conclusions from research can be applied to a large population. Research can be carried out on a sample of respondents representing the universe, where it is possible to apply the conclusions generated by research to the entire universe.7. Researchers Controlled Movement of the Research Procedure: There are many variables in social research that have an effect on outcomes. Some of them can be considered as controlled variables due to different factors, while others can be tested for possible consequences. However, it is difficult to perform controlled experiments in social research, while controlled experiments in pure science are easy to perform.8. Development of Concepts and Theories: Research helps to create new concepts and theories where such innovations can be useful on a large scale for the improvement of society. Q6) Write a note on Hypothesis.A6) The hypothesis is an assumption based on some evidence. This is the initial point of any investigation that translates a prediction into the research questions. This involves elements such as variables, population and the relationship between the variables. A hypothesis for research is a hypothesis used to test the relationship between two or more variables.Characteristics of HypothesisFollowing are the characteristics of hypothesis:To consider it to be reliable, the hypothesis should be clear and precise. If the hypothesis is a relational hypothesis, then the relationship between variables should be stated. The hypothesis must be specific and should have scope for more tests to be performed. The way the hypothesis is explained must be very simple and it should also be understood that the hypothesis's simplicity is not related to its significance. Sources of HypothesisThe similarity between phenomena. Observations from past research, present-day experiences and from rivals. Scientific ideas. General patterns that affect people's thinking process. Types of HypothesisSimple hypothesis Complex hypothesis Directional hypothesis Non-directional hypothesis Null hypothesis Q7) What is Research design and its essential elements?A7) The framework of research methods and techniques chosen by a researcher is research design. The design enables researchers to focus on research methods that are appropriate for the topic and set up their studies for success.The type of research (experimental, survey, correlational, semi-experimental, review) and its sub-type are explained by the design of a research subject (experimental design, research problem, descriptive case-study).Three main types of research design are available: collection, measurement, and analysis of data.The type of research issue facing an organization will determine the design of the research and not vice-versa. A study's design phase determines which instruments to use and how they are used.Usually, an impactful research design creates a minimum data bias and increases confidence in the accuracy of the data collected. In experimental research, a design that produces the least margin of error is generally considered the desired result. The essential elements of the design of the research are:Accurate purpose statement Techniques to be implemented for collecting and analyzing research The method applied for analyzing collected details Type of research methodology Probable objections for research Settings for the research study Timeline Measurement of analysis Q8) Write the four key characteristics of research design.A8) There are four key research design characteristics:Neutrality: You may have to make assumptions about the data you expect to gather when you set up your research. In the research design, the outcomes projected should be free from bias and neutral. Understand the views of multiple people on the final assessed scores and conclusions and consider those who agree with the derived results. Reliability: The participating investigator expects similar results each time with regularly conducted research. How to formulate research questions to ensure the standard of results should be indicated in your design. Only if your design is reliable will you be able to achieve the expected results.Validity: Multiple measuring tools are available. The only correct measuring tools, however, are those that assist a researcher in measuring outcomes according to the research objective. It will then be valid for the questionnaire developed from this design. Generalization: For a population and not just a limited sample, the result of your design should apply. A generalized design means that your survey can be carried out with similar precision on any part of a population.The above factors influence the way respondents answer the research questions and so all the above features in a good design should be balanced.To select which model to implement for a study, a researcher must have a clear understanding of the different kinds of research design. The design of your study can be broadly classified into quantitative and qualitative, just like research itself. Q9) What are the Types of research design?A9) 1. Descriptive research design: A researcher is solely interested in describing the situation or case in a descriptive design within their research study. It is a method of theory-based design that is developed by collecting, analyzing, and presenting collected data. This allows a researcher to provide insights into the research's why and how. Descriptive design helps others to better understand the study requirements. You can perform exploratory research if the problem statement is not clear.2. Experimental research design: Experimental research design establishes a relationship between a situation's cause and effect. It is a causal model where one observes the effect on the dependent variable caused by the independent variable. For instance, the effect of an independent variable such as a price on a dependent variable such as customer satisfaction or brand loyalty is monitored. As it contributes to solving a problem at hand, it is a highly practical method of research design. To monitor the shift it has on the dependent variable, the independent variables are manipulated. In social sciences, it is often used to observe human conduct by analyzing two groups. To gain a better understanding of social psychology, researchers can have participants change their actions and study how the individuals around them react.3. Correlational research design: Correlational research is a technique of non-experimental research design that helps researchers establish a relationship between two variables that are closely linked. Two different groups require this type of research. While evaluating a relationship between two different variables, there is no assumption, and the relationship between them is calculated by statistical analysis techniques. The correlation between two variables whose value varies between -1 and +1 is determined by a correlation coefficient. If the coefficient of correlation is +1, a positive relationship between the variables is indicated, and -1 means a negative relationship between the two variables.4. Diagnostic research design: In diagnostic design, the investigator seeks to evaluate the underlying cause of a particular subject or phenomenon. This technique helps one to learn more about the variables that create troubled situations.This design consists of three research components: Inception of the issueDiagnosis of the issue Solution for the issue 5. Explanatory research design: Explanatory design uses the ideas and thoughts of a researcher on a topic to explore their theories further. The study explains unexplored aspects of a topic and details of what, how, and why research questions are asked. Q10) Write the meaning of sampling and its types?A10) Sampling definition: Sampling is a method by which individual members or a subset of the population are selected to make statistical inferences from them and to estimate the characteristics of the entire population. In market research, different sampling methods are widely used by researchers so that they do not have to study the entire population to gather actionable insights. It is also a cost-effective and time-convenient method and therefore forms the basis of any research design. For optimal derivation, sampling techniques can be used in research survey software. For example, if a drug manufacturer would like to research the adverse side effects of a drug on the population of the country, a research study involving everyone is almost impossible to conduct. In this case, a sample of individuals from each demographic is decided by the researcher and then researched, giving him/her indicative feedback on the behavior of the drug. In statistical analysis, sampling is a process in which a predetermined number of observations are taken from a larger population. The methodology used to sample from a larger population depends on the type of analysis being conducted, but may involve simple random sampling or systematic sampling.Certified Public Accountants use sampling to assess the accuracy and completeness of account balances during audits. Sampling types include random sampling, block sampling, sampling of judgement, and systematic sampling. Companies use sampling to identify the needs and wants of their target market as a marketing tool. Probability sampling is a technique of sampling in which researchers use a method based on probability theory to choose samples from a larger population. This method of sampling takes every member of the population into consideration and forms samples based on a fixed process.For example: In a population of 1000 members, each member has a 1/1000 chance of being chosen to be part of a sample. Probability sampling eliminates population bias and gives a fair chance for all members to be included in the sample. Methods of Sampling There are four types of probability sampling techniques:Simple random sampling: = The Simple Random Sampling method is one of the best probability sampling methods that assists in saving time and resources. It is a reliable method of obtaining data where randomly, merely by chance, every single member of a population is chosen. Each person has the same likelihood of being chosen to be part of a sample. For example, if the HR team decides on conducting team building activities in an organization of 500 employees, it is highly likely that they would prefer to pick chits out of a bowl. Each of the 500 employees has an equal chance of being chosen in this case. Cluster sampling: Cluster sampling is a technique in which researchers divide the entire population into sections that represent a population or clusters. Based on demographic parameters such as age, sex, place, etc., clusters are identified and included in a sample. For a survey creator, this makes it very simple to derive effective inference from the feedback. For instance, if the government of the United States wants to assess the number of immigrants living in the Mainland US, they can divide it into groups based on states such as California, Texas, Florida, Massachusetts, Colorado, Hawaii, etc. Systematic sampling: In order to choose the sample members of a population at regular intervals, researchers use the systematic sampling method. It requires the selection of a starting point that can be repeated at regular intervals for the sample and sample size. This type of method of sampling has a predefined range, so this method of sampling is the least time-consuming one. A researcher, for example, intends to gather a systematic sample of 500 individuals in a population of 5000. Each element of the population is numbered from 1-5000 and every 10th individual is selected to be part of the sample (Total population/Sample Size = 5000/500 = 10). Stratified random sampling: Stratified random sampling is a technique in which the investigator divides the population into smaller groups that do not overlap but represent the population as a whole. These groups can be organized while sampling and then separately draw a sample from each group. For example, according to the annual family revenue, a researcher looking to analyze the characteristics of individuals belonging to different annual income divisions will create strata (groups). For example, less than $20,000, $21,000-$30,000, $31,000-$40,000, $41,000-$50,000, and so on. In doing so, the researcher concludes that individuals belonging to different income groups are characteristic. In order to create a roadmap that would bring fruitful results, marketers can analyze which income groups to target and which ones to eliminate.
Q3) Write a note on qualitative and quantitative researchA3) Qualitative ResearchFocusIn short, qualitative research gives us vital insights into understanding why customers feel or behave in the way they do. It helps to identify and perceive the underlying opinions, patterns of behaviour and motivations. The formulation of hypotheses to be used for deeper exploration or quantification is helped by qualitative research. In a way, by understanding instead of measuring, it adds richness to the information collected by quantitative research. To sum up, the qualitative approach helps to decipher the less rational and more emotional view of the decision-making nature of the consumer, i.e. how would I feel if I were in the shoes of the consumer?UsageIn the following business situations, qualitative studies help:
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