1 St. PETER'S UNIVERSITY St. Peter s Institute of Higher Education and Research (Decared Under Section 3 of the UGC Act, 1956) AVADI, CHENNAI TAMIL NADU STUDY MATERIAL M.B.A. PROGRAMME (Code No. 411) (Effective from ) II SEMESTER 209MBT27 APPLIED RESEARCH METHODS IN MANAGEMENT St. PETER'S INSTITUTE OF DISTANCE EDUCATION Recognized by Distance Education Counci and Joint Committee of UGC AICTE - DEC, New Dehi. (Ref. F.No.DEC/SPU/CHN/TN/Recog/09/14 dated & Ref. F.No.DEC/Recog/2009/3169 dated )
2 Author: U Bhojanna Copyright 2011, U Bhojanna No Part of this pubication which is materia protected by this copyright notice may be reproduced or transmitted or utiized or stored in any form or by any means now known or hereinafter invented, eectronic, digita or mechanica, incuding photocopying, scanning, recording or by any information storage or retrieva system, without prior written permission from the pubisher. Information contained in this book has been pubished by Exce Books Private Limited and has been obtained by its authors from sources beieved to be reiabe and are correct to the best of their knowedge. The University has edited the study materia to suit the curricuum and distance education mode. However, the pubisher/university and its author sha in no event be iabe for any errors, omissions or damages arising out of use of this information and specificay discaim any impied warranties or merchantabiity or fitness for any particuar use. Produced and printed by: Exce Books Private Ltd, A-45, Naraina, Phase-I, New Dehi
3 PREFACE St. Peter s University has been recognized by the Distance Education Counci, and Joint Committee of UGC- AICTE-DEC, for offering various programmes incuding B.Tech., D.Tech., MBA, MCA and other programmes in Humanities and Sciences through Distance Education mode. The Methodoogy of Distance Education incudes sef-instructiona study materias in print form, face-to-face conseing, practica casses, virtua casses in phased manner and end assessment. The basic support for distance education students ies on the sef instructiona study materias. Keeping this in mind, the study materias under distance mode are prepared. The main features of the study materias are (1) earning objectives (2) sef expanatory study materias unitwise (3) sef tests (4) ist of references for further studies. The materia is prepared in simpe Engish and graded in terms of technica content. It is buit upon the pre-requisite knowedge. Students are advised to study the materias severa times and get benefitted. The face-to-face session in the counseing centre wi hep them to cear their doubts and difficut concepts which they woud have faced during the earning process. Students shoud remember that sef study and sustained motivation are the two important requirements for a successfu earning under the distance education mode. We wish the students to put forth their best efforts to become successfu in their chosen fied of earning. Registrar St. Peter s University
5 CONTENTS Scheme of Examinations Syabus of Appied Research Methods in Management Mode Question Paper Page vi x xi UNIT I: INTRODUCTION TO RESEARCH Lesson 1 Research Fundamentas 3 Lesson 2 Research Process: Theoretica Framework and Hypothesis Deveopment 16 Lesson 3 The Research Process: Eements of Research Design 25 UNIT II: EXPERIMENTAL DESIGN Lesson 4 Experimenta Designs 39 Lesson 5 Measurement and Measurement Scaes 47 UNIT III: DATA COLLECTION METHOD Lesson 6 Data Coection Methods 63 Lesson 7 Specia Data Source 82 Lesson 8 Samping 88 UNIT IV: A REFRESHER ON SOME MULTIVARIATE STATISTICAL TECHNIQUES Lesson 9 Mutivariate Statistica Techniques 111 Lesson 10 Appication of SPSS Package 124 UNIT V: THE RESEARCH REPORT Lesson 11 Fundamentas of Report 139 Lesson 12 Report Writing 146
6 Scheme of Examinations I Semester Code No. Course Tite Credit Marks Theory EA Tota 109MBT11 Management Principes & Organisationa Behaviour MBT12 Economic Anaysis for Business Decisions MBT13 Statistics for Management MBT14 Appied Operation Research for Management MBT15 Financia and Management Accounting MBT16 Lega Environment of Business MBT17 Executive Communication Tota II Semester Code No. Course Tite Credit Marks Theory EA Tota 209MBT21 Production & Operation Management MBT22 Financia Management Decisions MBT23 Marketing for Managers MBT24 Human Resource Management MBT25 Computer Appications and Management Information System MBT26 Tota Quaity Management MBT27 Appied Research Methods in Management MBP01 Computer Lab for Business Administration Record Tota
7 III Semester Code No. Course Tite Credit Marks Theory EA Tota 309MBT01 Internationa Business Management MBT02 Strategic Management E1*** Eectives I E2*** Eectives II E3*** Eectives III E4*** Eective IV E5*** Eective V E6*** Eective VI Tota *** Any one group of eectives from Marketing, Finance, Human Resource Management and System is to be chosen. IV Semester Code No. Course Tite Credit Marks Theory EA Tota 409MBT01 Marketing Research and Consumer Behaviour MBT02 Entrepreneurship Deveopment MBP01 Project and Vivavoce * Tota * In ieu of Project and Vivavoce, 409MBT03 - E-Commerce Technoogy and Management (6 Credits) is offered for Distance Education Students.
8 LIST OF ELECTIVES MARKETING ELECTIVES Code No. Course Tite Credit Marks Theory EA Tota 309MBT03 Retai Management MBT04 Services Marketing MBT05 Advertising and Saes Promotion MBT06 Internationa Marketing MBT07 Brand Management MBT08 Rura and Socia Marketing Tota FINANCE ELECTIVES Code No. Course Tite Credit Marks Theory EA Tota 309MBT09 Security Anaysis and Portfoio Management MBT10 Merchant Banking and Financia Services MBT11 Internationa Trade Finance MBT12 Strategic Financia Management MBT13 Corporate Finance MBT14 Derivatives Management Tota
9 HUMAN RESOURCE MANAGEMENT ELECTIVES Code No. Course Tite Credit Marks Theory EA Tota 309MBT15 Manageria Behaviour and Effectiveness MBT16 Organisationa Change & Intervention Strategy MBT17 Industria Reations and Labour Wefare MBT18 Labour Legisations MBT19 Strategic Human Management and Deveopment MBT20 Corporate Governance & Corporate Socia Responsibiity Tota SYSTEM ELECTIVES Code No. Course Tite Credit Marks Theory EA Tota 309MBT21 Software Deveopment MBT22 Database Management Systems MBT23 Enterprise Resource Panning for Management MBT24 Software Project and Quaity Management MBT25 Decision Support System MBT26 Information Technoogy for Management Tota
10 209MBT27 APPLIED RESEARCH METHODS IN MANAGEMENT Syabus UNIT I: INTRODUCTION TO RESEARCH The hamarks of scientific research The buiding bocks of science in research The research process for appied and basic research The need for theoretica frame work Hypothesis deveopment Hypothesis testing with quantitative data. The research design. The purpose of the study: Exporatory, Descriptive, Hypothesis testing (Anaytica and Predictive) Cross sectiona and ongitudina studies. UNIT II: EXPERIMENTAL DESIGN The aboratory and the fied experiment Interna and externa vaidity Factors affecting interna vaidity. Measurement of variabes Scaes and measurement of variabes Deveopment scaes Rating scae and concept in scaes being deveoped. Stabiity measures. UNIT III: DATA COLLECTION METHOD Interviewing questionnaires etc. Secondary sources of data coection. Guideines for questionnaire design Eectronic questionnaire design and surveys. Specia data source: Focus group, Static and dynamic data-coection methods and when to use each. Samping techniques and confidence in determining sampe size. Hypothesis testing determination of optima sampe size. UNIT IV: A REFRESHER ON SOME MULTIVARIATE STATISTICAL TECHNIQUES 15 Factor anaysis Custer anaysis Discriminant anaysis Mutipe regression & correation Canonica correation Appication of SPSS package. UNIT V: THE RESEARCH REPORT The purpose of the written report Concept of audience Basics of written reports. The integra parts of a report The tite of a report. The tabe of content, the synopsis, the introductory section, method of sections of a report, resut section Discussion section Recommendation and impementation section. TEXT BOOKS: 1. Donad R. Cooper and Ramcis S. Schinder, Business Research Methods, Tata McGraw Hi Pubishing Company Limited, New Dehi, C.R. Kothari, Research Methodoogy, Wishva Prakashan, New Dehi, Kumar, Bhattacharya, Research Methodoogy, 2nd Edition, Exce Books, New Dehi. 4. R.Nandha Gopa, K.Aru Rajan, N.Vivek, Research Methods in Business, Exce Books, New Dehi. REFERENCES: 1. Uma Sekaran, Research Methods for Business, John Wiey and Sons Inc., New York, Donad H.Mc.Burney, Research Methods, Thomson Asia Pvt. Ltd. Singapore, G.W. Ticehurst and A.J. Vea, Business Research Methods, Longman, Ranjit Kumar, Research Methodoogy, Sage Pubication, London, New Dehi, Raymond-Aain Thie'tart, et a., Doing Management Research, Sage Pubication, London, 1999.
11 MODEL QUESTION PAPER M.B.A. DEGREE EXAMINATIONS Second Semester 209MBT27 - APPLIED RESEARCH METHODS IN MANAGEMENT (Reguations 2009) Time: 3 hours Maximum: 100 Marks Answer ALL the questions PART A (10 2 = 20 Marks) 1. Define research. 2. What do you mean by appied research? 3. Differentiate between dependent and independent variabe. 4. What is the method of paired comparisons? 5. What are the two methods of interview? 6. What is hypothesis according to a researcher? 7. What are the different methods of factor anaysis? 8. What are the two types of mutivariate techniques? 9. What are the contents of preiminary pages? 10. What is a popuar report? PART B (5 16 = 80 Marks) 11. (a) What are the different types of research? or (b) Expain the research process in detai. 12. (a) What are the different techniques in scae construction? or (b) What are the compex random samping designs? 13. (a) Differentiate between questionnaires and schedues. or (b) How do you determine the sampe size?
12 14. (a) What are the different variabes in mutivariate anaysis? or (b) Expain some of the important mutivariate anaysis. 15. (a) What are the steps in writing report? or (b) What is the outine of a technica report?
13 Unit I Introduction to Research
15 LESSON 1 RESEARCH FUNDAMENTALS STRUCTURE 1.0 Objectives 1.1 Introduction 1.2 The Hamarks of Scientific Research 1.3 The Buiding Bocks of Science in Research 1.4 The Research Process for Appied and Basic Research Probem Formuation Evauate the Cost of Research Preparing a List of Needed Information Decision on Research Design Data Coection Seect the Sampe Types Determine the Sampe Size Organise the Fiedwork Anayse the Data and Report Preparation 1.5 Let us Sum up 1.6 Gossary 1.7 Suggested Readings 1.8 Questions 1.0 OBJECTIVES After studying this esson, you shoud be abe to: Discuss the hamarks of scientific research Expain the buiding bocks of science in research Eucidate upon the research process for appied and basic research 1.1 INTRODUCTION Research in common man's anguage refers to "search for Knowedge". Research is an art of scientific investigation. It is aso a systematic design, coection, anaysis and reporting the findings & soutions for the marketing probem of a company. Research is required because of the foowing reasons:
16 4 Appied Research Methods in Management 1. To Identify and Find Soutions to the Probem: To understand the probem in depth Exampe: "Why is that demand for a product is faing"? "Why is there a business fuctuation once in three years"? By identifying the probem as above, it is easy to coect the reevant data to sove the probem. 2. To Hep Making Decisions: Exampe: Shoud we maintain the advertising budget same as ast year? Research wi answer this question. 3. To Find Aternative Strategies: Shoud we foow pu strategy or push strategy to promote the product. 4. To Deveop New Concepts: Exampe: CRM, Horizonta Marketing, MLM etc. 1.2 THE HALLMARKS OF SCIENTIFIC RESEARCH The hamarks or main distinguishing characteristics of scientific research may be isted foows: 1. Purposiveness 2. Rigor 3. Testabiity 4. Repicabiity 5. Precision and Confidence 6. Objectivity 7. Generaisabiity 8. Parsimony Let us discuss each of them one by one. 1. Purposiveness: The research must have an aim; that is, it shoud be probembased, unified and directed. Not pointess and random. A testabe hypothesis is normay needed in scientific writing to consoidate purpose of study. This aso 'narrows down' the project to a manageabe size. (This 'narrowing' is aso essentia in order to compete the project in a imit time.) Exampe: Consider the foowing topics: (a) The environment and the Indian economy (b) The probem of poution in the environment and its impact on the Indian economy (c) The probem of ocean spis and their economic impact on the Indian economy (d) The probem of oi spis and their economic impact on the US economy (e) The 1989 Aaskan Oi and its impact on the US economy (f) Consequences of the 1989 Aaskan Oi Spi on share prices in the Aaskan economy from 1989 to 2002 (g) Is more narrow and has a cear purpose than (a)-(d). The first thing that you shoud do is to formuate a research question that is meaningfu, narrow and cear.
17 2. Rigour: The project shoud have sound methodoogica design. It shoud be 'scientific' and/or 'ogica'. Concusions must foow from accepted premises defended and tested in the course of the research. One can't base the concusions on a few interviews with company empoyees, for exampe. In the above exampe (f) ends to a rigorous approach ony if: a number of features of the Aaskan economy ony if: a number of features of the Aaskan economy are considered and tested under a range of different conditions and if 'consequences' are measured using a number of independent economic modes. Consider: v phrasing of research question (see 4. Hypothesis formation, beow) v phrasing of survey questions v Sampe size (how many is needed?) v cause and effect (which is which?) v choice of reevant variabes. Rigour is aso ensured by an appropriatey wide search and discussion of the iterature in the area. This not ony heps in making the study rigorous by avoiding probems in these areas that others might have made, but it ensures that the study is unique. 3. Isoating Variabes: Getting cear about your variabes is critica: you must distinguish your dependent variabes (the things you are ooking at), from the independent variabe(s) (things that infuence the dependent variabe) and the moderating variabe(s) (things that modify the reationship between the DV and V) and the intervening variabe(s) (things that may turn up after the moderating variabe(s) have had their effect(s), but does not change that reationship). For exampe, in the previous case given: v Aaskan share prices are the dependent variabes v The 1989 Aaskan oi spi is the independent variabe v the genera infuences on Aaskan share prices are moderating variabes (e.g., the state of the word economy, trade with other countries, etc.) v Other factors which may normay have an impact on share prices (consumer sentiment, terrorism, etc.), but need not change the reationship between the DV and the IV might be interviewing variabes. 4. Hypothesis Formation: A cear hypothesis (even if not expicity stated in the dissertation) wi ensure that your dissertation has a focus/purpose and direction. It aso ensures that you answer a research question of some kind, rather than rambe from one topic to another. The hypothesis(es) are the connecting membranes that hods the research together. The hypothesis can be in severa formats: Conditiona statements (if...then): v If empoyees are more heathy then they wi take sick eave ess frequenty. In the non-conditiona form: v Empoyees who are more heathy wi take sick eave ess frequenty. 5 Research Fundamentas
18 6 Appied Research Methods in Management It is ess cear what constitutes evidence for or against this atter proposition than in the conditiona form. The conditiona form requires you to actuay do something to demonstrate the point. It is not just an unsupported assertion. Directiona statements: v The greater the stress experienced in the job, the ower the job satisfaction of empoyees. Again, ike conditiona, using directions: 'more than' 'ess than', 'negative', 'position' etc., force you to do something to demonstrate the point you are making. It begs justification. Non-directiona statements: These postuate a reationship between variabes, but offer no indication of direction. v There is a difference between the work ethic vaues of Austraian and Asian empoyees. This aso begs carification and expansion. This may be used in an area where there has not yet been demonstrated that there is a significant reationship between variabes, or when studies indicate contradictory findings and where the direction of the reationship is uncear. 5. Testabiity: The research aim must be testabe. It is no good having a cear purpose if it isn't testabe. In previous exampe, the hypothesis (say) that oi spis have an impact on where consumers go shopping is hardy testabe (even though it may be true)! How woud one test this caim? How woud one know that the independent variabe was the ony factor infuencing their choices? For testabiity, you might consider using a combination of data sources: v Statistics v Surveys v Literature v Interviews...etc. Never use one measurement aone as individuay the tests may be miseading. A way of being sure that you have precise data is to use convergent vaidity as a test. (i.e. use a number of tests of the same data and see if the resuts of those tests of the same data and see if the resuts of those tests can be correated.) This is caed trianguation. 6. Repicabiity: Your research must in principe be abe to be repeated by others. This requires: (a) that the experimenta/case aims and procedures are sound; (b) that the report is written in cear and comprehensibe manner so others can foow it A project which both 'stands aone' as a sound piece of research and can aso be repeated by others in other situations is obviousy better than one which can't be repeated. 7. Precision and Confidence: "The more precision and confidence we aim for in our research, the more scientific the investigation, and the more usefu the resuts." This simpy means that the resuts must be as cose as possibe (accurate) to the
19 actua state of affairs that you are studying and that others can rey on those resuts to a high degree. These requirements are obviousy not static: that's why research needs to be done constanty to improve our knowedge and experimenta accuracy in a changing word. For exampe, the exact reason why peope buy trouser braces is somewhat different now to the reasons peope bought them three centuries ago (then they were needed to hod trousers up, now they can be just a fashion statement). You may use statistics (e.g., apha eves) as a measure of significance (confidence) but the precision of your data prior to submitting it to statistica anaysis must be constanty reassessed. 8. Objectivity: Concusions shoud not be based on subjective/emotiona vaues but the facts resuting from the data anaysis. The data shoud be stripped of persona vaues and biases. There is no point in doing a serious experiment or case study if the concusions you make are not based on data, but your pre-judged opinion of what shoud have happened. (This is circuar and sef-justifying) From the point of view of good research design, it is as important to find out, for exampe, that aerobic activities do not increase cognitive speed in oder aduts as to find out that they do. Other researchers can then forget this variabe and ook at something ese. A sautary esson about research is this: "The (researcher) is a mere private in an army pursuing truth". 9. Generaisabiity: The more that a given research project can be generaised to other situations, the better 'If a researcher's findings that participation in decision making enhances organisationa commitment, is found to be true in a variety of manageria, industria and service organisations and not merey in the one organisation studied by the researcher, then the generaisabiity of the findings to other organisationa settings is widened'. There is a tension here, of course, with other aims: to aim to compete a project that is both generaisabe and aso manageaby narrow in focus is a ta order. The aim of generaisabiity is a reguative idea rather than being essentia. If your research project is generaisabe as we as narrowy focussed, we and good. 10. Parsimony: Economy of expanation is preferred in research work that you are undertaking. Aim to uncover a sma but meaningfu resut in your work, not something vast and compex. Making a sma, simpe but significant point forcefuy (using a number of independent tests) is better than trying to do too much and over-extending yoursef. 7 Research Fundamentas 1.3 THE BUILDING BLOCKS OF SCIENCE IN RESEARCH The appication of vaid and reiabe research methods serves as the buiding bocks of science in research. It has three distinct characteristics: Objectivity: The research based on scientific approach shoud enabe the researcher to cassify facts accuratey and carefuy, without any bias. Accuracy of Measurement: A mere coection and cassification of the facts may not be sufficient. One must be abe to make observations of their correation and sequence, which can be derived as a resut of imagination and painstaking efforts of the researchers.
20 8 Appied Research Methods in Management Sef Criticism: Scientists shoud criticay examine their own research as they are a group of peope who are never sure that they have found the utimate truth; their studies are exhaustive. If researchers are competey objective, their measurements are accurate and their studies are exhaustive, then their resuts wi be vaid and reiabe. Check Your Progress 1 Fi in the banks: 1. Concusions shoud not be based on... vaues but the facts resuting from the data anaysis. 2. The three main buiding bocks of science in research are...,... and THE RESEARCH PROCESS FOR APPLIED AND BASIC RESEARCH Unti the sixteenth century, human inquiry was primariy based on introspection. The way to know things was to turn inward and use ogic to seek the truth. This paradigm had endured for a miennium and was a we-estabished conceptua framework for understanding the word. The seeker of knowedge was an integra part of the inquiry process. A profound change occurred during the sixteenth and seventeenth centuries. The Scientific Revoution was born. Objectivity became a critica component of the new scientific method. The investigator was an observer, rather than a participant in the inquiry process. A mechanistic view of the universe evoved. We beieved that we coud understand the whoe by performing an examination of the individua parts. Experimentation and deduction became the toos of the schoar. For two hundred years, the new paradigm sowy evoved to become part of the reaity framework of society. The research process is a step-by-step process of deveoping a research paper. As you progress from one step to the next, it is commony necessary to backup, revise, add additiona materia or even change your topic competey. This wi depend on what you discover during your research. There are many reasons for adjusting your pan. For exampe, you may find that your topic is too broad and needs to be narrowed, sufficient information resources may not be avaiabe, what you earn may not support your thesis, or the size of the project does not fit the requirements. The research process itsef invoves identifying, ocating, assessing, anaysing, and then deveoping and expressing your ideas. These are the same skis you wi need outside the academic word when you write a report or proposa for your boss. There are nine steps in the research process, that can be foowed whie designing a research project. They are as foows: 1. Formuate the probem 2. Evauate the cost of research 3. Prepare the ist of information 4. Research design decision 5. Data coection 6. Seect the sampe type 7. Determine the sampe size
21 8. Organise the fied work 9. Anayse the data and report preparation Defining the research probem and formuation of hypothesis are the hardest steps in the research process. 9 Research Fundamentas Probem Formuation Probem formuation is the key to research process. For a researcher, probem formuation means converting the management probem to a research probem. In order to attain carity, the MR manager and researcher must articuate ceary so that perfect understanding of each others is achieved. Whie probem is being formuated, the foowing shoud be taken into account: 1. Determine the objective of the study. 2. Consider various environment factors. 3. Nature of the probem. 4. State the aternative 1. Determine the objective: Objective may be genera or specific. Genera Woud ike to know, how effective was the advertising campaign. The above ooks ike a statement with objective. In reaity, it is far from it. There are two ways of finding out the objectives precisey. (a) The researcher shoud carify with the MR manager "What effective means". Does effective mean, awareness or does it refer to saes increase or does it mean, it has improved the knowedge of the audience, or the perception of audience about the product. In each of the above circumstances, the questions to be asked from audience varies (b) Another way to find objectives is to find out from the MR Manager, "What action wi be taken, given the specified outcome of the study. Exampe: If research finding is that, the previous advertisement by the company was indeed ineffective, what course of action the company intends to take (a) Increase the budget for the next Ad (b) Use different appea (c) Change the media (d) Go to a new agency. If objectives are proper, research questions wi be precise. However we shoud remember that objectives, do undergo a change. 2. Consider environmenta factors: Environmenta factors infuence the outcome of the research and the decision. Therefore, the researcher must hep the cient to identify the environmenta factors that are reevant. Exampe: Assume that the company wants to introduce a new product ike Iced tea or frozen green peas or ready to eat chapaties. The foowing are the environmenta factors to be considered: (a) Purchasing habit of consumers. (b) Presenty, who are the other competitors in the market with same or simiar product. (c) What is the perception of the peope about the other products of the company, with respect to price, image of the company. (d) Size of the market and target audience. A the above factors coud infuence the decision. Therefore researcher must work very cosey with his cient.
22 10 Appied Research Methods in Management 3. Nature of the probem: By understanding the nature of the probem, the researcher can coect reevant data and hep suggesting a suitabe soution. Every probem is reated to either one or more variabe. Before starting the data coection, a preiminary investigation of the probem is necessary, for better understanding of the probem. Initia investigation coud be, by using focus group of consumers or saes representatives. If focus group is carried out with consumers, some of the foowing question wi hep the researcher to understand the probem better: (a) Did the customer ever incuded this company's product in his menta map? (b) If the customer is not buying the companies product, the reasons for the same. (c) Why did the customer go to the competitor? (d) Is the researcher contacting the right target audience? 4. State the aternatives: It is better for the researcher to generate as many aternatives as possibe during probem formuation hypothesis. Exampe: Whether to introduce a Sachet form of packaging with a view to increase saes. The hypothesis wi state that, acceptance of the sachet by the customer wi increase the saes by 20%. Thereafter, the test marketing wi be conducted before deciding whether to introduce sachet or not. Therefore for every aternative, a hypothesis is to be deveoped Evauate the Cost of Research There are severa methods to estabish the vaue of research. Some of them are (1) Bayesian approach (2) Simpe saving method (3) Return on investment (4) Cost benefit approach etc. Exampe: Company 'X' wants to aunch a product. The company's intuitive feeing is that, the product faiure possibiities is 35%. However, if research is conducted and appropriate data is gathered, the chances of faiure can be reduced to 30%. Company aso has cacuated, that the oss woud be Rs. 3,00,000 if product fais. The company has received a quote from MR agency. The cost of research is Rs. 75,000. The question is "Shoud the company spend this money to conduct research?" Soution: Loss without research = 3,00, = Rs. 1,05,000 Loss with research = 3,00, = Rs. 90,000 Vaue of research information = 1,05,000 90,000 = Rs. 15,000 Since the vaue of information namey Rs is ower than the cost of research Rs. 75,000, conducting research is not recommended Preparing a List of Needed Information Assume that company 'X' wants to introduce a new product (Tea powder). Before introducing it, the product has to be test marketed. The company needs to know the
23 extent of competition, price and quaity acceptance from the market. In this context, foowing are the ist of information required. 1. Tota demand and company saes: Exampe: What is the overa industry demand? What is the share of the competitor? The above information wi hep the management to estimate overa share and its own shares, in the market. 2. Distribution coverage: Exampe: (a) Avaiabiity of products at different outets. (b) Effect of shef dispay on saes. 3. Market awareness, attitude and usage: Exampe: "What percentage of target popuation are aware of firm's product"? "Do customers know about the product"? "What is the customers' attitude towards the product"? "What percentage of customers repurchased the product"? 4. Marketing expenditure: Exampe: "What has been the marketing expenditure"? "How much was spent on promotion"? 5. Competitors marketing expenditure: Exampe: "How much competitor spent, to market a simiar product"? 11 Research Fundamentas Decision on Research Design 1. Shoud the research be exporatory or concusive? Exporatory research: Exampe: "Causes for decine in saes of a specific company's product in a specific territory under a specific saesman". The researcher may expore a possibiities why saes in faing? (a) Fauty product panning (b) Higher price (c) Less discount (d) Less avaiabiity (e) Inefficient advertising/saesmanship (f) Poor quaity of saesmanship (g) ess awareness Not a factors are responsibe for decine in saes. Concusive research: Narrow down the option. Ony one or two factors are responsibe for decine in saes. Therefore zero down, and use judgment and past experience. 2. Who shoud be interviewed for coecting data: If the study is undertaken to determine whether, chidren infuence the brand, for ready - to eat cerea (corn fakes) purchased by their parents. The researcher must decide, if ony aduts are to be studied or chidren are aso to be incuded. The researcher must decide if data
24 12 Appied Research Methods in Management is to be coected by observation method or by interviewing. If interviewed, "Is it a persona interview or teephonic interview or questionnaire?" 3. Shoud a few cases be studied or choose a arge sampe: The researcher may fee that, there are some cases avaiabe which are identica and simiar in nature. He may decide to use these cases for formuating the initia hypothesis. If suitabe cases are not avaiabe, then the researcher may decide to choose a arge sampe. 4. How to incorporate experiment in research: If it is an experiment, "Where and when measurement shoud take pace?", shoud be decided. Exampe: In a test of advertising copy, the respondents can first be interviewed to measure their present awareness, and their attitudes towards certain brands. Then, they can be shown a piot version of the proposed advertisement copy, foowing this, their attitude aso is to be measured once again, to see if the proposed copy had any effect on them. If it is a questionnaire, (a) What are the contents of the questionnaire? (b) What type of questions to be asked? Like pointed questions, genera questions etc. (c) In what sequence shoud it be asked? (d) Shoud there be a fixed set of aternatives or shoud it be open ended? (e) Shoud the purpose be made cear to the respondents or shoud it be disguised, are to be determined we in advance? Data Coection The next step is that of data coection. Data coection is a term used to describe a process of preparing and coecting data for exampe as part of a process improvement or simiar project. The purpose of data coection is to obtain information to keep on record, to make decisions about important issues, to pass information on to others. A research study, most often than not, is based on the data coected and the information reveaed after processing that data Seect the Sampe Types The first task is to carefuy seect "What groups of peope or stores are to be samped". For exampe, coecting the data from a fast food chain. Here, it is necessary to define what is meant by fast food chain. Aso precise geographica ocation shoud be mentioned. Next step is to decide whether to choose probabiity samping or non probabiity samping. Probabiity samping is one, in which each eement has a known chance of being seected. A non-probabiity samping can be convenience or judgment samping Determine the Sampe Size Smaer the sampe size, arger the error, vice versa. Sampe size depends up on (a) Accuracy required (b) Time avaiabe (c) Cost invoved. Whie seecting the sampe, the sampe unit has to be ceary specified. Exampe: Survey on the attitudes towards the use of shampoo with reference to a specific brand, where husbands, wives or combination of a of them are to be surveyed or a specific segment is to be surveyed. Sampe size depends on the size of the sampe frame/universe Organise the Fiedwork This incudes seection, training and evauating the fied saes force to coect the data: (a) How to anaysing the fied work? (b) What type of questionnaire - structured/unstructured to use?
25 (c) (d) How to approach the respondents? Week, day and time to meet the specific respondents etc., are to be decided. 13 Research Fundamentas Anayse the Data and Report Preparation This invoves (a) Editing, (b) Tabuating, (c) Codifying etc. 1. The data coected shoud be scanned, to make sure that it is compete and a the instructions are foowed. This process is caed editing. Once these forms have been edited, they must be coded. 2. Coding means, assigning numbers to each of the answers, so that they can be anaysed. The fina step is caed as data tabuation. It is the ordery arrangement of the data in a tabuar form. Aso at the time of anaysing the data, the statistica tests to be used must be finaized such as T-Test, Z-test, Chi-square Test, ANOVA etc. Check Your Progress 2 Fi in the banks: 1. There are... steps in the research process incudes seection, training and evauating the fied saes force to coect the data. Case: Nivea's Foray into the Men's Fairness Cream Market in India In May 2007, Beiersdorf AG, the German company which owns Nivea, a major goba skin and body care brand, aunched a new ine of products under the 'Nivea for Men' name in India. The aunch of the Nivea for Men ine in India marked the company's entry into the mae grooming segment in the country. In India, Nivea had been primariy known for its moisturising creams. This decision of foray into the men's fairness cream market in India was made after the conducting extensive market research by Nivea as we as the coecting information from the researches made on simiar topics by the main payers of the same industry. The eary 2000s had witnessed an increased interest in persona grooming among men. According to anaysts, men were becoming more conscious of their ooks, as in the business word as we as in society, a ot rode on how a person presented himsef. Surveys carried out by cosmetics companies suggested that a arge number of Indian men were using fairness creams that were originay targeted at women. For exampe, a study conducted by Emami Industries (Emami) in the eary 2000s showed that 29% of the users of fairness creams were men. Going by this trend, companies started deveoping men's grooming products that went beyond shaving products and deodorants. In 2005, with the aunch of 'Fair and Handsome', Emami became the first company in India to aunch a fairness cream excusivey for men. Fair and Handsome was foowed in 2006 by Hindustan Lever Limited's (HLL) Fair and Lovey Menz Active, another fairness cream for men. HLL used the brand strength of one of its most popuar products, Fair and Lovey, in aunching this product. Menz Active was aso aunched amidst heavy promotion. Contd...
26 14 Appied Research Methods in Management Anaysts said that the aunch of Menz Active woud intensify the competition in the men's fairness products segment. The tota size of the grooming products market in India was estimated to be worth Rs. 8.0 biion in In its foray into the Indian men's fairness cream market, Nivea took a different approach, targeting a distinct customer segment. According to Nivea India's Managing Director, Kai Boris Bendix (Bendix), the company's target customers were upper and midde cass men. On the other hand, Emami and HLL targeted both the urban and rura markets, cutting across the segments. Bendix aso said that his company expected to grow the men's fairness cream market in a different direction, rather than take market share away from competitors. In India, Nivea's share in the cosmetics and toietries segment stood at 0.2% as of mid Bendix said that the company was aiming at achieving a 5% market share in India by It was expected that if these companies' products performed we, then it woud encourage severa other companies to aunch new ines of cosmetics excusivey for men. Questions 1. Was it correct on part of Nivea to foow suit initiated by Emami and HLL? 2. What basis do you see in Emami coming up with Fair and Handsome and create a new category atogether? 3. According to your anaysis, why do you see Nivea succeeding/faiing in its endeavour? Source: LET US SUM UP Research originates in a decision process. In research process, management probem is converted into a research probem which is the major objective of the study. Research question is further subdivided, covering various facets of the probem that need to be soved. The roe and scope of research has greaty increased in the fied of business and economy as a whoe. The study of research methods provides you with knowedge and skis you need to sove the probems and meet the chaenges of today is modern pace of deveopment. 1.6 GLOSSARY Marketing Research: Marketing research is about researching the whoe of a company's marketing process. Advertising Research: It is a speciaised form of marketing research conducted to improve the efficacy of advertising. Product Research: This ooks at what products can be produced with avaiabe technoogy, and what new product innovations near-future technoogy can deveop. Ad Tracking: It is periodic or continuous in-market research to monitor a brand's performance using measures such as brand awareness, brand preference, and product usage. Concept Testing: To test the acceptance of a concept by target consumers. Copy Testing: It predicts in-market performance of an ad before it airs by anaysing audience eves of attention, brand inkage, motivation, entertainment, and communication, as we as breaking down the ad's fow of attention and fow of emotion.
27 Mystery Shopping: An empoyee or representative of the market research firm anonymousy contacts a saesperson and indicates he or she is shopping for a product. The shopper then records the entire experience. Exporatory Research: Exporatory research provides insights into and comprehension of an issue or situation. 15 Research Fundamentas Check Your Progress: Answers CYP 1 1. subjective/emotiona 2. objectivity, accuracy of measurement, sef criticism CYP 2 1. nine 2. Organising the fiedwork 1.7 SUGGESTED READINGS S. N. Murthy and U. Bhojanna, Business Research Methods, Exce Books, Abrams, M.A., Socia Surveys and Socia Action, London: Heinemann, Arthur, Maurice, Phiosophy of Scientific Investigation, Batimore: John Hopkins University Press, Berna, J.D., The Socia Function of Science, London: George Routedge and Sons, Chase, Stuart, The Proper Study of Mankind: An inquiry into the Science of Human Reations, New York, Harper and Row Pubishers, QUESTIONS 1. An Indian company deaing in pesticides hires a quaified business management graduate to expand its marketing activities. Most of the current empoyees of the company are quaified chemists with science background. During their first review meeting the management graduate says that the "company shoud be invoved in market research to get a better perspective of the probem on hand". On hearing this, one of the science graduate aughs and says "There is no such thing as marketing or business research, research is combined to science aone." What woud be your response? 2. How does a research hep the managers to determine the pattern of consumption? 3. Company 'A' woud ike to introduce a new product in the market. The research agencies has given an estimation of 5 akhs and a time period of five months. According the past experience of the company, the probabiity of earning 10 akhs is 0.4 and 5 akhs is 0.3 and oosing 7 akhs is 0.3. Shoud the company under take the research?
28 16 Appied Research Methods in Management LESSON 2 RESEARCH PROCESS: THEORETICAL FRAMEWORK AND HYPOTHESIS DEVELOPMENT STRUCTURE 2.0 Objectives 2.1 Introduction 2.2 The Need for Theoretica Framework 2.3 Hypothesis: Meaning 2.4 Hypothesis Deveopment 2.5 Hypothesis Testing with Quantitative Data Logic behind Hypothesis Testing Type-I Error Type-II Error The Testing Procedure 2.6 Let us Sum up 2.7 Gossary 2.8 Suggested Readings 2.9 Questions 2.0 OBJECTIVES After studying this esson, you shoud be abe to: Describe the need for a theoretica framework in research Expain the process of hypothesis deveopment Eucidate upon the methodoogy of hypothesis testing 2.1 INTRODUCTION Unti the sixteenth century, human inquiry was primariy based on introspection. The way to know things was to turn inward and use ogic to seek the truth. This paradigm had endured for a miennium and was a we-estabished conceptua framework for understanding the word. The seeker of knowedge was an integra part of the inquiry process. A profound change occurred during the sixteenth and seventeenth centuries. Objectivity became a critica component of the new scientific method. The investigator was an
29 observer, rather than a participant in the inquiry process. A mechanistic view of the universe evoved. Experimentation and deduction became the toos of the schoar. 2.2 THE NEED FOR THEORETICAL FRAMEWORK 17 Research Process: Theoretica Framework and Hypothesis Deveopment A theoretica framework is a type of intermediate theory that attempts to connect to a aspects of inquiry (e.g., probem definition, purpose, iterature review, methodoogy, data coection and anaysis). It is used in research to outine possibe courses of action or to present a preferred approach to an idea or thought. A theoretica framework guides the research, determining what things a researcher wi measure, and what statistica reationships he/she wi ook for. Theoretica frameworks are critica in deductive, theory-testing sorts of studies. In those kinds of studies, the theoretica framework must be very specific and we-thought out. Because theoretica frameworks are potentiay so cose to empirica inquiry, they take different forms depending upon the research question or probem. Theoretica frameworks are aso important in exporatory studies, where the researcher reay doesn't know much about what is going on, and is trying to earn more. There are two reasons why theoretica frameworks are important here. First, no matter how itte the researcher thinks he/she knows about a topic, and how unbiased he/she thinks he/she is, it is impossibe for a human being not to have preconceived notions, even if they are of a very genera nature. A researcher is aways being guided by a theoretica framework, but he/she might not know it. Not knowing what his/her rea framework is can be a probem. The framework tends to guide what the researcher notice in an organisation, and what he/she doesn't notice. 2.3 HYPOTHESIS: MEANING A hypothesis is a tentative proposition reating to certain phenomenon, which the researcher wants to verify when required. If the researcher wants to infer something about the tota popuation from which the sampe was taken, statistica methods are used to make inference. We may say that, whie a hypothesis is usefu, it is not aways necessary. Many a time, the researcher is interested in coecting and anaysing the data indicating the main characteristics without a hypothesis. Aso, a hypothesis may be rejected but can never be accepted except tentativey. Further evidence may prove it wrong. It is wrong to concude that since hypothesis was not rejected it can be accepted as vaid. 2.4 HYPOTHESIS DEVELOPMENT In each probem considered, the question of interest is simpified into two competing caims/hypotheses between which we have a choice; the nu hypothesis, denoted H 0, against the aternative hypothesis, denoted H 1. These two competing caims/hypotheses are not however treated on an equa basis: specia consideration is given to the nu hypothesis. We have two common situations: 1. The experiment has been carried out in an attempt to disprove or reject a particuar hypothesis, the nu hypothesis, thus we give that one priority so it cannot be rejected uness the evidence against it is sufficienty strong. For exampe, H 0 : there is no difference in taste between coke and diet coke against H 1 : there is a difference.
30 18 Appied Research Methods in Management 2. If one of the two hypotheses is 'simper' we give it priority so that a more 'compicated' theory is not adopted uness there is sufficient evidence against the simper one. For exampe, it is 'simper' to caim that there is no difference in favour between coke and diet coke than it is to say that there is a difference. The hypotheses are often statements about popuation parameters ike expected vaue and variance; for exampe H 0 might be that the expected vaue of the height of ten year od boys in the Scottish popuation is not different from that of ten year od girs. A hypothesis might aso be a statement about the distributiona form of a characteristic of interest, for exampe that the height of ten year od boys is normay distributed within the Scottish popuation. The outcome of a hypothesis test is "Reject H 0 in favour of H 1 " or "Do not reject H 0 ". Nu Hypothesis: The nu hypothesis, H 0, represents a theory that has been put forward, either because it is beieved to be true or because it is to be used as a basis for argument, but has not been proved. For exampe, in a cinica tria of a new drug, the nu hypothesis might be that the new drug is no better, on average, than the current drug. We woud write: H 0 : There is no difference between the two drugs on average. We give specia consideration to the nu hypothesis. This is due to the fact that the nu hypothesis reates to the statement being tested, whereas the aternative hypothesis reates to the statement to be accepted if/when the nu is rejected. The fina concusion once the test has been carried out is aways given in terms of the nu hypothesis. We either "Reject H 0 in favour of H 1 " or "Do not reject H 0 "; we never concude "Reject H 1 ", or even "Accept H 1 ". If we concude "Do not reject H 0 ", this does not necessariy mean that the nu hypothesis is true, it ony suggests that there is not sufficient evidence against H 0 in favour of H 1. Rejecting the nu hypothesis then, suggests that the aternative hypothesis may be true. Aternative Hypothesis: The aternative hypothesis, H 1, is a statement of what a statistica hypothesis test is set up to estabish. For exampe, in a cinica tria of a new drug, the aternative hypothesis might be that the new drug has a different effect, on average, compared to that of the current drug. We woud write: H 1 : the two drugs have different effects, on average. The aternative hypothesis might aso be that the new drug is better, on average, than the current drug. In this case we woud write: H 1 : the new drug is better than the current drug, on average. The fina concusion once the test has been carried out is aways given in terms of the nu hypothesis. We either "Reject H 0 in favour of H 1 " or "Do not reject H 0 ". We never concude "Reject H 1 ", or even "Accept H 1 ". If we concude "Do not reject H 0 ", this does not necessariy mean that the nu hypothesis is true, it ony suggests that there is not sufficient evidence against H 0 in favour of H 1. Rejecting the nu hypothesis then, suggests that the aternative hypothesis may be true. Simpe Hypothesis: A simpe hypothesis is a hypothesis which specifies the popuation distribution competey.
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