1 the Role of Business Research

8/19/2019 1 the Role of Business Research

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THE ROLE OF BUSINESSRESEARCH


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Business Research Defned

Business research is defned as thesystematic and o!ecti"e #rocess o$%eneratin% in$ormation $or aid in

ma&in% usiness decisions


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Business research is the systematic and objective

identification

collection

analysis dissemination

and use of information

for the purpose of improving decision making related to the

identification and

solution of problems and opportunities in business.


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Business Research Ty#es

Basic research '(ro)em Identifcation

research*

A##)ied research '(ro)em So)"in%

research*

+e))o%%s


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Basic Research

Attem#ts to e,#and the )imits o$&no-)ed%e.

Not direct)y in"o)"ed in the so)ution to a

#ra%matic #ro)em. E,am#)e/

Is e,ecuti"e success corre)ated -ith hi%h

need $or achie"ement0 Does the sa)e o$ coo) drin&s comes do-n0

Does the cric&et #)ayers are doin% %ood0

Does the in1ation is increasin% due to

ud%et0


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A##)ied Research

Conducted -hen a decision must e madeaout a s#ecifc rea)2)i$e #ro)em

E,am#)es/

Shou)d 3cDona)ds add Ita)ian #asta dinners to itsmenu0

Business research to)d 3cDona)d4s it shou)d not0

Shou)d (rocter 5 6am)e add a hi%h2#riced hometeeth )eachin% &it to its #roduct )ine0

Does the current Indian #)ayers are doin% %ood0

Does the in1ation o$ Iran is increasin% due to itsud%et0


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Scientifc 3ethod

The ana)ysis and inter#retation o$em#irica) e"idence '$acts $romoser"ation or e,#erimentation* to

confrm or dis#ro"e #rior conce#tions


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A C)assifcation o$ Research -ith res#ecti"e to 3ar&etin%

Research

(ro)emIdentifcation Research

(ro)em2So)"in%Research

3ar&et (otentia) Research3ar&et Share Research3ar&et CharacteristicsResearchSa)es Ana)ysis ResearchForecastin% ResearchBusiness Trends Research

Se%mentationResearch

(roduct Research

(ricin% Research

(romotion Research


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Determinin% 7hen to Conduct BusinessResearch

Time constraints

A"ai)ai)ity o$ data

Nature o$ the decision

Benefts "ersus costs


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Determinin% 7hen to Conduct BusinessResearch

Is sufficient timeavailable before

a managerial

decision

must be made?

Is the infor-

mation already on hand

inadequate

for making

the decision?

Is the decisionof considerable

strategic

or tactical

importance?

Does the value

of the research information

exceed the cost

of conducting

research?

ConductingBusiness

Research

Do Not Conduct Business Research

Time Constraints

Availability of

Data Nature of the Decision

Benefits

vs. Costs

Yes YesYesYes

No No No No


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Research Process

Step 1: Defining the Problem

Step 2: Developing an Approach to the Problem

Step 3: Formulating a Research Design

Step 4: Doing Field or! or "ollecting Data

Step #: Preparing and Anal$%ing Data

Step &: Preparing and Presenting the Report


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Step 2: Developing an Approach to the

Problem

Framin% theoretica) $rame-or&

Ana)ytica) mode)s

Research 8uestions

Hy#othesis Needed In$ormation


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Step 3: Formulating a Research Design

't is blueprint for conducting research Definition of information needed

Secondary data analysis

Qualitative research Methods of collection data (survey, observation and

eperimentation!

Measurement and scaling procedures

Questionnaire design

Sampling process and sample si"e

#lan of data analysis


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Step 4: Doing Field or! or "ollecting Data

(ersona) inter"ie- 'in2home9 chattin% inmai)9 s&y#e:"ier*

Te)e#hone

3ai) 'traditiona) mai) or mai) sur"ey*

Secondary data

Can a)so %et data $rom Research su##)ier


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Research Su##)iers 5Ser"ices 'nternal suppliers ()ternal suppliers

Full*service suppliers

S$ndicated services + e. $ollect and sell common pools ofdata "ustomi%ed services + e. Supplies data suits to client%s need 'nternet services & Speciali"e in conducting research online

,imited*service suppliers

Field services + collects data through mail, personal etc., "oding and data entr$ services -echnical and Anal$tical services & Quantitative methods Focus group + depth intervie' (to!, moderators


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Step #: Preparing and Anal$%ing Data

;erifcation o$ data

Editin%


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Characteristics o$ 6ood Research

C)ear)y defned #ur#oseC)ear)y defned #ur#ose

Detai)ed research#rocess

Detai)ed research#rocess

Thorou%h)y #)anneddesi%n

Thorou%h)y #)anneddesi%n

Hi%h ethica) standardsHi%h ethica) standards

Limitations addressedLimitations addressed

Ade8uate ana)ysisAde8uate ana)ysis

Unami%uous#resentation

Unami%uous#resentation

Conc)usions !ustifedConc)usions !ustifed

Credentia)sCredentia)s


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Research Associations On)ine

AA(OR / American Association $or (u)ic O#inion Research'---.aa#or.or%*

A3A / American 3ar&etin% Association '---.ama.or%*

ARF / The Ad"ertisin% Research Foundation

'---.amic.com:ar$* CASRO / The Counci) o$ American Sur"ey Research

Or%ani


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ESO3AR/ Euro#ean Society $or O#inion and3ar&etin% Research '---.esomar.n)*

3RS/ The 3ar&et Research Society 'U+*

'---.mar&etresearch.or%.u&*

3RSA/ The 3ar&et Research Society o$Austra)ia '---.mrsa.com.au*

(3RS/ The (ro$essiona) 3ar&etin%Research Society 'Canada* '---.#mrs2a#rm.com*

1 the Role of Business Research

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