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Introduction to Reserach Methodology

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    Introduction to ResearchMethodology

    Parag Mahulikar

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    Customer

    A Customer is the most important visitor onour premises.He is not dependent on us.We are dependent on him.He is not aninterruption on our work.He is the purposeof it. He is not an outsider on our business.He is the part of it.We are not doing him a

    favour by serving him.He is doing us afavour by giving us an opportunity to do so.---Mahatma Gandhi

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    CONSUMER

    Consumer is not a moron.

    She is your wife.

    David Ogilvy

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    W hat is Business Research?

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    B usiness research is defined asthe systematic and objectiveprocess of generatinginformation for making better business decisions.

    Business Research Defined

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    I t aint the things wedont know that gets us introuble. I ts the things we

    know that aint so.

    A rtemus Ward

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    T ypes of Research

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    B asic research

    A pplied research

    Business Research T ypes

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    Basic Research

    A ttempts to expand the limits of knowledge.

    Not directly involved in the solution to apragmatic problem.

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    Basic Research Example

    Is executive success correlated withhigh need for achievement?

    A re members of highly cohesive work

    groups more satisfied than members of less cohesive work groups?

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    "T he secret of success is to knowsomething nobody else knows. "

    A ristotle Onassis

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    A pplied Research

    C onducted when a decision mustbe made about a specific real-lifeproblem

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    A pplied Research Examples

    S hould McDonalds add Vada-Pav to itsmenu?S hould HUL start hotel chains?S hould P & G increase the price of their shampoos?S hould Glaxo diversify into baby care

    products?S hould J & J launch low-priced babyproducts?

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    Is sufficient timeavailable before

    a managerial

    decisionmust be made?

    Is the infor-mation already

    on hand inadequatefor making

    the decision?

    Is the decisionof considerable

    strategic

    or tactical importance?

    Does the valueof the research

    informationexceed the cost of conducting

    research?

    ConductingBusiness

    Research

    Do Not Conduct Business Research

    Time ConstraintsAvailability of Data

    Nature of the DecisionBenefits vs.

    Costs

    Yes YesYesYes

    No No No No

    Determining W hen to Conduct

    Business Research

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    BUSINESS REVOLVES AR OUND CUNSU ME R

    CONSU ME R

    Logistics

    Production

    Marketing

    Purchase

    Distribution

    After S ales S ervice

    T here are only two functionsIn every organization:1.Innovation2.Marketing

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    Does the Customer Know W hat heW ants?

    He does not know!

    He never knew!!

    He would never know!!!

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    Does the Customer Know W hat heW ants?

    Do not ask customer what he wants. Do not ask him solutions.

    A sk him what does new product do for him?

    C ustomers know only what they have experienced.T hey cant imagine what they do not know: New technologies,Materials etc.T hey suggest things usually other companies offer:

    Me too products or marginally improved products.Example: Kawasaki Jet S ky S tand up recreational water craftC up Holders in A merican cars.

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    Business Research

    Research information is neither intuitivenor haphazardly gathered.

    Literally, research (re-search) -searchagainB usiness research must be objective

    Detached and impersonal rather thanbiasedIt facilitates the managerial decisionprocess for all aspects of a business .

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    Complex Indian Market

    C onsumer goods and Pharma--both themarkets are extremely competitive andcomplex.

    FMC G B rand No.T oilet soaps 250Washing Powder 120

    T oothpaste 100T ea 210Pharmaceuticals 18,000

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    Magic of Seven

    S even days a week.S even swaras in music.S even colours.

    S even rishis (saptarshi).S even generations.S even pheras in marriage.S even reincarnations.S even Gods of Egyptians.S even sacred horses of Persians.S even Gods of happiness & luck of Japanese.

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    Magic of SevenS even sisters for Greeks.Rome was built on seven hills. ( T irupati Devatsanam)S un Gods chariot has seven horses.S even ancient wonders.S even seas.S even continents.S even people are required to form a company-companys A ct.S even habits of highly effective people.S even S amurai- A kio Kurosawa.T he S even Year Itch-Marilyn Monroes 1955 film

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    Changing Customers

    C ustomers are dynamic.We cant fight todays market with

    yesterdays tools.NescafeInstant Jalebi Mix

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    I nformation

    T o manage a business wellIs to manage its future and,T o manage its future,Is to manage information.

    --Marion Harper

    A nd B R / MR helps you to manage information and hence thebusiness.

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    A lvin T offlers A lgorithm

    DATA

    INFORM AT ION

    KNOWLEDGE

    POWER

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    Diagnostics

    B usiness research is a potent technique.

    B usiness research does not guaranteesuccess!

    B usiness research helps take better business

    decisions.

    Res.+Experience+Guts = B etter Decisions

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    THA NK YOU !


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