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Chapter 2Chapter 2Basic Concepts and Research Design
Chapter 2 Basic Concepts and Research Design
Learning ObjectivesLearning Objectives1. The role of information in this
emerging knowledge age2. Explain various stages involved in
the research process3. To understand the various research
designs used in marketing research
Chapter 2 Basic Concepts and Research Design
4 Determinants of Research4 Determinants of Research
RESEARCH
Chapter 2 Basic Concepts and Research Design
Information Need in The New Information Need in The New Knowledge EraKnowledge Era
New knowledge empowered customer have started expecting more benefits and better value for their money.She prefers to choose brands on the basis of intangibles like service-delivery and the extent to which it is customized to her lifestyleThe buyer of today is particular of maximizing and weighing the price performance ratio
Chapter 2 Basic Concepts and Research Design
Decision Making and Tracking Decision Making and Tracking TrendsTrends
Managers very often view ‘Research’ as a tool used to providing information in the form of a ‘photo’-mirroring ‘consumers opinion’ and the prevalent market situationThus having access to information will help in the development of an independent and objective way of improving decision making-understanding, keeping track of and monitoring one’s own success, or failures, understanding competitors market value/share and development of new products and communication strategies
Chapter 2 Basic Concepts and Research Design
The Research ProcessThe Research ProcessWhat is the purpose of conducting the research?What are the research objectives?Working out on the cost-benefit worthiness of the research studyWhat should be the type of research design to be adopted?How the data obtained is to be analyzed, interpreted and recommendations given?Chapter 2 Basic Concepts and
Research Design
Steps Involved in The Research Steps Involved in The Research ProcessProcess
Chapter 2 Basic Concepts and Research Design
Bayesian TheoryBayesian TheoryThe Bayesian decision theory tries to answer two questions:
1.How can the manager select from among alternative information gathering choices, including the option of not gathering any additional information at all?
2.After making the choice, what action is to be taken by the manager?
Chapter 2 Basic Concepts and Research Design
HerberHerber SpiegelbugSpiegelbugHerber Spiegelbug has referred to the method of phenomenology as consisting of four steps, recognized by most phenomena lists, to qualify as representative of the approach generally followed◦ Suspend prior conceptions◦ Description of the phenomenon◦ Determine the universal elements◦ Apprehending of relationships
Chapter 2 Basic Concepts and Research Design
Selection of Research Selection of Research MethodologyMethodology
If one is required to answer the question related to the appropriate “method of inquiry”? The answer will be dependent on the nature of the research problem and the availability of existing knowledgeBroadly stated, two research methodologies are used for the purpose of research◦ Experimental Research◦ Non Experimental Research
Chapter 2 Basic Concepts and Research Design
Methods to Evaluate The Value Methods to Evaluate The Value of Informationof Information1. Simple Savings Method (SSM)2. Return On Investment (ROI)3. Present Value Method (PVM)4. Cost Benefit Approach (C-B)5. Bayesian Approach
Chapter 2 Basic Concepts and Research Design
Steps Recognized by Steps Recognized by Phenomena listsPhenomena lists
Phenomenology
Chapter 2 Basic Concepts and Research Design
Selection of the Data Collection Selection of the Data Collection TechniquesTechniques
1. Observation Techniques: under this techniques, data is obtained by
observing present or past behavior. Past behavior observation will be done with the help of secondary data
2. Communication Techniques: communication techniques involve seeking
answers by asking questions. This is sometimes done in the form of a survey research, when questions are asked and answers are received. This communication can be conducted via mail or telephone or sometimes in person Chapter 2 Basic Concepts and
Research Design
Actual Data CollectionActual Data CollectionThe budget availabilityNature of the project and the complexity of the required informationDegree of accuracy desiredTime availability
Chapter 2 Basic Concepts and Research Design
Types of ResearchTypes of ResearchDescriptive designExperimental designquasi-experimental design
Chapter 2 Basic Concepts and Research Design
Descriptive DesignsDescriptive DesignsThese designs are used to establish accurate descriptions of variables relevant to the decision being taken without demonstrating the existence of the relationship between variables.The purpose of this design is to give an accurate picture of some aspect of the marketing environmentSay Titan may want to measure the reaction of young women between 15-25 years of age, to their ‘Fast track’ brand of watches Chapter 2 Basic Concepts and
Research Design
The Various Types of Research The Various Types of Research DesignDesign
Chapter 2 Basic Concepts and Research Design
Experimental DesignsExperimental DesignsThese research designs are used to demonstrate cause effect relationship This means that when it is necessary to show that one variable determines the values of other variables, a experimental approach is usedStudents will undoubtedly be familiar with the concept of experimentation in biological and physical sciencesThere are two types of experimental designs◦ Laboratory experiments◦ Field experimental settingsChapter 2 Basic Concepts and
Research Design
QuasiQuasi--Experimental DesignsExperimental Designs1. One shot-case study2. One-group pre test – post-test design3. Time series design (also known as
Longitudinal Designs)4. Static group comparison design5. Simulation
Chapter 2 Basic Concepts and Research Design
SummarySummaryThe research process consists of a series of steps worked out in a systemic manner from the conception of the project through the conclusions, recommendations and ultimate actionThe research designs can be categorized into Descriptive design, Experimental design and Quaiexperimental designThe variation in the approaches will be with respect to purpose, exactness of the hypothesis formed and the type of data collection methods used
Chapter 2 Basic Concepts and Research Design