unit i introduction to business research

Unit I – Introduction to Business Research

“The secret of success is to know something nobody else knows”. - Aristotle Onassis

• Amway is the leading company using the direct selling concept.

• It has 48 pick up centers where customers can see, touch, feel the products before buying them.

• They also have Local Ordering Centers where products are delivered instead of being picked up.

• To cater to their price-sensitive customers, Amway has developed Indian specific brands and introduced products in multiple pack sizes.

Kellogg’s Problem

Challenges of Kellogg’s

• The Indian people were not used to eating

processed food,

• Price sensitive

• Low priced traditional breakfast available to them.

How Kellogg overcame the challenges?

• By advertising and investing in key brands - products like iron shakti

and calcium shakti were created for iron and calcium fortification

• Kellogg’s products have adapted their products to meet the local

needs

• Lowered prices by localization which reduces import cost

What is Research?

• Re-search

• To Search Again

• Scientific Investigation

• Systematic Investigation

Definitions of Research

“A careful investigation or inquiry specially through search for new facts in any branch of knowledge”.

The Advanced Learner’s Dictionary of Current English

“Defining and redefining problems, formulating

hypothesis or suggested solutions; collecting,

organizing and evaluating data; making

deductions and reaching conclusions; and at

last carefully testing the conclusions to

determine whether they fit the formulating

hypothesis”. - Clifford Woody

Business Research

• Business research is the application of the scientific method

in searching for the truth about business phenomena.

• These activities include

– Defining business opportunities and problems,

– Generating and evaluating alternative courses of action,

– Monitoring employee and organizational performance.

Objectives of Research / Purpose of Research

• To gain familiarity

• To portray accurately the characteristics of a

particular individual

• To determine the frequency

• To test a hypothesis of a causal relationship

Research Type

Research type is a method to discover information

Research Types

Applied Research 

Basic Research

Descriptive Vs. Analytical

Applied Vs. Fundamental

Quantitative Vs. Qualitative

Conceptual Vs. Empirical

Some Other Types Of Research

One-time Research Or Longitudinal Research

Field-setting / Laboratory /Simulation Research

Historical Research

Applied Research

• A form of systematic inquiry involving the

practical application of science.

• It employs empirical methodologies

Basic Research

Basic research also called Pure

Research or Fundamental Research

Types of Basic Research

• 1. Descriptive Research • 2. Analytical Research• 3. Applied Research• 4. Fundamental Research • 5. Quantitative Research• 6. Qualitative Research• 7. Conceptual Research• 8. Empirical Research

Descriptive Research (Ex post facto research)

• Used to obtain information relating to the current status of

the event.

• It describes "What Exists"

• It does not answer questions about how/when/why the

characteristics occurred

Analytical Research

Use facts or information already available

Applied Research