unit i introduction to business research
TRANSCRIPT
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