Bangladesh University of Professionals

COURSE TITLE: Business Research Methodology

COURSE CODE: BUS 8508

Assignment 2

Submitted To
Assoc. Prof. Dr Md Arifur Rahman
Faculty of Business Administration
Bangladesh University of professional

Submitted By
(Group-3)
Serial Name ID
1 Rubaiya Rahman 19022025
2 Jannatul Ferdous Akhi 19022027
3 Jewel Ahmed 19022063
4 A.S.M Sayem 19022097
5 Chandrica Banik 19022099

Batch 22 (A)

Date of Submission: 5th March, 2021

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Question 1. In which condition observation method is appropriate?

We use observation method in different ways like directly observed the person directly
involved not involved. Under this method the Researcher collects information directly through
observation rather than through the report of others. It is a process of recording relevant
information without observing anyone specific questions and in some cases even without the
knowledge of the respondents. This method of collection is highly effective in behavioural
survey. Observation is not only a systematic watching but it also involves listening and reading.
It involves three processes they are sensation attention or concentration and perception. The
planned systematic carefully recorded observation continues to be a valuable evaluation
technique. It is one of the best techniques available to the manager for knowing their employees
appreciate their growth and diagnosing their potentiality capabilities. Observation is the
method of examine describing an interpreting the reactions of Individuals inside the company
or outside the company. It is a systematic watching with a view to specific objectives as the
name describes observation method is all about observing the participants or employees. There
is no experiment is conducted in it. The observations are made without disturbing influencing
or altering the environment or the participants in anyway. It is the method of viewing and
recording the actions and behaviours of participants. The focus of observation may involve
changes in the attitude characteristics and behaviour of people being observed. The technique
that could be used may involve watching and recording actions. The different senses are used
in this method of gathering data. This method makes possible the recording of behaviour at the
appropriate time and situation. Observation is made only at the time of occurrence of the
appropriate events. There are few types of observations such as; naturalistic, participant,
laboratory, nonparticipant observation, participant observation, simulation observation,
structured observation structured observation etc. Observational study shows there is
relationships between variables And has no independent variables. It helps to analyse patterns
of relationships between variables. From this study we can find out the objective of observation
is understand how variables are related. And research question would be does variable X cause
variable Y. In any organization this tool would be very effective to understand the human
resource department and their running behaviours would be observed via managers and
subordinates through proper channels. It would be beneficial for company strategy planning as
well.

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Question 2. Suggest some new uses of observational strategy.

Observation
Observation, as the name implies, is a way of collecting data through observing. Observation
data collection method is classified as a participatory study, because the researcher has to
immerse herself in the setting where her respondents are, while taking notes and/or recording.
Observation as a data collection method can be structured or unstructured. In structured or
systematic observation, data collection is conducted using specific variables and according to
a pre-defined schedule. Unstructured observation, on the other hand, is conducted in an open
and free manner in a sense that there would be no pre-determined variables or objectives.

Uses of observational strategy

There are a variety of uses for collecting observational data. Some of these uses include:

1. When the nature of the research question to be answered is focused on answering a how
or what-type question
2. When the topic is relatively unexplored and little is known to explain the behavior of
people in a particular setting
3. When understanding the meaning of a setting in a detailed way is valuable
4. When it is important to study a phenomenon in its natural setting
5. When self-report data (asking people what they do) is likely to be different from actual
behavior (what people actually do). One example of this seen in the difference between
self-reported versus observed preventive service delivery in health care settings.
6. When implementing an intervention in a natural setting, observation may be used in
conjunction with other quantitative data collection techniques. Observational data can
help researchers evaluate the fidelity of an intervention across settings and identify
when 'stasis' has been achieved.

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Question 3. How can you determine the best location for your prospective
store using observation?

Determine the best location for prospective store using observation:

 Type of Goods Sold
 Population and Your Customer
 Accessibility, Visibility, and Traffic
 Signage, Zoning, and Planning
 Competition and Neighbours
 Location Costs
 Personal Factors
 Final Considerations

Where you choose to locate your retail business will have a major impact on your public
presence, walk-in traffic, the potential for future income, and other elements. Choosing a
location that does not account for such factors may limit the business's ability to succeed and
grow.

Before choosing a retail store location, define

 How you see your business now and in the future?
 What are the demographics of your core customers?
 Can you visualize your building?
 Do you know what you want to sell and what you want your business to be known for?
 Have you determined how much retail space, storage area, or the size of the office you
need?
If you do not answer these basic questions, it will be hard to find the perfect location for
generating the maximum amount of profit for your retail store.

 Type of Goods Sold

Examine what kind of products you sell, as some goods will require certain types of locations.
Would your store be considered a convenience store, a specialty shop or a shopping store?
Convenience goods require easy access to let the customer quickly make a purchase. These
products are also of general interest among consumers. A mall might not be a good location
for convenience goods because this product type may be priced on a different scale compared

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with other retailers on the property. Consumers might be inclined to patronize convenience
stores located on the path of their daily commutes. This can mean occupying space situated in
or near a transit hub or along heavily trafficked routes.
Specialty goods fulfil more unique needs than general purpose products. Customers generally
won't mind traveling out of their way to purchase this type of product because they cannot
procure them through convenience or general goods retailers. This type of store may perform
well near other shopping locations because their offerings may complement each other.
A big-ticket shopping store usually sells items at a higher price that are bought infrequently by
the customer. Furniture, cars, and upscale clothing are examples of goods found at a big-ticket
shopping store. Because the prices of these items are higher, this type of customer will want to
compare prices before making a purchase. Retailers in this segment will do well to locate their
stores far away from their rivals.

 Population and Your Customer

When choosing a city or state to locate your retail store, research the area thoroughly before
making a final decision. Read local papers and speak to other small businesses in the area.
Obtain location demographics from the local library, chamber of commerce or the Census
Bureau. Specialty research firms that cater to retailers could also provide demographic
information. Any of these sources should have information on the area's population, income
brackets, and median age. You know who your customers are, so make sure you find a location
near where your customers live, work and shop.

 Accessibility, Visibility, and Traffic

Don't confuse a lot of traffic for a lot of customers. Retailers want to be located where there
are many shoppers but only if those shoppers meet the definition of their target market. Small
retail stores may benefit from the traffic generated by nearby larger stores. There are several
aspects retailers should consider along these lines.
 How many people walk or drive past the location?
 How well is the area served by public transportation?
 Can customers and delivery trucks easily get in and out of the parking lot?
 Is there adequate parking?
Depending on the type of business, it would be wise to have somewhere between 5 to 8 parking
spaces per 1,000 square feet of retail space.1

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When considering visibility, look at the location from the customer's viewpoint. In many cases,
the better visibility your retail store has, the less advertising is needed. A specialty retail store
located six miles out of town in a free-standing building will need more marketing than a
shopping store located in a mall.

 Signage, Zoning, and Planning

Before signing a lease, be sure you understand all the rules, policies and procedures related to
your retail store location. Contact the local city hall and zoning commission for information on
regulations regarding signage. There may be limits on the size and imagery used in signs that
advertise your business. Ask about any restrictions that may affect your retail operation and
any future planning that could change traffic, such as highway construction.

 Competition and Neighbours

Other area businesses in your prospective location can actually help or hurt your retail shop.
Determine if the types of businesses nearby are compatible with your store. For example, a
high-end fashion boutique may not be successful next door to a discount variety store. Position
it next to a nail or hair salon, which tend to draw the same demographic of customers, to more
optimal results.

 Location Costs
Along with the base rent, consider all location-based costs involved when choosing a retail
store location.
 Who pays for lawn care and security?
 Who pays for the upkeep and repair of the heating/air units?
 Will you need to do any painting or remodelling to have the location fit your needs?
 Will the retailer be responsible for property taxes?
The location you can afford now and what you can afford in the future may vary. It is difficult
to create sales projections for a new business. One way to determine how much rent you can
pay is to find out how much sales similar retail businesses generate and how much rent they
pay.

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  Personal Factors
If you plan to work in your store, think about work-life balance issues such as the distance from
the shop to home and other personal considerations. If you spend much of your time traveling to
and from work, the commute may overshadow the benefits of being your own boss. Also, many
restrictions placed on a tenant by a landlord, Management Company, or community can hamper
a retailer's independence.

 Final Considerations
Your retail shop may require additional handling when it comes to choosing a location. Make
a list of any special characteristic of your business that may need to be addressed.
 Will the store require distinct lighting, fixtures or other hardware installed?
 Are restrooms for staff and customers available?
 Is there adequate fire and police protection for the area?
 Is there a sanitation service available?
 Does the building have a canopy that provides shelter if raining?
 Are there (blue laws) restrictions on Sunday sales?

Don't feel rushed into making a decision on where to put your retail store. Take your time and
research the area. If you have to change your schedule and push back the date of the store's
opening, then do so. Waiting to find the perfect store location is better than just settling for the
first place that comes along.

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 References

 https://www.youtube.com/watch?v=6E4HbC2Qvzw
 https://research-methodology.net/research-methods/qualitative-
research/observation/
 http://www.qualres.org/HomeObse-3594.html
 https://www.thebalancesmb.com/choosing-a-retail-store-location-
2890245