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Lecture 1 - Introduction To Business Research

This document discusses the importance of studying research methods for business decision making. It provides definitions of marketing research and outlines the roles of managers and researchers. Marketing research is classified into problem identification research and problem solving research. Some examples of each type are described, including market potential research, product testing, pricing studies, and distribution analysis. The relationship between managers and researchers is also covered.

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194 views19 pages

Lecture 1 - Introduction To Business Research

This document discusses the importance of studying research methods for business decision making. It provides definitions of marketing research and outlines the roles of managers and researchers. Marketing research is classified into problem identification research and problem solving research. Some examples of each type are described, including market potential research, product testing, pricing studies, and distribution analysis. The relationship between managers and researchers is also covered.

Uploaded by

headandtail
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPT, PDF, TXT or read online on Scribd
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Bus in ess

Res ea r ch
Met ho ds

Fariha Nadir
Lecture 1
St udy Re se arch? Why?

 The study of research methods provides


you with the knowledge and skills you
need to solve the problems and meet the
challenges of a fast paced decision
making environment.
 Manager’s increased need for more and better
information
 Availability of improved techniques and tools to
meet this need
 Resulting information overload if discipline is not
employed in the process
So ?
 More variables to consider in every decision
 More knowledge exists in every field of mngt.
 Competition is more vigorous
 Quality of theories & models to explain results is improving
 Internet usage has increased the quantity of information available
– quality?
 Stakeholders all want to be part of company’s decision making
 Data warehousing & data mining methodologies are improving
 IT has facilitated data analysis
 Lots of new tools to facilitate increasingly complex business
decisions
 Communication & measurement techniques has enhanced
Ap plic atio n o f this
st udy…
 As a decision maker
 As a researcher for another executive
 Buying research from others
 Evaluating the applicability of prior
research for current management
dilemma
 Becoming a research specialist
Re search – a d efin ition

 The American Marketing


Association redefines marketing
research as:
 “Marketing research is the
function that links the consumer,
customer, and public to the
marketer through information –
information used to identify and
define marketing opportunities
and problems; generate, refine
and evaluate marketing actions;
Re search – a d efin ition

 In the context of marketing


research as a tool for providing
information needed for marketing
decisions, marketing research is
defined as:
 “The systematic and objective
identification, collection, analysis,
dissemination, and use of information
for the purpose of assisting
management in decision making
A r ese archer’ s jo b!

 Reporting
 Descriptive
 Explanatory
 Predictive
A g ood rese arc h would
comprise …
 Clearly defined purpose
 Detailed research process
 Thoroughly planned research design
 High ethical standards
 Frankly highlighted limitations
 Adequate analysis for decision maker’s need
 Clear presentation of findings
 Justified conclusions
 Researcher’s experience
Ma nager – Rese archer
Re la tio nsh ip

Manager Researcher
Ma nager – Rese archer
Co ntr ib utio ns

Manager Researcher

 Specify problems
 Adequate background information
 Access to company information gatekeepers
A Cla ssi fic atio n o f
Ma rketing Rese arch
 Marketing Research is classified into
problem identification research and
problem solving research
 Problem identification research is
undertaken to help identify the
problems that are not necessarily
apparent on the surface and yet
exist or are likely to arise in future.
Research of this type provides
information about marketing
Pr oble m Identific atio n
Re search
 Market Potential Research
 A declining market potential indicates
that the firm is likely to have a problem
achieving its growth targets
 A problem exists if the market
potential is increasing but the firm is
losing its market share
 Image Research
 Market Characteristics Research
Pr oble m Identific atio n
Re search
 Sales Analysis Research
 Research performed to analyze certain
surges or plunges in sales, potential
hot or cold locations, etc.
 Forecasting Research
 Research undertaken to make business
forecasts
 Business Trends Research
 Marketing research that identifies
trends in business. Example is IBM’s
Pr oble m Solvin g
Re search
 Segmentation Research
 Determine basis of segmentation
 Establish market potential and
responsiveness for various segments
 Select target markets and create
lifestyle profiles, demography, media,
and product image characteristics
Pr oble m Solvin g
Re search
 Product Research
 Test concept
 Optimal product
design
 Package tests
 Product modification
 Brand positioning
and repositioning
 Test marketing
 Control store tests
Pr oble m Solvin g
Re search
 Pricing Research
 Importance of price in
brand selection
 Pricing policies
 Product line pricing
 Price elasticity of demand
 Response to price changes
Pr oble m Solvin g
Re search
 Promotional Research
 Optimal promotional budget
 Sales promotion relationship
 Optimal promotional mix
 Copy decisions
 Media decisions
 Creative advertising testing
 Claim substantiation
 Evaluation of advertising
Pr oble m Solvin g
Re search
 Distribution Research
 Types of distribution
 Attitudes of channel members
 Intensity of wholesale and
retail coverage
 Channel margins
 Location of retail and
wholesale outlets
Ma nager – Rese archer
Co nflic t
 Managers do not have formal training in
research methodology or research
expertise
 Manager depends on the researcher

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