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Rm 1


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Rm 1

  1. 1. Lecture 1 Ms Farha Hassan
  2. 2. <ul><li>Research in simple terms refers to search for knowledge. </li></ul><ul><li>It is a scientific and systematic search for information on a particular topic or issue. </li></ul><ul><li>It is also known as the art of scientific investigation. </li></ul>
  3. 3. <ul><li>According to Redman and Mory (1923), </li></ul><ul><li>Research is a </li></ul><ul><li>“ systematized effort to gain new knowledge”. </li></ul>
  4. 4. <ul><li>To gain familiarity into a phenomenon. { Green marketing} </li></ul><ul><li>To accurately portray the characteristics of a particular individual, group, or a situation. </li></ul><ul><li>To analyse the frequency with which something occurs. {Visit the mall} </li></ul><ul><li>To examine the relationship between two variables .{ Income/ Demand } </li></ul>
  5. 5. <ul><li>Research methods include all those techniques/methods that are adopted for conducting research. </li></ul><ul><li>Research methodology is the way in which research problems are solved systematically. </li></ul><ul><li>It is a science of studying how research is conducted scientifically. </li></ul>
  6. 7. Business research is defined as the systematic and objective process of generating information for help in making business decisions.
  7. 8. <ul><li>Research information is neither intuitive nor haphazardly gathered. </li></ul><ul><li>Literally, research (re-search) -“search again” </li></ul><ul><li>Business research must be objective. </li></ul><ul><li>Detached and impersonal rather than biased. </li></ul><ul><li>It facilitates the managerial decision process for all aspects of a business. </li></ul>
  8. 9. Basic research Applied research
  9. 10. <ul><li>Attempts to expand the limits of knowledge. </li></ul><ul><li>Not directly involved in the solution to a problem. </li></ul>
  10. 11. <ul><li>Is executive success correlated with high need for achievement? </li></ul><ul><li>Are members of highly cohesive work groups more satisfied than members of less cohesive work groups? </li></ul><ul><li>Do consumers experience cognitive dissonance in low-involvement situations? </li></ul>
  11. 12. <ul><li>Conducted when a decision must be made about a specific real-life problem </li></ul>
  12. 13. <ul><li>Should McDonalds add Italian pasta dinners to its menu? </li></ul><ul><li>Business research told McDonald’s it should not? </li></ul><ul><li>Should Procter & Gamble add a high-priced home teeth bleaching kit to its product line? </li></ul><ul><li>Research showed Crest Whitestrips would sell well at a retail price of $44 </li></ul>
  13. 14. <ul><li>Exploratory </li></ul><ul><li>Descriptive </li></ul><ul><li>Causal </li></ul><ul><li>Conceptual </li></ul><ul><li>Empirical </li></ul>
  15. 16. Exploratory Research Descriptive Research Causal Research (Unaware of Problem) (Aware of Problem) (Problem Clearly Defined) “ Our sales are declining and “What kind of people are buying “Will buyers purchase more of we don’t know why.” our product? Who buys our our products in a new package? competitor’s product?” “ Would people be interested “Which of two advertising in our new product idea?” “What features do buyers prefer campaigns is more effective?” in our product?” possible situation
  16. 17. Exploratory Research Secondary data Experience survey Pilot studies
  17. 18. <ul><li>Initial research conducted to clarify and define the nature of a problem </li></ul><ul><li>Does not provide conclusive evidence </li></ul><ul><li>Subsequent research expected </li></ul>
  18. 19. <ul><li>Describes characteristics of a population or phenomenon. </li></ul><ul><li>Some understanding of the nature of the problem. </li></ul>
  19. 20. I keep six honest serving men, (they taught me all I knew), their names are --Rudyard Kipling what, and why, and when, and how, and where and who.”
  20. 21. <ul><li>Men’s fragrance market </li></ul><ul><ul><li>1/3 size of women’s fragrance market </li></ul></ul><ul><ul><li>But growing at a faster pace </li></ul></ul><ul><ul><li>Women buy 80 % of men’s fragrances </li></ul></ul>
  21. 22. <ul><li>Conducted to identify cause and effect relationships </li></ul>
  22. 23. <ul><li>The research related to some abstract idea or theory is known as Conceptual Research. </li></ul><ul><li>Generally, philosophers and thinkers use it for developing new concepts or for reinterpreting the existing ones. </li></ul>
  23. 24. <ul><li>Exclusively relies on the observation or experience. </li></ul><ul><li>It is based, which often comes up with conclusions that can be verified through experiments or observation. </li></ul><ul><li>Also known as experimental type of research, in which it is important to first collect the facts and their sources. </li></ul>
  24. 25. <ul><li>The role of research in several fields of applied economics, whether related to business or </li></ul><ul><li>to the economy has increased in modern times. </li></ul><ul><li>Business and government has focused attention on the use of research in solving operational problems. </li></ul><ul><li>Research is equally important for social scientists in studying social relationships and in </li></ul><ul><li>seeking answers to various social problems. </li></ul>
  25. 26. <ul><li>Research, as an aid to economic policy, has gained added importance, both for government and business. </li></ul><ul><li>Research provides the basis for nearly all government policies in our economic system. </li></ul><ul><li>Decision-making may not be a part of research, but research certainly facilitates the decisions of the policy maker. </li></ul>
  26. 27. <ul><li>What is Research? </li></ul><ul><li>Empirical </li></ul><ul><li>Causal </li></ul><ul><li>Basic </li></ul><ul><li>Applied </li></ul><ul><li>Conceptual </li></ul>
  27. 28. <ul><li>“ Empirical research in India in particular creates so many problems for the researchers”. State the problems that are usually faced by such researchers. </li></ul>