The document discusses key concepts in business research including:
- The importance of properly interpreting consumer research, as Coca Cola's launch of New Coke in 1985 showed when they failed to consider consumers' brand loyalty.
- Business research is stimulated by factors like the internet, stakeholders, competition, and government intervention to help companies make complex decisions.
- Research involves determining, acquiring, analyzing, and disseminating relevant data and insights to inform decision making and maximize business performance. Proper hypothesis formulation and testing is important to guide research.
The document provides an overview of business research methods. It defines business research and outlines its importance. The key phases of the research process are identified as problem definition, developing an approach, research design formulation, data collection, data analysis, and reporting. Different types of research are described such as descriptive, analytical, applied, and fundamental research. Variables are defined including dependent, independent, and intervening variables. The overall summary is that the document covers fundamental concepts in business research methods including definitions, process, types of research, and variables.
Marketing research has evolved to become global, real-time, specialized, and integrated with marketing. IBM conducts international tracking studies to understand trends in mainframe computing. Recipo allows clients to view customer feedback in real-time. Portico specializes in observational research through video recordings. P&G created a website to target teens and improves products based on feedback. Marketing research involves problem identification, definition, and solving through exploratory and descriptive methods like surveys. It follows a process from problem definition to report preparation.
Qualitative research methodologies differ from quantitative in several key ways. Qualitative research aims to understand phenomena through interpretation rather than description or explanation. It utilizes several data collection techniques including interviews, focus groups, observation, and case studies. Sample sizes are typically small and non-probability based. The researcher has a high degree of involvement through methods like participant observation. Analysis focuses on themes rather than counts. The goal is theory building rather than theory testing.
This chapter discusses the research process and provides an overview of its key stages. The research process begins with clarifying the research question in response to a management dilemma. Researchers then propose the research by outlining the budget, methods, timing and other details. Next, they design the research by determining the project, sampling, and pilot testing. Data is then collected and analyzed before reporting the results, which includes an executive summary and conclusions. Some problems to avoid include overreliance on a company's existing database and favored techniques.
The document discusses research design and its key descriptors. It covers the basic stages of research design including the degree of question crystallization, data collection methods, time dimensions, topical scope, research environment, and purpose of the study. It also examines exploratory studies, descriptive studies, causal studies, and participants' perceptional awareness. The overall research design provides a blueprint or framework to guide the research process and help evaluate relationships between variables.
Procurement analytics enabling journey to value zzw03395 usenNick Triantafel
This document discusses how procurement organizations can leverage data analytics to drive transformation even without robust systems or clean data. It outlines a three step process for "innovative data leveraging" (IDL) that involves: 1) Understanding business challenges, 2) Developing hypotheses by asking the right questions, and 3) Creating data to address questions, even using proxy or external data. IDL allows procurement to engage stakeholders and provide insights that build their credibility and value. The document provides examples of organizations that have successfully used IDL at different stages of procurement maturity.
Why Predictive Analytics Should Be Part of Your 2015 Strategy FinalJoe Brandenburg
This document discusses how predictive analytics should be part of business intelligence strategies in 2015. It begins with an introduction of the speaker, Joe Brandenburg, and his experience with predictive analytics. The rest of the document discusses what predictive analytics is, why it is important for companies to stay competitive, how it can help decision makers improve business decisions, how organizations can incorporate it into their BI strategies to reduce costs, how technologies make implementation easier, and real-world examples of significant ROI from predictive analytics.
The document discusses clarifying a research question through exploratory research using secondary data sources. It covers exploring a management dilemma, conducting literature searches to expand understanding and identify relevant information and questions. Evaluating secondary sources involves factors like authority, format, audience and purpose. Exploratory research helps refine the research question and formulate investigative and measurement questions to determine necessary evidence and scope of study.
The document provides an overview of business research methods. It defines business research and outlines its importance. The key phases of the research process are identified as problem definition, developing an approach, research design formulation, data collection, data analysis, and reporting. Different types of research are described such as descriptive, analytical, applied, and fundamental research. Variables are defined including dependent, independent, and intervening variables. The overall summary is that the document covers fundamental concepts in business research methods including definitions, process, types of research, and variables.
Marketing research has evolved to become global, real-time, specialized, and integrated with marketing. IBM conducts international tracking studies to understand trends in mainframe computing. Recipo allows clients to view customer feedback in real-time. Portico specializes in observational research through video recordings. P&G created a website to target teens and improves products based on feedback. Marketing research involves problem identification, definition, and solving through exploratory and descriptive methods like surveys. It follows a process from problem definition to report preparation.
Qualitative research methodologies differ from quantitative in several key ways. Qualitative research aims to understand phenomena through interpretation rather than description or explanation. It utilizes several data collection techniques including interviews, focus groups, observation, and case studies. Sample sizes are typically small and non-probability based. The researcher has a high degree of involvement through methods like participant observation. Analysis focuses on themes rather than counts. The goal is theory building rather than theory testing.
This chapter discusses the research process and provides an overview of its key stages. The research process begins with clarifying the research question in response to a management dilemma. Researchers then propose the research by outlining the budget, methods, timing and other details. Next, they design the research by determining the project, sampling, and pilot testing. Data is then collected and analyzed before reporting the results, which includes an executive summary and conclusions. Some problems to avoid include overreliance on a company's existing database and favored techniques.
The document discusses research design and its key descriptors. It covers the basic stages of research design including the degree of question crystallization, data collection methods, time dimensions, topical scope, research environment, and purpose of the study. It also examines exploratory studies, descriptive studies, causal studies, and participants' perceptional awareness. The overall research design provides a blueprint or framework to guide the research process and help evaluate relationships between variables.
Procurement analytics enabling journey to value zzw03395 usenNick Triantafel
This document discusses how procurement organizations can leverage data analytics to drive transformation even without robust systems or clean data. It outlines a three step process for "innovative data leveraging" (IDL) that involves: 1) Understanding business challenges, 2) Developing hypotheses by asking the right questions, and 3) Creating data to address questions, even using proxy or external data. IDL allows procurement to engage stakeholders and provide insights that build their credibility and value. The document provides examples of organizations that have successfully used IDL at different stages of procurement maturity.
Why Predictive Analytics Should Be Part of Your 2015 Strategy FinalJoe Brandenburg
This document discusses how predictive analytics should be part of business intelligence strategies in 2015. It begins with an introduction of the speaker, Joe Brandenburg, and his experience with predictive analytics. The rest of the document discusses what predictive analytics is, why it is important for companies to stay competitive, how it can help decision makers improve business decisions, how organizations can incorporate it into their BI strategies to reduce costs, how technologies make implementation easier, and real-world examples of significant ROI from predictive analytics.
The document discusses clarifying a research question through exploratory research using secondary data sources. It covers exploring a management dilemma, conducting literature searches to expand understanding and identify relevant information and questions. Evaluating secondary sources involves factors like authority, format, audience and purpose. Exploratory research helps refine the research question and formulate investigative and measurement questions to determine necessary evidence and scope of study.
This document provides an overview of frameworks and factors to consider when analyzing a company. It discusses why companies and individuals perform company analysis, as well as hygiene factors to examine like products/services and financials. Deeper analysis frameworks are also covered, including industry analysis, value chain analysis, SWOT analysis, and VRIN/VRIO analysis to identify competitive advantages. The document uses examples to illustrate how to apply these analytical frameworks.
The panelists discussed challenges with analyzing trade promotion data from multiple sources and integrating that data to generate insights. Typical issues include data quality problems, different data definitions and formats between systems, and a lack of integration. Moving along the data and analytics continuum from descriptive to predictive to prescriptive analytics can help organizations overcome these challenges and improve collaboration both internally and with trading partners. This allows data to provide visibility into retail execution and drive prioritization of issues.
By reducing your net working capital, you release funds for investments and new growth opportunities. Beyond these effects, by reducing net working capital you also improve logistics processes, profitability and increase your stakeholders’ enterprise value.
Marketing analytics
PREDICTIVE ANALYTICS AND DATA SCIENCECONFERENCE (MAY 27-28)
Surat Teerakapibal, Ph.D.
Lecturer, Department of Marketing
Program Director, Doctor of Philosophy Program in Business Administration
Take your survey data to the next level. You've collected robust information about the perceptions of your customers/market, but now what? Understanding the relationships that exist between your survey data and business data will help you take action on the things that can most positively influence your company’s overall performance
Growth and growth intentions - a meta-analysis of existing evidence - Jonatha...enterpriseresearchcentre
This white paper summarizes the findings of a meta-analysis on the relationship between entrepreneurial growth intentions and realized firm growth. The meta-analysis finds a small to medium positive relationship between growth intentions and future sales growth, and a medium positive relationship with employment growth. Additionally, the paper reviews factors that influence individual and country-level growth intentions, such as regulatory burden, wealth motives for starting businesses, and independence motives. It concludes with recommendations for further research on longitudinal studies of UK entrepreneurs and multi-level analyses of individual, firm, peer, and country characteristics that impact growth intentions.
The document discusses sourcing strategies for recruitment and hiring. It defines sourcing as an organization's ability to use effective recruitment approaches to fill vacant positions. A sourcing strategy is needed to determine the best methods for different types of roles based on skills required, position needs, and available resources. The strategy should include both internal and external recruitment methods with a focus on targeted recruitment. An effective sourcing strategy drives down candidate interviews while ensuring a proper fit between the candidate and company requirements.
The document provides an introduction and overview of business research concepts, resources, and processes for staff training at the LI KA SHING library. It outlines the objectives of business research, roles of research professionals, and common question types. It also details various information resources for business research, including journals, books, reports, databases, directories, and news/media sources. Key points of emphasis are evaluating business questions and matching them to appropriate information resources and sources.
Innovative Data Leveraging for Procurement AnalyticsTejari
This webinar will explore the types of problems and questions faced by procurement executives that can benefit most through the application of analytical solutions (e.g. innovation, strategic cost management, risk mitigation, etc.). In addition, we will cover the different forms of cognitive solutions that are emerging to drive real-time decision-making and predictive sourcing capabilities.
Competitive Intelligence for Market Researchers: an Exercise-Driven, Interact...Arik Johnson
Introduction to Competitive Intelligence Principles Workshop, Designed for a Market Research Audience and Delivered at the 2006 Institute for International Research (IIR) Market Research Event in Los Angeles, California October 22
How Big Data and Predictive Analytics are Transforming the World of Accountin...Swenson Advisors, LLP
The age of the millennials is upon us: Google, Instagram, Snapchat, social media, competency based education (CBE) are changing the world we live in. Big Data, its “analytical off spring,” will significantly change the role and skill set of auditors and accountants in less than a decade.
The document summarizes a webcast presented by ZS Associates on their Explorer Study regarding the impact of sales force effectiveness initiatives. It discusses the methodology of the study, which included data from over 80 sources. A key finding is that broad SFE programs can deliver 9-23% incremental growth in revenue-related metrics in one year, while single initiatives typically result in 4-8% growth. Implementing initiatives successfully requires focusing on the right customer coverage, sales interactions, sales team performance, and sales operations.
This webinar, presented by David Pastore (Director of IT Sourcing at Source One) and Jim Cantell (Director of Channel Programs at Liaison Technologies), will outline key steps that your procurement and IT departments can use right now to improve communications and increase internal value.
Managing Supplier Performance with Advanced AnalyticsDan Traub
2017 NAEP Annual Meeting presentation by Dan Traub of FinVantage Solutions LLC and Judy Smith of HHMI. Reno, NV.
The Howard Hughes Medical Institute has implemented an innovative program based on advanced analytics which is elevating their strategic supplier management efforts. Utilizing data from multiple sources, including the latest Consumer Pricing Index, HHMI created a supplier scorecard which presents metrics on spend channels, top customers, order trends, freight percentage, and more. An in-depth pricing analysis measures pricing variation and computes a market basket for comparison to the CPI. Suppliers also receive a view into their relative market share with competitors. Attendees will learn the techniques involved and hear anecdotes of suppliers’ reactions to the new program.
This document discusses Enterprise Performance Management (EPM) analytics and was presented by Gary Cokins. It provides an agenda that covers what EPM is, what business analytics is, eight pressures that have increased interest in EPM, and how EPM can act as a value multiplier through integration. Some of the pressures discussed include executives' frustration with strategy failure, increased accountability, and the need for more rapid decision making. The presentation argues that EPM and business analytics can help address these pressures by providing insights, solving problems, and enabling better and quicker decisions.
The document discusses several key accounting issues in hotels that impact profitability. It summarizes several studies that examined why some similarly situated hotels are more profitable than others. The studies found that the more profitable hotels generated 46% higher profits through a combination of 5% higher revenues and 7.3% lower costs. Superior performance was attributed to factors like better operating efficiency, marketing, product specifications, and service delivery. Understanding cost behavior and using techniques like customer profitability analysis can help hotel managers make more informed decisions to improve profits.
Acquiring capacity for understanding key business activities in the environments and developing appropriate action points for business and organisational excellence.
Research is defined as a systematic investigation designed to develop or contribute to generalizable knowledge. It involves carefully defining problems, formulating hypotheses, collecting and organizing data, making deductions, reaching conclusions, and testing conclusions. The main objectives of research are to gain familiarity with phenomena, accurately portray characteristics, determine frequencies of occurrences, and test hypotheses of causal relationships between variables. In conclusion, research is a systematic and logical process that follows specified steps in a specified sequence according to a set of rules.
The document defines research as a systematic process of investigation to establish new facts or verify existing knowledge through careful data collection and analysis. Business research specifically aims to provide information to guide managerial decisions by systematically acquiring, analyzing, and disseminating relevant data. The role of business research has increased in importance due to factors like global competition, advances in technology, and the need for data-driven decision making in complex business environments.
This document provides an overview of frameworks and factors to consider when analyzing a company. It discusses why companies and individuals perform company analysis, as well as hygiene factors to examine like products/services and financials. Deeper analysis frameworks are also covered, including industry analysis, value chain analysis, SWOT analysis, and VRIN/VRIO analysis to identify competitive advantages. The document uses examples to illustrate how to apply these analytical frameworks.
The panelists discussed challenges with analyzing trade promotion data from multiple sources and integrating that data to generate insights. Typical issues include data quality problems, different data definitions and formats between systems, and a lack of integration. Moving along the data and analytics continuum from descriptive to predictive to prescriptive analytics can help organizations overcome these challenges and improve collaboration both internally and with trading partners. This allows data to provide visibility into retail execution and drive prioritization of issues.
By reducing your net working capital, you release funds for investments and new growth opportunities. Beyond these effects, by reducing net working capital you also improve logistics processes, profitability and increase your stakeholders’ enterprise value.
Marketing analytics
PREDICTIVE ANALYTICS AND DATA SCIENCECONFERENCE (MAY 27-28)
Surat Teerakapibal, Ph.D.
Lecturer, Department of Marketing
Program Director, Doctor of Philosophy Program in Business Administration
Take your survey data to the next level. You've collected robust information about the perceptions of your customers/market, but now what? Understanding the relationships that exist between your survey data and business data will help you take action on the things that can most positively influence your company’s overall performance
Growth and growth intentions - a meta-analysis of existing evidence - Jonatha...enterpriseresearchcentre
This white paper summarizes the findings of a meta-analysis on the relationship between entrepreneurial growth intentions and realized firm growth. The meta-analysis finds a small to medium positive relationship between growth intentions and future sales growth, and a medium positive relationship with employment growth. Additionally, the paper reviews factors that influence individual and country-level growth intentions, such as regulatory burden, wealth motives for starting businesses, and independence motives. It concludes with recommendations for further research on longitudinal studies of UK entrepreneurs and multi-level analyses of individual, firm, peer, and country characteristics that impact growth intentions.
The document discusses sourcing strategies for recruitment and hiring. It defines sourcing as an organization's ability to use effective recruitment approaches to fill vacant positions. A sourcing strategy is needed to determine the best methods for different types of roles based on skills required, position needs, and available resources. The strategy should include both internal and external recruitment methods with a focus on targeted recruitment. An effective sourcing strategy drives down candidate interviews while ensuring a proper fit between the candidate and company requirements.
The document provides an introduction and overview of business research concepts, resources, and processes for staff training at the LI KA SHING library. It outlines the objectives of business research, roles of research professionals, and common question types. It also details various information resources for business research, including journals, books, reports, databases, directories, and news/media sources. Key points of emphasis are evaluating business questions and matching them to appropriate information resources and sources.
Innovative Data Leveraging for Procurement AnalyticsTejari
This webinar will explore the types of problems and questions faced by procurement executives that can benefit most through the application of analytical solutions (e.g. innovation, strategic cost management, risk mitigation, etc.). In addition, we will cover the different forms of cognitive solutions that are emerging to drive real-time decision-making and predictive sourcing capabilities.
Competitive Intelligence for Market Researchers: an Exercise-Driven, Interact...Arik Johnson
Introduction to Competitive Intelligence Principles Workshop, Designed for a Market Research Audience and Delivered at the 2006 Institute for International Research (IIR) Market Research Event in Los Angeles, California October 22
How Big Data and Predictive Analytics are Transforming the World of Accountin...Swenson Advisors, LLP
The age of the millennials is upon us: Google, Instagram, Snapchat, social media, competency based education (CBE) are changing the world we live in. Big Data, its “analytical off spring,” will significantly change the role and skill set of auditors and accountants in less than a decade.
The document summarizes a webcast presented by ZS Associates on their Explorer Study regarding the impact of sales force effectiveness initiatives. It discusses the methodology of the study, which included data from over 80 sources. A key finding is that broad SFE programs can deliver 9-23% incremental growth in revenue-related metrics in one year, while single initiatives typically result in 4-8% growth. Implementing initiatives successfully requires focusing on the right customer coverage, sales interactions, sales team performance, and sales operations.
This webinar, presented by David Pastore (Director of IT Sourcing at Source One) and Jim Cantell (Director of Channel Programs at Liaison Technologies), will outline key steps that your procurement and IT departments can use right now to improve communications and increase internal value.
Managing Supplier Performance with Advanced AnalyticsDan Traub
2017 NAEP Annual Meeting presentation by Dan Traub of FinVantage Solutions LLC and Judy Smith of HHMI. Reno, NV.
The Howard Hughes Medical Institute has implemented an innovative program based on advanced analytics which is elevating their strategic supplier management efforts. Utilizing data from multiple sources, including the latest Consumer Pricing Index, HHMI created a supplier scorecard which presents metrics on spend channels, top customers, order trends, freight percentage, and more. An in-depth pricing analysis measures pricing variation and computes a market basket for comparison to the CPI. Suppliers also receive a view into their relative market share with competitors. Attendees will learn the techniques involved and hear anecdotes of suppliers’ reactions to the new program.
This document discusses Enterprise Performance Management (EPM) analytics and was presented by Gary Cokins. It provides an agenda that covers what EPM is, what business analytics is, eight pressures that have increased interest in EPM, and how EPM can act as a value multiplier through integration. Some of the pressures discussed include executives' frustration with strategy failure, increased accountability, and the need for more rapid decision making. The presentation argues that EPM and business analytics can help address these pressures by providing insights, solving problems, and enabling better and quicker decisions.
The document discusses several key accounting issues in hotels that impact profitability. It summarizes several studies that examined why some similarly situated hotels are more profitable than others. The studies found that the more profitable hotels generated 46% higher profits through a combination of 5% higher revenues and 7.3% lower costs. Superior performance was attributed to factors like better operating efficiency, marketing, product specifications, and service delivery. Understanding cost behavior and using techniques like customer profitability analysis can help hotel managers make more informed decisions to improve profits.
Acquiring capacity for understanding key business activities in the environments and developing appropriate action points for business and organisational excellence.
Research is defined as a systematic investigation designed to develop or contribute to generalizable knowledge. It involves carefully defining problems, formulating hypotheses, collecting and organizing data, making deductions, reaching conclusions, and testing conclusions. The main objectives of research are to gain familiarity with phenomena, accurately portray characteristics, determine frequencies of occurrences, and test hypotheses of causal relationships between variables. In conclusion, research is a systematic and logical process that follows specified steps in a specified sequence according to a set of rules.
The document defines research as a systematic process of investigation to establish new facts or verify existing knowledge through careful data collection and analysis. Business research specifically aims to provide information to guide managerial decisions by systematically acquiring, analyzing, and disseminating relevant data. The role of business research has increased in importance due to factors like global competition, advances in technology, and the need for data-driven decision making in complex business environments.
The document outlines the key steps in the research process:
1) Establish the need for research and define the problem.
2) Conduct an extensive literature review to understand previous work.
3) Formulate clear research objectives and questions.
4) Determine an appropriate research design including data collection methods.
5) Collect, analyze, and interpret the data to draw conclusions and answer the research questions.
This document outlines the characteristics and criteria of good research. It defines research as the systematic process of collecting and analyzing data to increase understanding. Good research is guided by a question or problem, has a clear goal and plan, and divides main problems into subproblems. It relies on collecting and interpreting data in a cyclical process. Good research clearly defines its scope, explains its process so others can reproduce it, and has a planned, objective design with ethical standards and justified conclusions. The research process involves raising a question, suggesting hypotheses, reviewing literature, acquiring data, analyzing and interpreting data, and determining if hypotheses are supported.
The document discusses research methodology and defines research. It provides examples of what constitutes research and what does not. Research is defined as a systematic, logical process that includes understanding the problem, reviewing literature, collecting and analyzing data, drawing conclusions, and generalizing findings. The document also discusses types of research questions, purposes of research, and common challenges in conducting research.
This document provides an overview of ethics in research. It defines ethics and discusses key historical events that shaped modern research ethics like the Nazi experiments and the Nuremberg Code. The three primary ethical principles of beneficence, respect for human dignity, and justice are examined. Informed consent, risks/benefits analysis, and the role of institutional review boards in ensuring ethical research are covered. Challenges in vulnerable populations and qualitative/mixed methods research are also summarized.
The document discusses ethics in research and publication, outlining researchers' ethical responsibilities, approaches to ethical decision making, guidelines like the Belmont Report and APA Ethics Code, and considerations like informed consent, minimizing risks to participants, ensuring confidentiality, and the review processes of Institutional Review Boards and Institutional Animal Care and Use Committees. It also examines issues like scientific misconduct, ethical challenges in animal research, and case studies like Milgram's obedience experiment.
The 7 step research process includes: 1) defining the research problem, 2) reviewing relevant literature, 3) formulating testable hypotheses, 4) designing the research methodology, 5) collecting primary data through methods like surveys and interviews, 6) analyzing the collected data, and 7) interpreting the findings and reporting the results. The overall goal is to gather information to initiate, modify, or terminate investments or projects through a systematic process of exploring an issue, collecting evidence, and drawing conclusions.
This document provides an overview of key concepts in research methodology, including:
1. It defines research as an organized and systematic process of finding answers to questions through a defined set of steps and procedures.
2. It discusses different types of research including quantitative, qualitative, basic, applied, longitudinal, descriptive, classification, comparative, exploratory, explanatory, causal, theory testing, and theory building research.
3. It also discusses alternatives to research-based knowledge such as relying on authority, tradition, common sense, media, and personal experience.
The document discusses various aspects of business research methods. It defines business research as the systematic and objective process of generating information to aid in making business decisions. Some key points include:
- Business research involves acquiring information and knowledge for professional or commercial purposes such as determining opportunities and goals for a business.
- It must be conducted in an objective manner and be detached from bias.
- There are different types of research including descriptive, analytical, applied, fundamental, quantitative, qualitative, conceptual, and empirical.
- The business research process involves formulating the problem, conducting a literature review, developing hypotheses, designing the study, collecting and analyzing data, testing hypotheses, and reporting conclusions.
This document discusses the key steps in defining a marketing research problem and conducting the research process. It outlines identifying the problem, stating research objectives, determining if the information already exists and if the question can be answered. It also covers translating the management problem into a research problem, understanding the decision environment, using symptoms to clarify the problem, and recognizing opportunities. The document then discusses the research design, data collection methods, data analysis, reporting results, and following up on the research. Finally, it briefly touches on managing the research process through a research request and request for proposal.
Market research is a widely used terminology, having importance in each and every sector. From advertising to product launch, from research to vendor development, from recruitment to expansion in different geographical territory.
This presentation highlights about market research the concept and also about its drawbacks like limitations and requirement of time.
Marketing research involves systematically collecting, recording, and analyzing data to solve marketing problems. It has two main components - marketing and research. Marketing refers to creating value for customers, while research refers to a scientific study of a problem. There are three main steps to the marketing research process: 1) defining the problem, 2) designing the research, and 3) collecting and analyzing data. Problem definition involves understanding the client's needs, environment, and objectives. Research design specifies the methodology, including what data is needed and how it will be collected and analyzed. Overall, marketing research links customers and markets to organizations through insights gleaned from a systematic process.
This document discusses corporate strategy and strategic management. It begins by defining strategy as a company's plan to attract customers, position itself in the market, compete successfully, and achieve objectives. A strategy must evolve in response to competitors, customers, technology, and market conditions. The document then discusses strategic vision, mission statements, core competencies, competitive advantage, and strategic analysis including PEST and Porter's Five Forces frameworks. It emphasizes that strategic management involves developing a strategic vision, analyzing the internal and external environment, and executing the strategy.
Unit 2 types of Marketing Research notes.pdfKrishJaiswal23
The document discusses different types of marketing research including consumer research, sales research, product research, and advertising research. It focuses on consumer research, explaining that the goals are to understand customer psychology, purchasing behaviors, and needs in order to create more customer-centric products and services. The consumer research process involves developing objectives, collecting secondary data, conducting primary research such as surveys, analyzing the data, and preparing a report of findings to inform business decisions. Sales research also aims to provide sales intelligence by researching the right prospects and preparing salespeople for meetings.
The document provides an overview of consumer behaviour and consumer research. It defines consumer behaviour as the study of how individuals make decisions to spend resources on consumption-related items. Consumer research involves systematically gathering and analyzing data to understand consumer thoughts, feelings, and behaviors. There are various types of consumer research methods, including surveys, experiments, focus groups, and in-depth interviews. Understanding consumer behaviour helps marketers make better strategic decisions and predict how consumers will react to marketing cues.
This document provides an overview of business research. It defines business research as the systematic and objective process of generating information to aid business decisions. There are two main types: basic research aims to expand knowledge without solving a specific problem, while applied research addresses real-life business problems. The value of research must exceed its costs by decreasing uncertainty and improving decisions. Globalization and new technologies like the internet are transforming business research.
DEFINING THE MARKETING RESEARCH PROBLEM AND DEVELOPING AN APPROACHShashank Kapoor
This document provides an overview of Delphi Research Services Pvt Ltd, a market research and strategic consulting firm based in India. It discusses Delphi's areas of specialization in industrial, business-to-business, social and development research, and specialized consumer research for the services sector. It notes Delphi was established in 1991 and has expertise in research for Indian and international clients. It also briefly outlines Delphi's infrastructure, headquartered in Bangalore with field offices in other major cities, and lists some of its major clients across various industries.
This document provides an overview of business research methodology and ethics. It discusses why business research is important, how it helps guide business decisions and reduce risk. It also covers the research process, characteristics of good research, who conducts research like business firms, trade associations and communication agencies. Finally, it outlines important ethics considerations around informed consent, privacy, deception and codes of conduct. The goal is to ensure research is designed to do no harm and obtain voluntary participation through full disclosure of the research process.
Presentation looking how the issues of reputation, reporting and communications in corporate sustainability. It focuses on drivers, practices, outcomes and emerging issues for large companies around the world.
This document discusses marketing research and its importance for businesses. It defines marketing research as the systematic process of identifying, collecting, analyzing, and disseminating information to understand customer needs and the marketplace. Marketing research is necessary for businesses to effectively undertake marketing activities, adapt to changes in technology, consumer tastes, market demand, and more. The document outlines different types of marketing research like problem identification, problem-solving, market share, sales analysis, business trends, segmentation, product, pricing, promotion and distribution research. It also discusses primary and secondary research, market segments, customer profiling, knowing competitors, and provides examples of career roles in marketing research.
The document discusses building and promoting a business case. It defines a business case as a written report or presentation that justifies a business initiative or project by showing it is financially sound and will address a business problem. It covers understanding business case basics like when they are needed and how they are approved, building a case by defining the problem, solution options and costs/benefits, and promoting a case to get approval. Best practices include considering long-term impacts, risks, qualitative factors and stakeholder engagement. A business case should address whether the proposal is strategically fit, optimizes value, is commercially viable, affordable and can be successfully delivered.
Denise Patrick recently spoke at the Kluge Offshore Summit 2014 about the various concerns and solutions of expanding your energy business into the U.S. Gulf of Mexico.
5 ways innovative brands leverage social data insights (1)Cision
The social intelligence space is evolving rapidly. Will you stay ahead of your competitors and industry trends? Learn the intelligent approach communicators take to harness the power of social data to inform business strategy. Members of the Visible Technologies team show how to beat competitors with the latest social intelligence trends, reduce research spend, and move beyond standard social metrics.
Mountain Man Brewing Company is facing challenges as light beer sales increase and premium beer sales decrease. Their Mountain Man Light brand has higher costs but lower prices than their flagship Mountain Man Lager brand. The company must decide whether to invest in growing Mountain Man Light through advertising or risk cannibalizing sales of their core Mountain Man Lager brand.
This document discusses insights into data-driven human resource analytics. It covers typical data sources like HRIS, LMS, surveys and operational data. It also discusses common questions from surveys like engagement and satisfaction. Challenges with data are explored such as data quality issues, difficulties obtaining data when it is sensitive or owned by other divisions, and stakeholders resisting sharing data if they doubt the results. The foundations of data-driven HR are also summarized as ensuring sufficient data quality, governance, analytical capabilities, and a data-driven culture.
International marketing research is important for making informed international marketing decisions. It involves systematically gathering, analyzing and communicating data across cultural boundaries. There are several challenges to international marketing research, including accurately defining problems, obtaining reliable primary or secondary data, overcoming language and cultural barriers, and analyzing and interpreting data collected in different cultural contexts. Market segmentation is also complex in international markets, as segments may transcend national boundaries. Researchers must consider factors like development stages, demographics, psychographics and benefits sought when segmenting foreign markets.
Business research can involve both applied research aimed at solving specific problems, as well as basic research to generate general knowledge. Applied research directly investigates issues facing managers in areas like accounting, finance, management and marketing. Basic research conducted by academics explores broader topics to understand business phenomena. Both applied and basic research follow a systematic process of inquiry and data collection to increase knowledge and resolve problems. Ethics must also be considered to ensure research is conducted responsibly.
Expanding Access to Affordable At-Home EV Charging by Vanessa WarheitForth
Vanessa Warheit, Co-Founder of EV Charging for All, gave this presentation at the Forth Addressing The Challenges of Charging at Multi-Family Housing webinar on June 11, 2024.
Ever been troubled by the blinking sign and didn’t know what to do?
Here’s a handy guide to dashboard symbols so that you’ll never be confused again!
Save them for later and save the trouble!
EV Charging at MFH Properties by Whitaker JamiesonForth
Whitaker Jamieson, Senior Specialist at Forth, gave this presentation at the Forth Addressing The Challenges of Charging at Multi-Family Housing webinar on June 11, 2024.
What Could Be Behind Your Mercedes Sprinter's Power Loss on Uphill RoadsSprinter Gurus
Unlock the secrets behind your Mercedes Sprinter's uphill power loss with our comprehensive presentation. From fuel filter blockages to turbocharger troubles, we uncover the culprits and empower you to reclaim your vehicle's peak performance. Conquer every ascent with confidence and ensure a thrilling journey every time.
Implementing ELDs or Electronic Logging Devices is slowly but surely becoming the norm in fleet management. Why? Well, integrating ELDs and associated connected vehicle solutions like fleet tracking devices lets businesses and their in-house fleet managers reap several benefits. Check out the post below to learn more.
Welcome to ASP Cranes, your trusted partner for crane solutions in Raipur, Chhattisgarh! With years of experience and a commitment to excellence, we offer a comprehensive range of crane services tailored to meet your lifting and material handling needs.
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Understanding Catalytic Converter Theft:
What is a Catalytic Converter?: Learn about the function of catalytic converters in vehicles and why they are targeted by thieves.
Why are They Stolen?: Discover the valuable metals inside catalytic converters (such as platinum, palladium, and rhodium) that make them attractive to criminals.
Steps to Prevent Catalytic Converter Theft:
Parking Strategies: Tips on where and how to park your vehicle to reduce the risk of theft, such as parking in well-lit areas or secure garages.
Protective Devices: Overview of various anti-theft devices available, including catalytic converter locks, shields, and alarms.
Etching and Marking: The benefits of etching your vehicle’s VIN on the catalytic converter or using a catalytic converter marking kit to make it traceable and less appealing to thieves.
Surveillance and Monitoring: Recommendations for using security cameras and motion-sensor lights to deter thieves.
Statistics and Insights:
Theft Rates by Borough: Analysis of data to determine which borough in NYC experiences the highest rate of catalytic converter thefts.
Recent Trends: Current trends and patterns in catalytic converter thefts to help you stay aware of emerging hotspots and tactics used by thieves.
Benefits of This Presentation:
Awareness: Increase your awareness about catalytic converter theft and its impact on vehicle owners.
Practical Tips: Gain actionable insights and tips to effectively prevent catalytic converter theft.
Local Insights: Understand the specific risks in different NYC boroughs, helping you take targeted preventive measures.
This presentation aims to equip you with the knowledge and tools needed to protect your vehicle from catalytic converter theft, ensuring you are prepared and proactive in safeguarding your property.
2. Why Research in Business?
• Information
• Interpretation
Example: New Coke in 1985: what went wrong?
Before the launch: Survey
• Loyal consumers were divided about the change in taste of Coke
• Loyal consumers also drink Pepsi, for its sweeter taste
Focus Group:
• Dissatisfaction about the taste
After the Launch things didn’t work. Why?
• The research was erroneous/ interpretations were wrong
• They didn’t attach much importance to the consumers’ emotional
attachment with the original brand
3. Stimulators for Business Research
• Internet and information
• Stakeholders’ influence
• Competition
• Government intervention
• Complex decisions
• Computing power and speed
4. Computing Power and Speed
Real-time
Access
Real-time
Access
Lower-cost
Data
Collection
Powerful
Computation
Powerful
Computation
Better
Visualization
Tools
Better
Visualization
Tools
Integration of
Data
Integration of
Data
FactorsFactors
5. Business Research
• A process of determining, acquiring,
analyzing, synthesizing, and disseminating
relevant business data, information, and
insights to decision makers in ways that
mobilize the organization to take
appropriate business actions that,
in turn, maximize business performance
6. Relevance & Significance of Research
Relevance
• It’s very useful in solving operational and planning problems of
industry and business
• It’s a necessity in today’s business environment as it has become
essential for surviving in today’s world
Significance
• It reduces uncertainty by providing information that improves the
decision making process
• Its contribution is valuable to the business of the company involved
because it unfolds different directions of thinking, adds to existing
knowledge and leads to different findings that may be useful for
implementation
7. How to Proceed about Business Research?
• Satisfy customer groups: Consumers, Employees,
Shareholders etc.
• Controllable variables: Product, Pricing, Promotion,
Distribution
• Uncontrollable factors: Economy, regulations, political
and social factors etc.
• The decision maker needs info on customers, competitors
and other forces. Sound information is key to the correct
management decisions
• Having the info and analysing it: research can provide
meaningful insights to facilitate decision making
8. Business Planning Drives Business
Research
Organizational
Mission
Business
Goals:
sales, productivity,
profitability, efficiency etc.
Business
Strategies
Business
Tactics:
Activities executing
a strategy
Decision Support :
DSS, BIS
DSS:
Numerous elements of data
organized for retrieval and use in
Business decision making;
Stored and retrieved via Intranets,
Extranets
BIS:
Ongoing information
Collection; Focused on events,
trends in micro and
macro-environments
9. Purpose of Business Research
• Identify opportunities/problems
• Defina/ refine strategies
• Define/refine tactics
• Improve understanding about different
aspects of business
10. Hierarchy of Business Decision Makers
Visionaries
Intuitive Decision Makers
Standardized
Decision Makers
Visionaries
11. Who Conducts Research?
• Internal Research Suppliers
• External Research Suppliers
– Research Firms
– Communication Agencies
– Consultants
12. When to Conduct Research
• Can It Pass These Tests?
• Can information be applied to a critical
decision?
• Will the information improve managerial
decision making?
• Are sufficient resources available?
• Will the time permit?
13. When should Business Research be conducted?
Issufficient
time
available
before
amanagerial
decision
must
bemade?
Isthe
information
already on
hand
inadequate
for making
thedecision?
Isthe
decision
of
considerable
Strategic or
Tactical
importance?
Doesthe
Valueof the
Research
Information
Exceed the
Cost of
Conducting
research?
Conduct
Business
Research
Business Research Should Not be Conducted
Yes Yes Yes
Yes
No No No No
Time
Constraint
Availability
of data
Nature of
decision
Benefits vs
costs
14. Characteristics of
Good Research
Clearly defined purposeClearly defined purpose
Detailed research processDetailed research process
Thoroughly planned designThoroughly planned design
High ethical standardsHigh ethical standards
Limitations addressedLimitations addressed
Adequate analysisAdequate analysis
Unambiguous presentationUnambiguous presentation
Conclusions justifiedConclusions justified
CredentialsCredentials
16. Problem No. 2
A finance company has its own agents in
the rural areas as well as urban areas. Its
Fixed Deposit market in rural areas are
quite good. Now, the company wants to
explore the market for insurance through its
own distribution channel. How the
company will do it?
18. Problem No. 4
• Kellogg’s experienced a slump in the
market. Why?
Identification
• How to solve the problem?
Solution
19. Problem No. 5
How to recover old (disconnected) phone sets
from the consumers?
20. Problem No. 6
• A not-very-much-known pharmaceutical
company wants to increase its market share
and also make its presence felt in way of
some other related products/ services
21. Research ProblemsResearch Problems
From the research idea one has to think of a general research question and formulate a
research problem. E.g. you are interested about NGOs in India. From this you have to make
a research question like, how their work is doing good to our people and/or how their
fundings are coming
Examples of Research ProblemsExamples of Research Problems
Marketing
Market Potentials/share/segmentation/characteristics
Advertising research
Product Launching
Design of advertisements
Purchasing Pattern of Consumers
Finance
Credit Card Industry
Mergers and acquisitions
General Business
Forecasting
Industry trends
Global environments
22. Some More Specific Business Research Topics:
Marketing
• Factors Influencing Expenditure on Consumption of Milk and Milk Product in
Chennai
• Demographic Factor: A Determinant for the Purchase Decision of
Motorcycles in Kanchipuram Town (Tamil Nadu)
• A Survey of Consumer Awareness about Consumer Legislations in India.
• Consumer Behavior towards Mobile Service Providers: An Empirical Study
Finance
• Inter - Industry Differences in Capital Structure: Evidence from India
• Accumulation of Market Power in Mergers and Acquisitions: Evidence from
the Indian Pharmaceutical Industry
• Effect of Expiration - Day of Derivatives on Price, Volume and Volatility of
Cash Segment of Stock Market
HR
• Climate Profile and Organizational Citizenship Behaviors: A Comparative
Analysis of Teachers Working in Public and Private Schools
23. Steps of Research
• Planning
Establish Research Objective
Formulation of a Research Problem
Preparation of the Research Design
• Operation
Data Collection
Analysis of Data
Interpretation of Results
• Reporting
Drafting: a summary of the process
Findings
Suggestion for further research
24. Basic Tenets of Research
• Scientific Method (sound reasoning)
– Direct observation
– Clearly defined variables/methods
– Empirically testable hypotheses
– Statistical justification of conclusions
– Self-correcting process
– Sound Reasoning: Exposition and Argument
– Deduction (conclusive: strong bond b/w reason
and conclusion)
– Induction
25. Deductive Reasoning
Inner-city household
interviewing is especially
difficult and expensive
Inner-city household
interviewing is especially
difficult and expensive
This survey involves
substantial inner-city
household interviewing
This survey involves
substantial inner-city
household interviewing
The interviewing in this
survey will be especially
difficult and expensive
The interviewing in this
survey will be especially
difficult and expensive
26. Inductive Reasoning
• Why didn’t sales increase during the
promotional event?
– Regional retailers did not have sufficient stock to
fill customer requests during the promotional
period
– A strike by employees prevented stock from
arriving in time for promotion to be effective
– A hurricane closed retail outlets in the region for
10 days during the promotion
28. Basic Tenets of Research
• Language of Research
– Concepts
– Constructs
– Definitions
– Variables
– Propositions
& Hypothesis
– Theory
– Models
29. A Variable Is the Property Being
Studied
VariableVariable
EventEvent ActAct
CharacteristicCharacteristic TraitTrait
AttributeAttribute
30. Types of Variables
DichotomousDichotomous
Male/Female
Employed/ Unemployed
Male/Female
Employed/ Unemployed
DiscreteDiscrete
Ethnic background
Educational level
Religious affiliation
Ethnic background
Educational level
Religious affiliation
ContinuousContinuous
Income
Temperature
Age
Income
Temperature
Age
35. Moderating Variables (MV)
• The introduction of a four-day week (IV) will lead to
higher productivity (DV), especially among younger
workers (MV)
• The switch to commission from a salary
compensation system (IV) will lead to increased sales
(DV) per worker, especially more experienced
workers (MV).
• The loss of mining jobs (IV) leads to acceptance of
higher-risk behaviors to earn a family-supporting
income (DV) – particularly among those with a
limited education (MV).
36. Extraneous Variables (EV)
• With new customers (EV-control), a switch to
commission from a salary compensation system (IV)
will lead to increased sales productivity (DV) per
worker, especially among younger workers (MV).
• Among residents with less than a high school education
(EV-control), the loss of jobs (IV) leads to high-risk
behaviors (DV), especially due to the proximity of the
firing range (MV).
37. Intervening Variables (IVV)
• The switch to a commission compensation system
(IV) will lead to higher sales (DV) by increasing
overall compensation (IVV).
• A promotion campaign (IV) will increase savings
activity (DV), especially when free prizes are offered
(MV), but chiefly among smaller savers (EV-control).
The results come from enhancing the motivation to
save (IVV).
38. Hypothesis Formats
•Descriptive Hypothesis
–In Detroit, our potato chip market share stands at
13.7%.
–American cities are experiencing budget difficulties.
•Research Question
–What is the market share for our potato chips in Detroit?
–Are American cities experiencing budget difficulties?
•Proposition and Hypothesis
39. Relational Hypotheses
•Correlational
•Young women (under 35)
purchase fewer units of our
product than women who
are older than 35.
•The number of suits sold
varies directly with the level
of the business cycle.
•Causal
•An increase in family
income leads to an increase
in the percentage of income
saved.
•Loyalty to a grocery store
increases the probability of
purchasing that store’s
private brand products.
40. The Role of Hypotheses
Guide the direction of the studyGuide the direction of the study
Identify relevant factsIdentify relevant facts
Suggest most appropriate research designSuggest most appropriate research design
Provide framework for organizing resulting
conclusions
Provide framework for organizing resulting
conclusions
41. • Research Hypotheses: The formulation of hypotheses or propositions that
may be possible answers to research questions is an important step in the
process of formulating the research question. The hypothesis is a testable
proposition. This particular aspect needs to be discussed in some detail.
Sources of Hypothesis
• Theory (Testing efficient market hypothesis for Indian data)
• Observation (girls are more serious about attending classes than boys)
• Analogies (Loyal customers expect better post purchase service for
consumer durables……..)
• Intuition & experience
• Previous research findings (there exists co-movement in stocks……this
motivated me in finding out whether the volatility in those stocks trigger
more volty in our market or not)
• Existing literature/ state of knowledge
• Culture / Socio-economic environment
• Continuity of research (FII nature followed by FII volatility)
41
42. Characteristics of a good hypothesis
It should be:
• Conceptually clear
• Specific
• Testable
• Should have applicability of techniques
• Theoretically relevant
• Consistent
• Objective
• Not very complex
42
43. How to Develop a Hypothesis: The Rules
Take the variable measurements with the most quantitative
characteristics available
Make the measurement of the scale (of the variable) explicit
and clear
Use the variables which can be clearly defined and commonly
accepted, do not use vague terms
Try to be more specific, e.g. link two or more formal
propositions through a common variable if possible
43
44. Testing of Statistical Hypotheses
Hypothesis is only a hunch or a provisional idea that
should be tested by proper methods and the result
may be either acceptance or rejection. The researcher
should not try to ‘prove’ the hypothesis, but try to
‘test’ it.
Type I and Type II errors are associated with it:
Type I: Reject the hypothesis when it is true
Type II: Accept the hypothesis when it is false
44
45. Criteria for judging hypothesis
• One can evaluate the hyp. using the criteria suggested
by Goode & Hatt whether it is conceptually clear, has
empirical reference, specific, related to techniques
and related to any theory or not.
• According to Clover & Basley, the criteria are:
whether all the aspects are covered, all the
possibilities considered and the hypothesis is strongly
related to the research question or the problem.
45
46. Theory & Model
• Theory: a set of systematically interrelated
concepts/definitions/propositions to explain
facts
• Model: representation of a system
An organization’s mission drives its business goals, strategies, and tactics and, consequently, its need for business decision support systems and business intelligence. Students need to understand the differences in these concepts to fully understand what drives a manager to seek solutions through research.
Exhibit 1-2
Exhibit 1-2 illustrates the hierarchy of business decision makers.
In the bottom tier, most decisions are based on past experience or instinct. Decisions are also supported with secondary data searches.
In the middle tier, some decisions are based on business research.
In the top tier, every decision is guided by business research. Firms develop proprietary methodologies and are innovative in their combination of methodologies. There is access to research data and findings throughout the organization.
Exhibit 1-5 presents the characteristics of good business research and also explains what managers should look for in research done by others.
You might wish to discuss the concepts here, before you discuss who actually conducts research…or you might want to discuss who conducts research first, followed by this slide to summarize.
This slide provides an example of an inductive argument.
Exhibit 3-8
Induction and deduction can be used together in research reasoning. Induction occurs when we observe a fact and ask, “Why is this?” In answer to this question, we advance a tentative explanation or hypothesis. The hypothesis is plausible if it explains the event or condition (fact) that prompted the question. Deduction is the process by which we test whether the hypothesis is capable of explaining the fact.
Exhibit 3-8 illustrates this process.
In practice, the term variable is used as a synonym for the property being studied. In this context, a variable is a symbol of an event, act, characteristic, trait, or attribute that can be measured and to which we assign categorical values. The different types of variables are presented on the following slides.
For the purposes of data entry and analysis, we assign numerical values to a variable based on that variable’s properties. Dichotomous variables have only two values that reflect the absence or presence of a property. Variables also take on values representing added categories such as demographic variables. All such variables are said to be discrete since only certain values are possible. Continuous variables take on values within a given range or, in some cases, an infinite set.
Exhibit 3-2
Exhibit 3-2 presents the commonly used synonyms for independent and dependent variables.
An independent variable is the variable manipulated by the researcher to cause an effect on the dependent variable.
The dependent variable is the variable expected to be affected by the manipulation of an independent variable.
Moderating variables are variables that are believed to have a significant contributory or contingent effect on the originally stated IV-DV relationship. Whether a variable is treated as an independent or as a moderating variable depends on the hypothesis. Examples of moderating variables are shown in the slide.
Extraneous variables are variables that could conceivably affect a given relationship. Some can be treated as independent or moderating variables or assumed or excluded from the study. If an extraneous variable might confound the study, the extraneous variable may be introduced as a control variable to help interpret the relationship between variables. Examples are given in the slide.
An intervening variable (IVV) is a factor that affects the observed phenomenon but cannot be measured or manipulated. It is a conceptual mechanism through which the IV and MV might affect the DV.
A descriptive hypothesis is a statement about the existence, size, form, or distribution of a variable. Researchers often use a research question rather than a descriptive hypothesis. Examples are provided in the slide. Either format is acceptable, but the descriptive hypothesis has three advantages over the research question.
Descriptive hypotheses encourage researchers to crystallize their thinking about the likely relationships.
Descriptive hypotheses encourage researchers to think about the implications of a supported or rejected finding.
Descriptive hypotheses are useful for testing statistical significance.
A relational hypothesis is a statement about the relationship between two variables with respect to some case. Relational hypotheses may be correlational or explanatory (causal).
A correlational hypothesis is a statement indicating that variables occur together in some specified manner without implying that one causes the other.
A causal hypothesis is a statement that describes a relationship between two variables in which one variable leads to a specified effect on the other variable.
This slide presents the functions served by hypotheses.