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Research Methodology

14 October 2012

TriM II, PGDM RM 2012-14,

Welingkar Institute of Management

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Recapping yesterday

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How committed are you

to this RM course?

How will you prove it?

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Indicators of commitment to the course

Attending all lectures

Completing all assignments on time

Reading up more about the course from other books

Be updated about this field by reading journals andnewsletters

Helping others understand the subject better

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How committed are you

to taking care of your parents?

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How committed are you

to finding true love?

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How committed are you

to living a healthy, happy, successful life?

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Can numbers make us feel happy / optimistic?

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Coke 2010 and 2011

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The course contents

1. Relevance & Scope of Research in Management

2. Steps Involved in the Research Process

3. Identification of Research Problem

4. Research Design

5. Data Collection Methodology

1. Primary Data Collection Methods / Measurement Techniques Characteristics of Measurement Techniques Reliability, Validity etc.

2. Secondary Data Collection Methods Library Research, References Bibliography, Abstracts, etc.

6. Analysis Techniques Qualitative & Quantitative Analysis Techniques

Techniques of Testing Hypothesis Chi-square, T-test, Correlation &Regression Analysis, Analysis of Variance, etc. Making Choice of anAppropriate Analysis Technique

7. Research Report Writing

8. Computer Aided Research Methodology

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The course contents

1. Relevance & Scope of Research in Management

2. Steps Involved in the Research Process

3. Identification of Research Problem

4. Research Design

5. Data Collection Methodology

1. Primary Data Collection Methods / Measurement Techniques Characteristics of Measurement Techniques Reliability, Validity etc.

2. Secondary Data Collection Methods Library Research, References Bibliography, Abstracts, etc.

6. Analysis Techniques Qualitative & Quantitative Analysis Techniques

Techniques of Testing Hypothesis Chi-square, T-test, Correlation &Regression Analysis, Analysis of Variance, etc. Making Choice of anAppropriate Analysis Technique

7. Research Report Writing

8. Computer Aided Research Methodology

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Overview of Research Process

Evolves From Answers to Five Key Questions:

Why should we do research?

What research should be done?

Is it worth doing the research? How should the research be designed to achieve the

research objectives?

What will we do with the research?

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Research Process

Information system

Databases

DSS

Planning system

Strategic plans

Tactical plans

PLANNING AND INFORMATION SYSTEM

1. AGREE ON RESEARCH PROCESS

Problems or opportunities Decision alternatives

Research users

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Research Process

2. ESTABLISH RESEARCH OBJECTIVES

Research questions

Hypotheses

Boundaries of study

Estimate thevalue of

informationIs benefit > cost?

Do not conduct

marketing researchNO

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Research Process

4. DESIGN THE RESEARCH

Choose among alternative research approaches

Specify the sampling plan

Design the experiment

Design the questionnaire

YES

5. COLLECT THE DATA

7. REPORT THE RESEARCH RESULTS AND PROVIDE STRATEGIC

RECOMMENDATIONS

6. PREPARE AND ANALYZE THE DATA

Is benefit > cost

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The Research ProcessStep 1- Research Purpose

Problem or opportunity analysis

Which problems or opportunities are anticipated?

What is the scope of the problems and the possiblereasons?

Evaluation of decision alternatives What are the alternatives being studied?

What are the criteria for choosing among the alternatives?

What is the timing or importance of the decision?

Research users

Who are the decision makers?

Are there any covert purposes?

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Problem or Opportunity Analysis

What Do Todays Buyers Want?

Todays Buyers are:

Skeptical

Cautious Tired of selling and sales pressure

Busy

Confused

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The Research ProcessStep 2 - Research Objective

A statement of what information is needed

Research objective should be framed to ensureinformation obtained will satisfy research purpose

Components of research objectives:

Research Question

Hypothesis Development

Research Boundaries

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Research Question

Asks what specific information is required to achieve theresearch purpose

Sample questions to determine if a specific advertisement should be run:

Will the advertisement be noticed?

Will it be interpreted accurately?

Will it influence attitudes?

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Hypothesis Development

A hypothesis is a possible answer to a research question.

Generating a hypothesis

Draw on previous research efforts

Borrow from other disciplines such as:

Psychology Sociology

Marketing

Economics

Managers experience with related problems, coupledwith knowledge and the use of judgment

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Hypothesis Development

Research

Objective

Theory

Management experience

Exploratory research

Research

QuestionHypothesis

Research

PurposeResearch

Design

Source

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The Research ProcessStep 3 - Estimating the Value of Information

Value depends on:

Importance of decision

Uncertainty that surrounds it Influence of research information on the decision

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Illustrative Decision Models

Case B

Case A

$ 4 million

$ 1 million

$ 4 million

-$ 2.5 million

Success

Success

Failure

Failure

Introduce

Introduce

Do not introduce

Do not introduce

$0

$0

$ 4 million

$ 1 million

$ 4 million

-$ 2.5 million

Success

Success

Failure

Failure

Introduce

Introduce

Do not introduce

Do not introduce

$0

$0

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Next Step: Research Design

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Thank you

Nirav Parekh

niravbparekh@gmail.com

+91 98199 69372