Introduction to Research Methodology

Parag Mahulikar

Customer
A Customer is the most important visitor on our premises.He is not dependent on us. We are dependent on him.He is not an interruption on our work.He is the purpose of it. He is not an outsider on our business. He is the part of it.We are not doing him a favour by serving him.He is doing us a favour by giving us an opportunity to do so. ---Mahatma Gandhi

CONSUMER

Consumer is not a moron. She is your wife. David Ogilvy

What is Business Research?

Business Research Defined

Business research is defined as the systematic and objective process of generating information for making better business decisions.

It aint the things we dont know that gets us in trouble. Its the things we know that aint so.
Artemus Ward

Types of Research

Business Research Types

Basic research
Applied research

Basic Research
Attempts to expand the limits of

knowledge.
Not directly involved in the solution to a

pragmatic problem.

Basic Research Example

Is executive success correlated with

high need for achievement? Are members of highly cohesive work groups more satisfied than members of less cohesive work groups? Do consumers experience cognitive dissonance in low-involvement situations?

"The secret of success is to know something nobody else knows. " Aristotle Onassis

Applied Research

Conducted when a decision must

be made about a specific real-life problem

Applied Research Examples

Should McDonalds add Vada-Pav to its

menu? Should HUL start hotel chains? Should P & G increase the price of their shampoos? Should Glaxo diversify into baby care products? Should J & J launch low-priced baby products?

Availability of Data Benefits Time Constraints Nature of the Decision vs. Costs
Is sufficient time available before a managerial decision must be made?
Yes

Determining When to Conduct Business Research

Is the information already on hand inadequate for making the decision?
Yes

Is the decision Yes of considerable strategic or tactical importance?

Does the value of the research Yes information exceed the cost of conducting research?

Conducting Business Research

No

No

No

No

Do Not Conduct Business Research

BUSINESS REVOLVES AROUND CUNSUMER

Purchase

After Sales Service

Production

CONSUMER

Distribution

Marketing

There are only two functions In every organization: 1.Innovation 2.Marketing

Logistics

Does the Customer Know What he Wants?

He does not know! He never knew!! He would never know!!!

Does the Customer Know What he Wants?

Do not ask customer what he wants. Do not ask him solutions. Ask him what does new product do for him? Customers know only what they have experienced. They cant imagine what they do not know: New technologies,

Materials etc. They suggest things usually other companies offer:

Me too products or marginally improved products. Example: Kawasaki Jet Sky Stand up recreational water craft Cup Holders in American cars.

Business Research
Research information is neither intuitive

nor haphazardly gathered. Literally, research (re-search) -search again Business research must be objective Detached and impersonal rather than biased It facilitates the managerial decision process for all aspects of a business.

Complex Indian Market

Consumer goods and Pharma--both the

markets are extremely competitive and complex. FMCG Brand No. Toilet soaps 250 Washing Powder 120 Toothpaste 100 Tea 210 Pharmaceuticals 18,000

Magic of Seven
Seven days a week.

Seven swaras in music.

Seven colours. Seven rishis (saptarshi).

Seven generations.
Seven pheras in marriage. Seven reincarnations. Seven Gods of Egyptians. Seven sacred horses of Persians. Seven Gods of happiness & luck of Japanese.

Magic of Seven

Seven sisters for Greeks. Rome was built on seven hills. (Tirupati Devatsanam) Sun Gods chariot has seven horses. Seven ancient wonders. Seven seas. Seven continents. Seven people are required to form a companycompanys Act. Seven habits of highly effective people. Seven Samurai-Akio Kurosawa. The Seven Year Itch-Marilyn Monroes 1955 film

Changing Customers
Customers are dynamic. We cant fight todays market with

yesterdays tools. Nescafe Instant Jalebi Mix

Information
To manage a business well Is to manage its future and, To manage its future, Is to manage information. --Marion Harper
And BR / MR helps you to manage information and hence the business.

Alvin Tofflers Algorithm

DATA INFORMATION KNOWLEDGE POWER

Diagnostics
Business research is a potent technique. Business research does not guarantee

success!
Business research helps take better business

decisions.
Res.+Experience+Guts = Better Decisions

THANK YOU !