Department of Business Administration

Block No. 13, Sector H-8, Allama Iqbal Open University, Islamabad.

Business Research Methods (524)
Assignment No. 01
Submitted to:
Dr. Syed Hassan Raza
Director / Focal Person Wafaqi Mohtasib Cell, Block 25, Second (2nd) Floor, Allama Iqbal Open University (AIOU) Sector H-8, ISLAMABAD (0334-512 5050)

Submitted by:
Muhammad Hammad Manzoor MBA (HRM) – 2nd Semester
Roll No. 508195394 508, 5 Floor, Continental Trade Centre (CTC) Block – 08, Clifton, KARACHI
th

Business Research Methods (524)
(0321-584 2326, 0322-555 5901)

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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524) Q. No. 01 For a marketing manager of broadcasting sector, why is it necessary to have knowledge of business research? Explain in detail. Answer: Business Research Methods
“Business research method is a careful and diligent study of a market, an industry or a particular company's business operations, using investigative techniques to discover facts, examine theories or develop an action plan based on discovered facts. “ OR “Business research is a systematic and organized effort to investigate a specific problem encountered in the work setting that needs a solution.” The research provides the needed information that guides managers to make informed decisions to successfully deal with problems.

Why Marketing Research is Important for Managers
Just the phrase marketing research can make people feel overwhelmed, by understanding what it is and why it's important can relieve that tensions. There is a difference in market research and marketing research, let me explain. Market research is when you have narrowed down a specific "target" and you are delving into the behavior of that target. In other words, it's research into a very narrow group of consumers. Marketing research is different. Different because it's dealing with a broader range of consumers. Marketing research includes "market" research, but it also delves into new product research and distribution methods. The best way to differentiate the two is to understand that marketing research is really about researching the marketing process of a company, not just who they are targeting. Marketing research will include the following steps for Marketing Managers in broadcasting sector:
1. Problem

Definition: The problem is the focus of your research. Example: Why are sales soaring in the midwest, but dismal in other parts of the country?
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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524)
2. Data

Collection Method and Needs: How will you collect the data that

you will need to solve the problem? Will you use surveys, telephone calls or focus groups on the internet?
3. Determine

Sampling represents those you will collect information from. Will it be a random sampling, a sampling that contains a similar element or a natural sampling?
4. Data

Sample Method: What sampling method will you use?

Analysis: How will you analyze the data? Will you use software or do

it by hand? How accurate do the results need to be?
5. Determine 6. Data

Budget and Timeframe: How much are you willing to spend on the research and how soon must the research be complete? Collection: Proceed in data collection based on answers in Steps 1- 5. of the Data: Conduct the analysis of the data that has been

7. Analysis 8. Error

collected in previous Step.

found in data collected. Errors can be in the sampling method, data collections as well as just analytical mistakes.
9. Create

Check: Check for errors in data. It is not uncommon for errors to be

Your Report: The final step of marketing research is to draft a

report on your findings. Your report should contain tables, charts, and or diagrams. It's important that your report clearly communicate the results that you found in your research. Your findings should lead to a solution to the problem you identified in Step 1.

Market Research Is An Essential Management Tool for Broadcasting Marketing Manager:
Market research consists of a plan that charts how relevant data is to be collected and analyzed so that the results are useful and relevant for making marketing decisions. Once the research and the related analysis are complete, the results are communicated to management. This provides management with in-depth information regarding crucial factors that have an impact on the target market and existing marketing mix. Market research allows management to make the changes necessary for better results through adopting a proactive approach.

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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524) Market Research - Importance, Goals and Methods:
Market research is a continuing exercise to collect and analyze environmental, consumer, competitor and industry information to make marketing decisions less risky. Marketing managers have to make decisions about products, pricing, promotional tactics and distribution channels in a complex environment. General economic conditions, technology, extent and strength of competition and political conditions can affect the market for their products. And the behavior of their consumers is influenced by numerous factors. It is continuing market research that helps marketing managers take sound decisions in such an environment.

Information Provided by Market Research
Market research should provide marketing managers a clear picture of the market, including:
• • • • •

Customer information, such as their locations, age, gender, buying behavior and motivations Competitor information, such as their identity, marketing network, customer focus and scale of operations Product information, such as how customers talk about it, and likely impact of technology developments Industry information, such as volumes of demand and supply, trend of sales, seasonal demand patterns Competitive opportunities, such as under-served consumer segments and unmet consumer needs.

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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524) Q. No. 02Being an external researcher at a cellular company with low market share, how would you design the exploratory research? Explain with example. Exploratory research
“Exploratory research is conducted into an issue or problem where there are few or no earlier studies to refer to. The focus is on gaining insights and familiarity for later investigation. Secondly, descriptive research describes phenomena as they exist. Here data is often quantitative and statistics applied. It is used to identify and obtain information on a particular problem or issue. Finally causal or predictive research seeks to explain what is happening in a particular situation. It aims to generalize from an analysis by predicting certain phenomena on the basis of hypothesized general relationships.”

OR
“Exploratory research is a type of research conducted for a problem that has not been clearly defined. Exploratory research helps determine the best research design, data collection method and selection of subjects. It should draw definitive conclusions only with extreme caution. Given its fundamental nature, exploratory research often concludes that a perceived problem does not actually exist.”

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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524) Why Conduct Exploratory Research?
Diagnose a situation Screening of alternatives Discover new ideas

Categories of Exploratory Research
Experience surveys Secondary data analysis Case studies Pilot studies

Experience Surveys
“If you wish to know the road up the mountain, you must ask the man who goes back and forth on it.” Zenrinkusi
Ask knowledgeable individuals about a particular research problem - most are quite willing.

Secondary Data Analysis
• • • • • • • “Any • • • Data collected for a purpose other than the project at hand Economical Quick source for background information Intensely investigates one or a few situations similar to the problem Investigate in depth Careful study May require cooperation small scale exploratory study that uses sampling” Focus Group Interviews Projective Techniques In-Depth Interviews

Case Study Method

Pilot Study

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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524) Being an External Researcher at a Cellular Company:
Purpose of Research The purpose of the research is to determine the market and marketing strategy for a new low share cellular company which is to launch its brand in the market. Applied research is directed towards gaining knowledge or understanding necessary for determining the means by which current need may be met. In cellular industry, applied research includes investigations directed to the discovery of new specific knowledge having specific commercial objectives with respect to products, processes, or services. Development is the systematic utilization of the knowledge or understanding gained from research toward the production of useful materials, devices, systems, or methods, including design and development of prototypes and processes. Research Flow Chart

M ar k et S el ec ti Market o Selection n

Market Identification Data Collection Formulating Marketing Strategy

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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524)
Market Selection and Identification First a market research should be conducted to determine a “Target market” for the company. Being a low market share holder the company cannot entertain a broad target market, thus would select a small user market but that market should be a well defined class in a society for example: students, young professionals, frequent travelers, executives, entrepreneurs, or teenagers, and even gender specific social class like working women etc. Data Collection Data should be collected to know requirements and features needed by that target market. This would help in gaining popularity easily and to shape the brand according to the target market’s requirement. This data can be collected by distributing questionnaires, creating forums on internet interviewing people and collecting statistics from previous researches. Formulating Marketing Strategies On the basis of the findings and results of the collected data a marketing strategy can be formulated which can bring people to start using the product. These strategies should be made carefully keeping in mind the target market, their requirements, portraying actual features and properties of brand, cultural values of the society and in accordance with the law of the land. The marketing should not be too strenuous as the budget and market share plays a big role in its success. As the brand in discussion has a small market share, the marketing strategy should only hit the specific targets for which it has been launched. For example: if the company is bringing the product for youth or students, it should advertise and market it in the place where they are available and they could relate to it like universities, market places where there in more influx of young people, broadcast advertisement on TV and Radio channels that are more popular among them, and launch marketing campaigns allowing them to learn about the product in a fun way like sponsor festivals competitions, concerts etc.

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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524) Q. No. 03In Pakistan food inflation is very high, let us suppose government hires you as a researcher, how would you decide the sample size for this research, research design as well as implementation of research? Also explain the limitations of this research. Answer:
FOOD INFLATION
In the recent years, food price inflation has risen very sharply at global level. According to Commodity Research Bureau (2009), the overall and food inflation rates at global level stand at 16.5 and 30.2 percent respectively by November 06, 2007. Food inflation has increased the living cost of households especially in developing countries like Pakistan. Because of higher food inflation, households have to make reductions in some areas of food consumption leading to malnutrition. Malnutrition results in productivity losses of up to 10 percent of lifetime earnings and GDP losses of 2-3 percent in the worst affected countries (Alderman, 2005). High inflation erodes the benefits of growth and leaves the poor worse off (Esterly and Ficsher, 2001). It hurts the poor more, since more than half of the budget of low wage earners goes toward food. It redistributes income from fixed income groups to the owners of assets and businessmen and increases the gap between rich and poor (Khan et al, 2007). There are many factors contributing towards food inflation in Pakistan. Our domestic consumption is increasing because of growth in population and per capita income. There is lack of cold storages and proper marketing of perishable goods, therefore, if there is increase in demand or shortage in supply, prices will increase. A variety of agricultural and nonagricultural commodities is traded illegally at PakAfghan and Pak-Iran borders which creates substantial monetary loss to the Government of Pakistan in terms of public revenues which might be collected in the form of duties and taxes (Sharif et al. 2000). In Pakistan, food inflation remained 9.9 % on average during the study period (19722008) and below 10 % during 1997-08 to 2003-04. It started to accelerate after 200304 and increased up to 12.5% in 2004-05. It was 17.5 % and 26.6 % in 2007-08 and 2008-09 respectively. This sudden rise in food inflation was because of shortages of wheat, increase in the support price of wheat, increase in prices of some food items such as rice, edible oil, meat, pulses, tea, milk, fresh vegetables and fruit and a rise in international prices of food items along with the oil prices (Government of Pakistan, 2007, 2009). This high food inflation is a matter of great concern for policy makers.
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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524)

ROLE AS A GOVT. HIRED RESEARCER:
In the present paper both the monetarist and structuralist point of view has been considered together to explore the factors affecting food inflation in Pakistan.

METHODOLOGY AND DATA SOURCES
Economic literature on inflation provides some models that incorporate the demand and supply side factors (Hassan et al., 1995; Khan and Qasim, 1996; Callen and Chang, 1999; Bokil and Schimmelfennig, 2005 and Khan and Schimmelfennig, 2006). Following Khan and Schimmelfennig (2006), the stylized hybrid monetaristsstructulists model given below is formulated to capture the effect of certain demand and supply side factors of food price inflation in Pakistan.

t t-1 …… FPI f (FPI ,M2G ,PGDP ,ASP ,FX ,FM ) (1)
Where t= 1, 2, 3, …., 37. (time period ranging from 1972-2008) FPIt = Food Price Inflation (CPI food as proxy of Food Price Inflation) in time t FPIt 1= One year lag of FPIt (as proxy of inflation expectations) M2Gt = Growth Rate of Money Supply (M2) in time t PGDPt = Per Capita GDP (in Pak rupees) in time t ASPt = Agriculture Support Price (rupees/40kg of wheat) in time t FXt = Food Export (as percentage of merchandise export) in time t FMt= Food Import (as percentage of merchandise imports) in time t. Equation (1) can be rewritten for estimation purposes as follows:
t 0 1 t-1 2 t 3 t 4 t 5 t 6 t t

FPI FPI M2G PGDP ASP FX FM (2)
Where 0 is intercept and 1 2 3 4 5 , , , , , and 6 are the coefficients of FPIt ,M2Gt , PGDPt ,ASPt ,FXt and FMt respectively. t is identically and independently distributed error term and t as defined in equation (1).

(A) Stationarity and Non-stationarity
In real life, most of the macroeconomic time series variables like income, consumption, money, prices and trade are non-stationary. Philips (1986) points out that if we treat the nonstationary series with Ordinary Least Squares (OLS), the results will be misleading for economic analysis. The model can lead to the problem of spurious regressions with very high Rsquared

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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524)
(approximating unity) and significant t and F-statistics (Granger and Newbold, 1974). If the series is stationary without differencing, then it is of integrated order zero, I (0) or stationary at level. A series is said to be integrated of order one, or I (1), if it is stationary after differencing once and of order two, I (2) if differenced twice. Augmented Dickey-Fuller test proposed by Dickey and Fuller (1979, 1981) is widely used in economic literature to investigate the stationarity of a time series data. Dickey and Fuller (1979, 1981) on the basis of Monte-Carlo simulation and under the null-hypothesis of the existence of unit root in time series have tabulated critical values for tδ which are called ‘τ (tau) statistics’. Augmented Dickey and Fuller unit root test can be applied under following two steps. In step 1, OLS is regressed on required one of the following equations and save the usual tδ values.

(B)

Johansen Co-integration Test

Co-integration is a popular econometric technique which is used to find long run relationship between variables. In this study Johansen cointegration method is used to investigate long-run relationship among the concerned variables. Johansen (1988) and Johansen and Juselius (1990) is a better technique than Engle and Granger (1987). Engle and Granger (1987) method finds out only one co-integrating vector through two step estimation approach. While on the other hand, number of vectors can be found using maximum likelihood testing procedure suggested by Johansen (1988) and Johansen and Juselius (1990) in the Vector Autoregressive (VAR) representation. The general form of VAR can be written as following:
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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524)

(C) Data Sources
Annual data from 1972 to 2008 of concerned variables has been used bin this study. CPI food has been used as a proxy of food price inflation (FPI). Data of CPI food has been collected from various issues of Pakistan Economic Survey. Data of wheat support price as proxy agricultural support prices (ASP) has also been collected from various issues of Pakistan Economic Survey. Data of per capita gross domestic product (PGDP), growth rate of money supply (M2G), food exports (FX) and food imports (FM) have been taken from World Development Indicators (WDI) online database by World Bank (2009).

ESTIMATION OF THE MODEL AND EMPIRICAL RESULTS
Time series data covering the period of 1972 to 2008 has been used for the analysis. Before we proceed for co-integration and short run dynamics of food price inflation and its determinants, it is necessary to check the stationarity of data to determine the order of integration of concerned variables.

STATIONARITY OF DATA
In this study, ADF unit root test has been used to check the stationarity and order of integration of time series data of the variables of our interest. Schwarz Information Criterion has been used for maximum lag selection for applying ADF unit root test. The results of ADF test are presented in table-1.

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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524)

The results displayed in table-1 show that all the variables are nonstationary at level because t-statistics of ADF tests for all variables are statistically insignificant. However all variables are stationary at their first differences at 5% level of significance. Order of integration is also determined by unit root tests. Results indicate that all variables are integrated of order one I (1) as they are stationary at first difference.

DIAGNOSTIC TESTS
We applied the necessary diagnostic tests on our model to check the problems of normality, serial correlation, heteroskedasticity and model specification. The results of these tests are reported in table. 02

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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524)

Table No: 02

Diagnostic Tests (Long Run Model)

CONCLUSION AND POLICY IMPLICATIONS

In the recent years, food price inflation has risen very sharply at global level. It has increased the living cost of households especially in developing countries like Pakistan which results in malnutrition and, therefore, productivity losses. It hurts the poor more because they spend more than half of their budget on food. In Pakistan, food inflation remained 9.9 % on average during the study period (1972-2008), some time as high as 34.7 % in 1974 and 26.6 % in 2008-09. The results revealed that both demand and supply side factors determined food price inflation in Pakistan. However, on the basis of empirical results we may conclude that food price inflation is not a monetary phenomenon in Pakistan (money supply growth is statistically insignificant). While the supply side factor or structural factors have dominant role in determining the food prices. Support prices are the second major source of food price inflation in Pakistan. Government should pursue a moderate policy in raising support prices. Alternative to support price policy, government may provide subsidies on inputs as on fertilizers, pesticides, diesel and electricity. Government should also encourage and support farmers to adopt modern technology for higher production with lower production cost. Economic growth (increase in per capita GDP) is also contributing towards food price inflation according to this study. It is because the percentage share of services and manufacturing sectors to GDP is growing rapidly as compared to agricultural sector in Pakistan. Government should formulate proper policy for agriculture sector to fill the output gap. Sufficient credit facilities should be provided through formal and informal channel. Government should take measures to improve infrastructure, agriculture markets and
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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524)
land ownership system. Modern technology should be introduced to improve the production of food grains, meat, poultry and dairy products. According to our analysis, imports of food items are also inflationary because of higher prices of food item at global level and exchange rate depreciation. As a policy measure, we need to exploit our unrealized yield potential in production of food items as God has gifted us with all necessary resources. This study reveals that food exports affect food price inflation positively not only in the long run but also in the short run. Government should ban the exports of food items until they are over and above the domestic needs. For price stability in the country, buffer stocks of essential food items like wheat, sugar and pulses should be maintained. There should be maximum control on smuggling of wheat, rice and live stock to neighboring countries. Empirical results of this study prove that growth in money supply or expansionary monetary policy does not affect food price inflation significantly in Pakistan. In this situation it is suggested that government should encourage the expansion in private sector credit, especially towards the agricultural and its related sectors. There should be the availability and easy access of loans for all farmers for all types of their needs such as expenditure on the use of modern technology, inputs, marketing and storage facilities. Increase in public expenditures on the provision of infrastructure for rural areas will also be helpful for optimal utilization of the potential of agriculture sector.

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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524) Q. No. 04- Discuss the importance of measurement and scaling in relation to business research. Give the comparison with two suitable examples. Answer: Measurement
“The process of describing some property of a phenomenon of interest, usually by assigning numbers in a reliable and valid way.” OR “Measurement is the process of assigning numbers or labels to objects, persons, states, or events in accordance with specific rules to represent quantities or qualities of attributes.”  We do not measure specific objects, persons, etc., we measure attributes or features that define them.  Ex., What defines the person Brent Wren? What is a student’s level of education? How customer oriented is our company?  Overriding Goal: To provide a valid and reliable description or enumeration of the person, objects, issue, etc.

Four Basic Scales of Measurement

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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524) Scales
“A device providing a range of values that correspond to different values in a concept being measured.”

NOMINAL SCALES Nominal scales focus on only requiring a respondent to provide some type of descriptor as the raw response. Example. Please indicate your current martial status. __Married __ Single __ Single, never married __ Widowed ORDINAL SCALES Ordinal scales allow the respondent to express “relative magnitude” between the raw responses to a question Example. Which one statement best describes your opinion of an Intel PC processor? __ Higher than AMD’s PC processor __ About the same as AMD’s PC processor __ Lower than AMD’s PC processor INTERVAL SCALES Interval scales demonstrate the absolute differences between each scale point Example. How likely are you to recommend the Santa Fe Grill to a friend? Definitely will not Definitely will 1 2 3 4 5 6 7 RATIO SCALES Ratio scales allow for the identification of absolute differences between each scale point, and absolute comparisons between raw responses Example 1. Please circle the number of children under 18 years of age currently living in your household.
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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524)
0 1 2 3 4 5 6 7 (if more than 7, please specify ___.)

LIKERT SCALE
A Likert Scale is an ordinal scale format that asks respondents to indicate the extent to which they agree or disagree with a series of mental or behavioral belief statements about a given object.

SEMANTIC DIFFERENTIAL SCALE A Semantic Differential Scale is unique bipolar ordinal scale format that captures a person’s attitudes and/or feelings about a given object.

BEHAVIORAL INTENTION SCALE A behavioral intention scale is a special type of rating scale designed to capture the likelihood that people will demonstrate some type of predictable behavior intent toward purchasing an object or service in a future time frame. OTHER RATING SCALES
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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524)
 Noncomparative Rating Scales

Format that requires a judgment without reference to another object, person, or concept

 Comparative Rating Scales

Format that requires a judgment comparing one object, person, or concept against another on the scale Graphic Rating Scale

DISCRETE MEASURES Discrete measures are those that take on only one of a finite number of values. A discrete scale is most often used to represent a classification variable. Therefore, discrete scales do not represent intensity of measures, only membership. Common discrete scales include any yes-or-no response, matching, color choices, or practically any scale that involves selecting from among a small number of categories. Thus, when someone is asked to choose from the following responses • Disagree • Neutral • Agree The result is a discrete value that can be coded 1, 2, or 3, respectively. This is also an ordinal scale to the extent that it represents an ordered
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Business Research Methods (524)
arrangement of agreement. Nominal and ordinal scales are discrete measures. Continuous Measures Measures that reflect the intensity of a concept by assigning values that can take on any value along some scale range.

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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524) Q. No. 05- Give the comparison of primary data and secondary data. Also give ten situations where it would be more beneficial to use primary data sources for research and five situations where it would be more beneficial to use secondary data sources for research. Answer: Data
Data is important in computer science. Numbers, images and figures in computer are all data.

Types of Data

Types of Data

Primary Data

Secondary Data

Primary Data:

“Primary data are data that you collect yourself”

Data that has been collected from first-hand-experience is known as primary data. Primary data has not been published yet and is more reliable, authentic and objective. Primary data has not been changed or altered by human beings; therefore its validity is greater than secondary data.

Importance of Primary Data:

Importance of Primary data cannot be neglected. A research can be conducted without secondary data but a research based on only secondary data is least reliable and may have biases because secondary data has already been manipulated by human beings. In
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Business Research Methods (524)
statistical surveys it is necessary to get information from primary sources and work on primary data: for example, the statistical records of female population in a country cannot be based on newspaper, magazine and other printed sources. One such sources are old and secondly they contain limited information as well as they can be misleading and biased.

Validity:
Validity is one of the major concerns in a research. Validity is the quality of a research that makes it trustworthy and scientific. Validity is the use of scientific methods in research to make it logical and acceptable. Using primary data in research can improves the validity of research. First hand information obtained from a sample that is representative of the target population will yield data that will be valid for the entire target population.

Authenticity:

Authenticity is the genuineness of the research. Authenticity can be at stake if the researcher invests personal biases or uses misleading information int he research. Primary research tools and data can become more authentic if the methods chosen to analyze and interpret data are valid and reasonably suitable for the data type. . Primary sources are more authentic because the facts have not been overdone. Primary source can be less authentic if the source hides information or alters facts due to some personal reasons. There are methods that can be employed to ensure factual yielding of data from the source.

Reliability:
Reliability is the certainty that the research is enough true to be trusted on. For example, if a research study concludes that junk food consumption does not increase the risk of cancer and heart diseases. This conclusion should have to be drawn from a sample whose size, sampling technique and variability is not questionable. Reliability improves with using primary data. In the similar research mentioned above if the researcher uses experimental method and questionnaires the results will be highly reliable. On the other hand, if he relies on the data available in books
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Business Research Methods (524)
and on internet he will collect information that does not represent the real facts.

Sources of Primary Data:

Sources for primary data are limited and at times it becomes difficult to obtain data from primary source because of either scarcity of population or lack of cooperation. Regardless of any difficulty one can face in collecting primary data; it is the most authentic and reliable data source. Following are some of the sources of primary data.

Experiments:

Experiments require an artificial or natural setting in which to perform logical study to collect data. Experiments are more suitable for medicine, psychological studies, nutrition and for other scientific studies. In experiments the experimenter has to keep control over the influence of any extraneous variable on the results.

Survey:

Survey is most commonly used method in social sciences, management, marketing and psychology to some extent. Surveys can be conducted in different methods. • Questionnaire: is the most commonly used method in survey. Questionnaires are a list of questions open-ended or close -ended for which the respondent gives answers. Questionnaire can be conducted via telephone, mail, live in a public area, or in an institute, through electronic mail or through fax and other methods.

Interview: Interview is a face-to-face conversation with the respondent. In interview the main problem arises when the respondent deliberately hides information otherwise it is an in depth source of information. The interviewer can not only record the statements the interviewee speaks but he can observe the body language, expressions and other reactions to the questions too. This enables the interviewer to draw conclusions easily. Observations: Observation can be done while letting the observing person know that he is being observed or without

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Business Research Methods (524)
letting him know. Observations can also be made in natural settings as well as in artificially created environment.

Secondary Data:
Data collected from a source that has already been published in any form is called as secondary data. The review of literature in nay research is based on secondary data. Mostly from books, journals and periodicals.

Importance of Secondary Data:

Secondary data can be less valid but its importance is still there. Sometimes it is difficult to obtain primary data; in these cases getting information from secondary sources is easier and possible. Sometimes primary data does not exist in such situation one has to confine the research on secondary data. Sometimes primary data is present but the respondents are not willing to reveal it in such case too secondary data can suffice: for example, if the research is on the psychology of transsexuals first it is difficult to find out transsexuals and second they may not be willing to give information you want for your research, so you can collect data from books or other published sources.

Sources of Secondary Data:
Secondary data is often readily available. After the expense of electronic media and internet the availability of secondary data has become much easier.

Published Printed Sources:
There is variety of published printed sources. Their credibility depends on many factors. For example, on the writer, publishing company and time and date when published. New sources are preferred and old sources should be avoided as new technology and researches bring new facts into light. Books: Books are available today on any topic that you want to research. The uses of books start before even you have selected the topic. After selection of topics books provide insight on how much work has already been done on the same topic and you can prepare your literature review. Books are secondary source but most authentic one in secondary sources.

Journals/periodicals: Journals and periodicals are becoming more important as far as data collection is concerned. The reason is that journals provide up-to-date information which at times books cannot and secondly, journals can give information on the very

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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524)
specific topic on which you are researching rather talking about more general topics. Magazines/Newspapers: Magazines are also effective but not very reliable. Newspaper on the other hand is more reliable and in some cases the information can only be obtained from newspapers as in the case of some political studies.

Published Electronic Sources:
As internet is becoming more advance, fast and reachable to the masses; it has been seen that much information that is not available in printed form is available on internet. In the past the credibility of internet was questionable but today it is not. The reason is that in the past journals and books were seldom published on internet but today almost every journal and book is available online. Some are free and for others you have to pay the price.

E-journals: e-journals are more commonly available than printed journals. Latest journals are difficult to retrieve without subscription but if your university has an e-library you can view any journal, print it and those that are not available you can make an order for them. General Websites; Generally websites do not contain very reliable information so their content should be checked for the reliability before quoting from them.

• Weblogs: Weblogs are also becoming common. They are actually diaries written by different people. These diaries are as reliable to use as personal written diaries.

Unpublished Personal Records:
Some unpublished data may also be useful in some cases. • Diaries: Diaries are personal records and are rarely available but if you are conducting a descriptive research then they might be very useful. The Anne Franks diary is the most famous example of this. That diary contained the most accurate records of Nazi wars.

Letters: Letters like diaries are also a rich source but should be checked for their reliability before using them.

Government Records: Government records are very important for
marketing, management, humanities and social science research. • Census Data/population statistics
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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524)
• • • •

Health records Educational institutes records NGO's survey data Other private companies records

Public Sector Records:

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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

Business Research Methods (524)

Dr. Syed Hassan Raza Director / Focal Person Wafaqi Mohtasib Cell, AIOU, ISLAMABAD. (03345125050)

M. Hammad Manzoor 508195394 # 508, 5th Floor, CTC Continental Trade Centre, Block-08 08, KARACHI. (0321Clifton 584 2326) Business Research Methods 01 524

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By: M. Hammad Manzoor, MBA HRM-II, 508, 5th Floor, Continental Trade Centre (CTC), Clifton – 08, Karachi. (Roll No. 508195394)

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