1/7/2020

Business Research Method

Session-1

XLRI- Xavier School of Management, Jamshedpur

Course Outline: Brief

• Functional Knowledge
– Quizzes : 30%
– Class Participation/Assignment : 10%
– Group Project : 30%
– End Term : 30%
Note:
– Class Participation will be assessed by the instructor(s) based on class
preparation, meaningful participation, sincerity, discipline, regular
attendance, and general behavior in the class. Disruptive attendance and
indiscipline related to course will be penalized.

– Group Project: Group of 6 members shall work on a topic. Project submission

guidelines & submission dates will be communicated later.

• Grading will be as per institute norms.

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Class Conduct: Guideline

• Discipline in the class will be guided by student manual of the institute.
• Use of mobile phone is not allowed in the class. Please respect others in
the class by turning off mobile phones & other electronic devices.
• Request you to refrain from class disturbing activities (e.g., Late arrivals
to class, cross-talking, movements during the class or any other
disturbing activity).
• Please attend your BRM session only as per your sections (Pls don't
attend BRM session of other section).
– However, if your situation is compelling (other than medical), you may attend BRM
session with other section, only after mail-based permission with 'NO attendance for
that class'. Medical issue will be treated differently.

Discussion

Can you share any example of research?

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I don’t know if we
should change the
package of Colgate
toothpaste?

Discussion

Why should we conduct research?

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Research…

Provides information
to guide decisions

Research…

Reduces risk in
decision making

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Research: Different Terms

• Business Research Method
• Social Research Method
• Market Research
• Social Science Research

Discussion

What is Research?

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Defining Research…
• Systematic investigation into and study of materials &
sources in order to establish facts & reach new conclusions
(Oxford dictionary).

• A studious inquiry or examination (Merriam-Webster Online Dictionary).

• Systematic and objective process of gathering, recording,

and analyzing data for aid in making business decisions
(Zikmund, 2007).

• Systematic enquiry that provides information to guide

managerial decisions (Cooper & Schindler, 2009).

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Defining Research
• Research is the systematic & objective
– Identification (of information)
– Collection (of information)
– Analysis (of information)
– Dissemination (of information) &
– Use of information
• for improving decision making related to…
– Identification and Solution of problems & opportunities
in business

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Defining Research

Used to identify & define

opportunities and problems

Generate, refine, & evaluate

Information (managerial) actions

Monitor performance (of firm or

any other entity)

Improve understanding of process

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Summary of pointers about Research

• Research is all about finding something, absence of which may
distort our ability to take informed decisions.

• Ability to take an informed decision is generated through a

systematic study that is conducted through various interrelated
stages.

• All steps of research process are information-centric.

• All steps in a research are interrelated & no independent activity

is launched without considering decisions on previous stages.

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Research Suppliers & Services

RESEARCH
SUPPLIERS
INTERNAL
EXTERNAL

FULL SERVICE LIMITED SERVICE

Field Other
Internet
Services Services
Services

Syndicate Customized
Services Focus Groups & Technical &
Services
Qualitative Analytical
Services Services

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Research Classification

Discussion:

How can we classify Research?

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A Classification of Research

Research

Problem Identification Problem Solving

Research Research

To help identify problems

which are not necessarily
apparent on the surface & yet To help solve specific
exist or are likely to arise in problems.
the future

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Research Classification: Discussion

• Research on
– Market Potential Research; Market Share Research; Market
Characteristics Research; Sales Analysis Research; Forecasting
Research; Business Trends Research

• Should McDonalds add Italian pasta dinners to its menu?

– To assess preference for Italian pasta dinners among TG.

• Should P&G add a high-priced less-foam based detergent

powder kit to its product line?
– To identify/assess customer preference for less-foam based
detergent powder.

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Research Classification: Discussion

• Why SBI’s market share of educational loan is decreasing in
recent years and What steps can be done to improve market
share?
– To identify factors influencing educational loan buying
– To assess SBI’s performance on criteria of educational loan purchase
– To identify methods of improving those parameter.

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Steps involved in Research

Discussion

What can be broad steps of Research?

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