Research Methodology Assignment

1. Identify the management decision problem. What type of research will it be, Inductive or
deductive? State your reasons.

Solution

Management Decision Problem:

The management decision problem for Nikhil Tareja was to evaluate all the possibilities,
profits, and merits of putting his money in building the luxurious and desirable housing
for Senior Citizens who like to live a simple lifestyle in their old age.

Type of Research:

The type of research that should be conducted here is deductive research because the
research is associated with only one type people i.e., old people that have
retired. The population is very niche and by conducting the research survey among
all the old, aged people, Nikhil Tareja could get an answer to question, whether
there is a viable business opportunity for luxury retirement home business for the
seniors.

2. Identify the research problem. What will be the steps to undertake this research?

Solution

Research Problem:

As Longer life expectancy, better financial preparedness, and a positive and confident
mindset make seniors an attractive market, the main research problem here arises that
how much the senior citizens would be willing to live this type of lavish lifestyle.

Step-by-step process for research:

a. Identify the problem

b. Define the research problem
c. Define a research approach (for locating information)
d. Design a research design
e. Evaluate and analyze information (Primary vs Secondary research)
f. Write, organize, and communicate information (through PPTs, reports…)
g. Cite Sources
3. What will be the variables involved? State one Descriptive hypothesis and one relational
hypothesis.

Solution

Variables Involved:

Special provisions in terms of medical support, food and utility payment support, entertainment
facilities and recreation facilities of the seniors.

Descriptive Hypotheses:

Of the seniors from all 3 categories, Thareja Builders were focusing on the first category seniors
that are in a good financial condition and want to spend their money to manage their life and
live a lavish lifestyle on their own.

Relational Hypotheses:

After reading and evaluating case study we can conclude that there is a relation between the
financial condition of the seniors that were divided into 3 categories according to their needs for
their comfort and wellbeing.

4. What research design would you suggest for this research? Justify your answer.

Solution

I would suggest an exploratory design for the management decision problem as the problem is new
to Nikhil and exploratory research is often used when the issue, we are studying is new or when the
data collection process is challenging for some reason, for this case study Nikhil’s grandfather has
asked him to do some market research on the Luxury- Retirement solutions, can they be an
attractive business opportunity with senior population.

Exploratory research would be very helpful here as it formulates a greater understanding and
satisfies the researcher uncovers facts and brings new issues to light.

If the data is not available with the researcher, here are some data collection tools that can help
him/her find the desired data for his/her research.

1. Customer Surveys
2. Group Interviews
3. Poll
4. One on one interaction with the people