Internal Assignment for September 2023 Examination

Subject: Business: Research Methodology

(Q. 1) Answer:
Introduction-
Exploratory research is used for identifying the problems in a business where no prior
information is available. In this research undertaken to gain a better understanding of a
problem or issue, to clarify or define parameters of the problem, or to refine a general idea
into a more specific research problem. Read on to learn more about exploratory research, how
to conduct it, and the research methods used to perform it.

Exploratory research is the researcher’s tool to understand an issue more thoroughly, before
attempting to quantify mass responses into statistically inferable data.

Exploratory research is research conducted to investigate a problem that is not clearly

defined, has been under-investigated, or is otherwise poorly understood. Often described as
grounded theory research, or interpretive research, the approach is not designed to derive
conclusive results, but rather to glean insights that can form the foundation of future, more
specific research. Using the revelations provided through exploratory research, you can
develop research hypotheses and questions for future investigation, and narrow down the data
that you need. For this reason, for exploratory research to be of the best use, you will need to
adopt an open mind, and be willing to change your research approach and directions
accordingly.

a. When problems are in their preliminary stages. If you haven’t yet quite gotten a
handle on a problem, or are not even sure whether an issue is worthy of detailed
research, consider an exploratory approach. For instance, if you’re unsure why a
certain product isn’t selling, you could first perform some preliminary exploratory
research into possible reasons for poor sales before conducting deeper, explanatory
research that compares the relative importance of different factors among a target
audience.
b. When the issue being investigated is new and it is difficult to gather data. Imagine
you want to conduct research on how to price a new product or service. A common
approach might be to look at how competitors are pricing comparable goods and to
use that information as a guideline. But, what if your product is brand new, innovative
and never before seen on the market? In cases like this, exploratory research can be
used as a starting point to capture insights into things like the prices that customers
might be willing to pay, or their perceptions of the value of the product.
c. To generate formal hypothesis. If you want to do some hypothesis testing, but aren’t
quite sure how to formulate your hypothesis, exploratory research can help you to
narrow your focus, by giving you preliminary insight that be used to generate
predictions and expectations.
If Nestle is launching a new product in field of ready to eat products, then there is require to
develop a research plan to identify the opportunities from market.

Nestle

Nestle SA is a Swiss multinational food and beverage conglomerate operating its business in
India under the name of Nestle India.

It first arrived in India in 1956. Since then, from selling its first milk product in the 1960s to
offering a wide range of quality products in the Indian market, Nestle has grown
exponentially in India.

It offers products in beverages, breakfast cereals, chocolates and confectionery, dairy, and
nutrition foods as well as vending and food services. Popular products such as Maggi, Kit
Kat, Polo, Milkmaid, and Nescafe fall under Nestle India’s portfolio.

Nestle should develop research plan to identify the opportunities from market as
follows.

1. Define the Problem or Opportunity-

The most important part of the marketing research process is defining the problem. In
marketing research, Nestle has to defining the problem need to solve will determine what
information need and how can get that information. This will help to clarify the overarching
problem or opportunity, such as how to best address the loss of market shares or how to
launch a new product to a specific demographic.

2. Develop Marketing Research Plan-

Nestle examined all potential causes of the problem and have used those questions to boil
down exactly what is trying to solve, it’s time to build the research plan. Research plan can
be overwhelming to create because it can include any method that will help the answer the
research problem or explore an opportunity identified in step one.

Techniques for conducting research:

a. Interview prospects and customers. Get the feedback by using this tactic because
are going straight to the source. This might take the form of a focus group or one-on-
one interviews.
b. Conduct a survey using Survey Monkey or another tool.
c. Run user tests on website or landing page(s). This is a cost-effective approach that
can provide a lot of insight and data on how customers or potential customers behave
or respond to something.

3. Collect Relevant Data and Information-

In marketing research, most of the data collect will be quantitative (numbers or data) versus
qualitative, which is descriptive and observational. Ideally, will gather a mix of the two types
of data. When collecting data, make sure it's valid and unbiased.
4. Analyse Data and Report Findings-

After gathering all of the information there is need to analyse the data. Although one piece of
information or data might jump out, it’s important to look for trends as opposed to specific
pieces of information. Sometimes, it’s important to write up a summary of the study,
including the process that followed, the results, conclusions, and what steps recommend
taking based on those results. Even if don’t need a formal marketing research report, be sure
that review the study and results so that can articulate the recommended course of action.

5. Research into Action-

After completion of research, there is time to present findings and take action. Nestle should
begin developing and campaigns. Put findings to the test and get going. The biggest takeaway
here is that, although this round of research is complete, it's not over.

The problems, business environment, and trends are constantly changing, which means that
research is never over. The trends discovered through research are evolving. Should
analysing data on a regular basis to see where can be improved.

(Q. 2) Answer:
Introduction-
A literature review surveys books, scholarly articles, and any other sources relevant to a
particular issue, area of research, or theory, and by so doing, provides a description,
summary, and critical evaluation of these works in relation to the research problem being
investigated. Literature reviews are designed to provide an overview of sources have
explored while researching a particular topic and to demonstrate to readers how research fits
within a larger field of study.

A literature review may consist of simply a summary of key sources, but in the social
sciences, a literature review usually has an organizational pattern and combines both
summary and synthesis, often within specific conceptual categories. A summary is a recap of
the important information of the source, but a synthesis is a re-organization, or a reshuffling,
of that information in a way that informs how is planning to investigate a research problem.
The analytical features of a literature review might:

 Give a new interpretation of old material or combine new with old interpretations.
 Trace the intellectual progression of the field, including major debates.
 Depending on the situation, evaluate the sources and advise the reader on the most
pertinent or relevant research.
 Usually in the conclusion of a literature review, identify where gaps exist in how a
problem has been researched to date.

Purpose of a literature review is to:

 Place each work in the context of its contribution to understanding the research
problem being studied.
  Describe the relationship of each work to the others under consideration.
 Identify new ways to interpret prior research.
 Reveal any gaps that exist in the literature.
 Resolve conflicts amongst seemingly contradictory previous studies.
 Identify areas of prior scholarship to prevent duplication of effort.
 Point the way in fulfilling a need for additional research.
 Locate your own research within the context of existing literature.

There are five key steps to writing a literature review:

1. Search for relevant literature

2. Evaluate sources
3. Identify themes, debates, and gaps
4. Outline the structure
5. Write the literature review

A good literature review doesn’t just summarize sources. It analyses, synthesizes, and
critically evaluates to give a clear picture of the state of knowledge on the subject.

Literature review on critical thinking:

The first step in understanding the Critical Thinking Movement is to uncover the essential
characteristics of critical thought and examine the commonality of agendas for the Critical
Thinking Movement. A common reason is a reflection of the shift in economic patterns away
from an industrial society into arenas in which labourers must solve complex problems.
Another reason frequently proposed is that critical thinking skills are necessary for effective
citizenship in a democracy.
Critical thinking skills involve the ability to make reasonable decisions in complex situations,
such as those found in a rapidly changing and complex society. The movement emphasizes
“knowing how” more than “knowing that”. Furthermore, helping individuals gain these
abilities, requires a self-conscious attempt on the part of educators to address
the cultivation of critical thinking by utilizing methods other than simply rote
memorization and didactic instruction.

How does Critical thinking develop:

Adults do not always employ critical thinking when it’s called for. Climate change, for
example, is a controversial topic because people are not necessarily swayed by facts, reason,
or evidence; many find personal experience more compelling than logical thought or
empirical evidence. Given this natural tendency, Halpern warns that we should not expect
dramatic improvements in critical thinking as a result of instructional interventions;
improvement, rather, likely will be slow and incremental.
How is Critical thinking measured or assessed:
Measuring critical thinking is complex. Critical thinking has elements that are both domain-
specific and generic. Critical thinking also involves cognitive skills and dispositions.
Researchers and practitioners have used two main types of instruments for assessing critical
thinking: standardized tests and performance- based assessments.

Standardized Tests
There are many standardized tests of critical thinking skills, such as the Watson-Glaser
Critical Thinking Appraisal test and California Critical Thinking Skills Test. There are also a
few for assessing critical thinking dispositions. The Reasoning Skills assessment targets the
cognitive domain of critical thinking, and the Thinking Mind-set the affective domain (both
using multiple-choice questions).
Construct underrepresentation is the inherent weakness of many standardized tests. This is
particularly relevant to critical thinking, as many of the existing measures focus on generic
critical thinking skills.

Performance-Based Assessments

High-quality performance-based assessments require students to apply (or transfer) their

knowledge and skills to novel contexts. Performance assessments involve students producing
something (e.g., report, product, experiment or demonstration), which is then evaluated
against specific criteria found in a rubric or scoring guide. Such measures are well-suited to
gather evidence of students’ level of sophistication in applying critical thinking skills and
dispositions.

Conclusion:

The purpose of this paper was to conceptualize and describe critical thinking from the
educational, philosophical, and psychological literature; synthesize research findings; and
discuss implications for assessment design and use. Overall, findings suggest critical thinking
involves both cognitive skills and dispositions. These two aspects are captured in a consensus
definition reached by a panel of leading critical thinking scholars and researchers. The
resulting Delphi Report defines critical thinking as “purposeful, self-regulatory judgment
which results in interpretation, analysis, evaluation, and inference, as well as explanation of
the evidential, conceptual, methodological, or contextual considerations upon which that
judgment is based”.

Debate continues about the extent to which critical thinking is generic or domain-specific
and, further, how critical thinking develops. That said, research suggests that even young
children demonstrate aspects of critical thinking. Empirical research also shows that critical
thinking can be taught and that there is specific instructional approaches and strategies that
promote more critical thinking. These instructional approaches include explicit teaching of
subject matter content within a course that also teaches critical thinking skills.
Instructional strategies that promote critical thinking include providing opportunities for
students to solve problems with multiple solutions, structure that allows students to respond
to open-ended questions and formulate solutions to problems, and a variety of learning
activities that allow students to choose and engage in solving authentic problems.

(Q. 3a) Answer:

Introduction-
ChatGPT:
ChatGPT is an artificial intelligence model intended for conversational purposes that has
grown in popularity in digital marketing, offering organizations a vital tool for engaging with
clients and enhancing their marketing efforts. The main objective of this research is to
investigate the impact of ChatGPT on the customer experience in digital marketing.
Additionally, the study intends to investigate the moderating impacts of business type and
technology familiarity and comfort on the customer experience. Furthermore, the research
explores the moderating roles of gender, age, and education level. The data for this study
were collected electronically from 394 clients who have interacted with ChatGPT in digital
marketing using an open-access questionnaire. The results support the significance of the
moderating role of (Familiarity and Comfort with Technology, Business Type, Age, and
Education level on the relation between customer experience with ChatGPT and overall
satisfaction with digital marketing, while Gender is not supported. This article's findings are
intended to contribute to the current literature on the use of conversational AI models in
digital marketing and customer experience, providing insights and recommendations for
future research.

ChatGPT is an artificial intelligence model intended for conversational purposes that has
grown in popularity in digital marketing, offering organizations a vital tool for engaging with
clients and enhancing their marketing efforts. The main objective of this research is to
investigate the impact of ChatGPT on the customer experience in digital marketing.
Additionally, the study intends to investigate the moderating impacts of business type and
technology familiarity and comfort on the customer experience. Furthermore, the research
explores the moderating roles of gender, age, and education level. The data for this study
were collected electronically from 394 clients who have interacted with ChatGPT in digital
marketing using an open-access questionnaire. The results support the significance of the
moderating role of (Familiarity and Comfort with Technology, Business Type, Age, and
Education level on the relation between customer experience with ChatGPT and overall
satisfaction with digital marketing, while Gender is not supported. This article's findings are
intended to contribute to the current literature on the use of conversational AI models in
digital marketing and customer experience, providing insights and recommendations for
future research.

A survey questionnaire will be used to obtain data from a sample of consumers who have
engaged with chatbots in digital marketing as part of the study's quantitative research
approach. To test the proposed hypotheses and investigate the moderating effects of
Familiarity and comfort with technology and the kind of company, the data will be examined
using moderated regression analysis. The study's findings will help researchers get a better
understanding of the aspects that drive customer experience in digital marketing, as well as
insights into how organizations may employ chatbots to improve customer satisfaction. The
research will also have an impact on the design and deployment of chatbots in digital
marketing since it will give advice on how to customize chatbots for different types of
organizations.

The current study seeks to answer the following research questions which are summarized as
follows.

 How does ChatGPT affect the customer experience in digital marketing?

 In digital marketing, how does familiarity and comfort with technology affect the link
between perceived personalization, perceived relevance, perceived accuracy, and
perceived convenience, as well as overall satisfaction with ChatGPT among
customers?
 How does business type influence the link between perceived personalization,
perceived relevance, perceived correctness, perceived convenience, and overall
customer satisfaction?
 Is demographic information (gender, age, and education level) influencing total
consumer satisfaction?

Measuring customer experience and satisfaction

This subsection focuses on the literature review about three main axes; defining of overall
customer satisfaction and customer experience, how customer experience benefited from
ChatGPT, and how can overall customer satisfaction and customer experience be measured in
current study about ChatGPT in digital marketing?

Overall customer satisfaction means a measure of how well a company's products, services,
and overall customer experience meet customer expectations, while customers' experience is
defined as the total image and perception of a brand based on the interactions across their full
journey of usage. It is essential for increasing client loyalty and repeat dealing

According to literature, chatbots may deliver a variety of benefits in terms of improving the
customer experience in digital marketing. Chatbots can boost customer engagement by
offering rapid support and reducing response times by eliminating the need for consumers to
wait for a human agent to respond. It can assist clients in identifying the items or services that
best fit their requirements by making tailored suggestions, enhancing customer satisfaction.
ChatGPT can be used to improve chatbots in several ways. For example, it can be used to
generate more natural and engaging conversation, to provide more accurate and informative
answers to questions, and to create more personalized marketing messages. As chatbots
become more sophisticated, ChatGPT is likely to play an increasingly important role in
improving the customer experience in digital marketing.

(Q. 3b) Answer:

Introduction-
ChatGPT is one of most talked topics these days. It is an application of Generative AI trained
by OpenAI, using the GPT (Generative Pre-Training Transformer) architecture. It can
generate human-like text based on a given prompt or context. It can be used for a variety of
natural language processing tasks, such as language translation, question answering, and text
summarization.
While it is a powerful tool for natural language processing, there are several limitations that
users should be aware of. In this blog, we will be highlighting seven areas that ChatGPT can
improve upon.
5 key areas where ChatGPT can improve-

a. Search latest information on the internet

ChatGPT is one of most talked topics these days. It is an application of Generative AI trained
by OpenAI, using the GPT (Generative Pre-Training Transformer) architecture. It can
generate human-like text based on a given prompt or context. It can be used for a variety of
natural language processing tasks, such as language translation, question answering, and text
summarization.
While it is a powerful tool for natural language processing, there are several limitations that
users should be aware of. In this blog, we will be highlighting seven areas that ChatGPT can
improve upon.
As it is not connected to the internet hence it cannot take any actions on your behalf, unlike
Alexa or Google Assistant which can book an appointment for you.

b. Credible source of information

ChatGPT has faced criticism for its sometimes incorrect or non-meaningful outputs. This can
be particularly evident when it comes to quoting facts and numbers, which undermines the
credibility and authority of its responses. ChatGPT’s output still require additional validation
in order to ensure the accuracy.

c. Enhance non-English languages

Natural language generation by ChatGPT is far better in English than in other languages.
When asked to write a poem in both Hindi and English, the output in English was
significantly better than that in Hindi. Despite ChatGPT’s claim to be a general language
model, not specific to any language, it seems that there are more improvements required in
future releases.

d. Provide personalized relative answers

ChatGPT has been designed to not provide personalized information. This is a constraint that
has reportedly been imposed on the model by its creators, and it has both positive and
negative aspects. On the positive side, this constraint can help prevent the model from
providing potentially harmful or misleading information, such as ranking hospitals without
adequate knowledge or expertise. However, on the negative side, it may also limit the
model’s ability to provide useful and relevant information to users who are looking for
comparisons or rankings.

e. Provide information on anything after 2021

This happens because it does not know of any event which happened after 2021 and it cannot
update itself by going online.

Conclusion

Despite all its limitations, ChatGPT remains a major step forward for OpenAI and a
promising development in the field of language modelling. The team at OpenAI has put a lot
of work into ChatGPT and it shows in the results. However, it is important for users to be
aware of its limitations and know the new advancements that may be coming in future.
Overall, ChatGPT is a welcome addition to the world of artificial intelligence and one that is
sure to continue improving as it is further developed and refined.