Business Research Process

Business Research Process

• Step 1: Problem or opportunity identification

• Step 2: Decision maker and business researcher meeting to discuss the problem and
opportunity dimensions

• Step 3: Defining the management problem and subsequently. the research problem

• Step 4: Formal research proposal and introducing the dimensions to the problem
•
Step 5: Approaches to research
• Step 6: Fieldwork and data collection
• Step 7: Data preparation and data entry
• Step 8: Performing data analysis.
• Step 9: Interpretation of result and presentation of findings
• Step 10: Management decision and its implementation
Problem or Opportunity Identification
• First step
• Problem, opportunity, identification
• Discovery before definition
• Problem means management problem
Step 2 Decision maker and business researcher meeting to
discuss the problem and opportunity dimensions

• The researcher can only suggest solution to a problem but the actual
decision is taken by the decision maker
Step 3: Defining the management problem and subsequently. the
research problem

• The management problem is concerned with the decision maker and

is action oriented in nature.
• For example management problem offers a psychological pricing to
enhance the quantum of sales. This management problem focuses on
the symptoms.
• Research problem is information oriented and focuses mainly on the
causes and not on the symptoms. This is to determine consumer’s
opinion on psychological pricing and to estimate their purchase
behavior for the same.
Step 4: Formal research proposal and introducing the dimensions to
the problem

• Prepare a formal proposal of the research and develops the approaches

to the research problem.
• The first part is to develop a theoretical model on the basis of literature
review.
• In second part researcher develops hypotheses.
 Brand
Image
Age
Brand
Awareness

Buying
Gender
Price Intention

Availability Income

After sale
service
• Hypotheses 1: "Brand image" has a significant liner impact on the buying
intention.
• Hypothesis 2: "Brand awareness" has a significant liner impact on the buying
• Hypothesis 3: "Price" has a significant liner impact on the buying intention.
Hypothesis 4: "Availability" has a significant liner impact on the buying intention.
Hypothesis 5: "After-sales services" has a significant liner impact on the buying
• Definitely, these hypotheses will be statistically tested through a simple regression
model in which each of these will be considered as the independent variable and
the buying intention will be considered as the dependent variable.
• H0 Brand Image has no significant impact on BI
• NULL ZERO
• ALTERNATE H1
• The researcher can also test the combined impact of these five
variables on the buying intention. The proposed multiple regression
model will be Buying intention = b + b, (Brand Image (BI)) + b₂
(Brand Awareness (BA)) + b₂ (price) + b, (availability) + b, (after-
sales).
• The corresponding hypothesis may be constructed as follows:
• Hypothesis 6: All the five factors in combination have a significant
linear impact on the buying intention.
Step 5: Approaches to research

• This step consists of making a suitable decision regarding research

components like types of research, measurement and scaling,
development of questionnaire, sample size determined , sampling
techniques and data analysis plan
Step 6: Fieldwork and data collection

• In next step fieldwork and data collection activities are planned. An

analysis of secondary data source is also executed.It is useful in
presenting findings also. Primary data can be collected through
following methods:
1. Survey
2. Observation
3. Experimentation
4. Qualitative Techniques
5. Other specialized Techniques
Survey

• The survey method of obtaining information is based on the

questioning of respondents. Respondents are asked a variety of
questions regarding their behavior, intentions, attitudes, awareness,
motivations, and demographic and lifestyle characteristics. These
questions may be asked verbally, in writing, or via computer, and the
responses may be obtained in any of these forms. Typically, the
questioning is structured.
• In structured data collection, a formal questionnaire is prepared and
the questions are asked in a prearranged order
• Methods of survey- by telephone, by mail,in person.
Observation
• Observation methods are the second type of methodology used in
descriptive research.
• Observation involves recording the behavioral patterns of people,
objects, and events in a systematic manner to obtain information about
the phenomenon of interest. The observer does not question or
communicate with the people being observed.
• Information may be recorded as the events occur or from records of
past events. Observational methods may be structured or unstructured,
direct or indirect. Furthermore, observation may be conducted in a
natural or contrived environment.
Experimentation

• This is the third major technique in quantitative research. This

involves more control over the cause and effect, when compared to a
survey.
• In experiments, we try to measure the effect of one or more variables
by changing the level of some variables, and measuring the effects.
For example, if an advertisement is released, and we measured the
brand awareness of the advertised brand among a sample of target
respondents, we would be doing an experiment.
Qualitative Techniques
• An unstructured, exploratory research methodology based on small
samples that provides insights and understanding of the problem
setting,
• It is a sound principle of marketing research to view qualitative and
quantitative research as complementary, rather than in competition
with each other.
• Consultants Association (www.qrca.org), which is the largest body of
independent qualitative research consultants in the world.
In computer-assisted telephone
interviewing, the computer
systematically guides the
interviewer.
Step 7 Data Preparation and Entry
• After fieldwork, the collected data are in raw format. Before
performing data analysis, it is important for a researcher to structure
the data. There is a specific scientific procedure to deal with the
missing data and other problems related to the data collection process.
• After preparing the data, a researcher has to feed it into a computer
spreadsheet in a pre-determined manner to execute the data analysis
exercise. Preparing this data matrix through the spreadsheet is also a
scientific exercise and requires a lot of expertise and experience.
Step 8 Data Analysis
• It includes univariate, bivariate and multivariate statistical analysis.
• Hypothesis testing also conducted in this stage.
Stage 9 Interpretation of result and
presentation of findings
• There is need to interpret the result and present the non-statistical
findings derived from the statistical result.
Step 10 Management Decision and its
Implementation
• As the last step of conducting a research programmed, the findings are
conveyed to the decision maker after consultation with the research
programmer. The decision maker analyze the findings and takes an
appropriate decision in the light of statistical findings presented by the
researcher.