BUSINESS RESEARCH

METHODS
M Qasim Ali
Research v/s Search
 Search means a new way of find out a new thing
but research process we search again and again on
old thing for find out new thing.
 Search means to find out something lost or to
explore something while research is the scientific
or close study of something
 Search is not systematic while Research is
systematic.
 Introduction to Research

What is research?

 Research is the process of finding

solutions to a problem after a
thorough study and analysis of the
situational factors.
What is business research?
 Research provides the needed information that
guides managers to make informed decisions
to successfully deal with problems.
 The information provided could be the result

of a careful analysis of data gathered firsthand

or of data that are already available (in the
company).
Business Research
Used to identify and
define market
opportunities and
problems
Generate, refine, and
evaluate marketing
performance
Monitor marketing
performance

Improve understanding
of marketing as a
process
Definition of Business Research
Marketing research is the systematic and objective

 identification
 collection
 analysis
 dissemination
 and use of information

for the purpose of improving decision making related to the

 identification and
 solution of problems and opportunities in marketing.
Market Research

 Specifies the information necessary to address these

issues
 Manages and implements the data collection process
 Analyzes the results
 Communicates the findings and their implications
The scientific method
 Using knowledge and evidence to reach objective
conclusion about the real world.

Prior
Observation
Knowledge

Hypothesi
s

Hypothesi
s test

Conclusio
n
Scientific Investigation
 1 Observation
 2 Identification of problem area
 3 Theoretical framework
 4 Hypotheses
 5 Research design
 6 Data collection
 7 Data analysis
 8 Data interpretation
 9 Implementation
Managerial value of Business Research

 Product oriented firm

 Emphasis the product design, trendiness and technical
superiority ( Fashion Industry)
“Research focuses on technicians and expert in the
field”
 Production oriented firm
 Prioritize efficiency and effectiveness of the
production process in making decision.
 E.g. U.S Auto industry assembly line process
 “research focuses on line employees, engineers, accountants
and other efficiency expert”
 Marketing oriented firm
 Focuses on how firm provides value to customers.
 Well known hotel chains
Research Methods v/s Research Methodology

 Research Methods usually refers to specific

activities designed to generate data (e.g.
Questionnaire, interviews and focus group)

 Research Methodology is more about your attitude

to and understanding of research and the strategy
you use to answer research question.
Types of Business research.

 1.Applied research
 Is to solve a current problem faced by the manager
in the work setting,demanding a timely solution.
 2.Basic research (fundamental, pure)
 Is to generate a body of knowledge by trying to
comprehend how certain problems that occur in
organizations can be solved.
 The findings of such research contribute to the
building of knowledge in the various functional
areas of business.
Why is it important for managers to know about research?

 Solve problems
 Decision making tool

 Competition

 Risk

 Investment

 Hire researchers and consultants more

effectively
Classification of Marketing Research

Problem Identification Research

 Research undertaken to help identify problems which
are not necessarily apparent on the surface and yet
exist or are likely to arise in the future. Examples:
market potential, market share, image, market
characteristics, sales analysis, forecasting, and trends
research.

Problem Solving Research

 Research undertaken to help solve specific marketing
problems. Examples: segmentation, product, pricing,
promotion, and distribution research.
 A Classification of Marketing Research
Marketing Research

Problem Problem Solving

Identification Research Research

Market Potential Research

Market Share Research
Market Characteristics Research
Sales Analysis Research
Forecasting Research
Business Trends Research
Segmentation Research
Product Research
Promotion Research
Distribution Research
 Problem Solving Research
SEGMENTATION RESEARCH

 Determine the basis of segmentation

 Establish market potential and
responsiveness for various
segments
 Select target markets
 Create lifestyle profiles:
demography, media, and
product image characteristics
PRODUCT RESEARCH
 Test concept
 Determine optimal product design
 Package tests
 Product modification
 Brand positioning and
repositioning
 Test marketing
 Control score tests
 Problem Solving Research
0.00% APR
PROMOTIONAL RESEARCH
 Optimal promotional budget
 Sales promotion relationship
 Optimal promotional mix
 Copy decisions
 Media decisions
 Creative advertising testing
PRICING RESEARCH  Evaluation of advertising effectiveness
 Pricing policies  Claim substantiation
 Importance of price in brand selection
 Product line pricing
 Price elasticity of demand $ALE
 Initiating and responding to price changes
 Problem Solving Research
DISTRIBUTION RESEARCH

Determine…
 Types of distribution
 Attitudes of channel members
 Intensity of wholesale & resale coverage
 Channel margins
 Location of retail and wholesale outlets
The Role of Marketing Research
Fig 1.2 Customer Groups
• Consumers
• Employees
• Shareholders
• Suppliers
Uncontrollable
Controllable Environmental
Marketing Factors
Variables
Marketing •Economy
•Product
Research •Technology
•Pricing
•Laws &
•Promotion Regulations
•Distribution •Social & Cultural
Factors
Assessing Providing Marketing
•Political Factors
Information Information Decision
Needs Making

Marketing Managers
• Market Segmentation
• Target Market Selection
• Marketing Programs
• Performance & Control