Business ReseachAn Introduction The task of business research is to generate accurate information for use in decision making.

The emphasis of business research is on shifting decision makers from intuitive information gathering to systematic and objective investigation. It is used either to understand the market trends, or find the optimal marketing mix, devise effective HR policies or find the best investment options. DEFINITION Business research is defined as the systematic and objective process of gathering, recording, and analyzing data that provides information to guide business decisions. This definition suggests, First that research information is neither intuitive nor haphazardly gathered. It include patient study and scientific investigation. Second if the information generated or data collected and analyzed are to be accurate, the business research must be objective i.e. The role of the researcher is to detached and impersonal rather than engaging in a biased attempt to prove preconceived ideas. If bias enters the research process, the value of the data is considerably reduced. Third the above definition of business researh points out that its objective is to facilitate the managerial decision-making process for all aspects of a business: finance, marketing, personnel, and so on. It is an essential tool for management in its problem-solving and decision making activities, business research generates and providing the necessary quantitative or qualitative information upon which to base decisions. By reducing the uncertainty of decisions, research reduces the risk of making worng decisions. Scope of business research Business research is used to solve the various operational and planning problems that arise in a business organization. The three major forms of business research are 1) Market research 2) Operations research 3) Motivational research

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 Market research aims at understanding and examining the market place in which the company operates. This helps the organization device effective business polices and marketing strategies Operations research involves use of mathematical, logical, and analytical methods to find the optimal solutions to business problems. Operations research is primarily using for forecasting demand, optimizing production, and finding the investment options. Motivational research analyzing the reasons and motives behind people behavior. This is used to understand the customer behavior and employees behavior. Basic research and Applied research Business research is considered either to expand knowledge about a particular aspect or to find a solution to a particular problem. Business research studies can be classified into two categories. 1. Basic research 2. Applied research
Basic Research Basic research refers to a focused, systematic study or investigation undertaken to discover new knowledge or interpretations and establish facts or principles in a particular field. In other words it is a research aimed primarily at gaining knowledge rather than solving a pragmatic problem. In this mainly discussing about the knowledge about particular phenomenon by testing, refining and elaborating theory without concern for practical application. Examples: Understanding the consumer buying process. Examining the consumer learning processes.

Applied research This refers to investigation undertaken to discover the applications and uses of theories, knowledge, and principles in actual work or in solving problems. In other words, it is any research which is used to answer a specific question, determine why something failed or succeed, solve a specific, pragmatic problem, or to gain better understanding. Examples Evaluating the impact of a training program on employee performance

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Examining consumer response to direct marketing programs.

The purpose of the two research forms varies; there is not much difference in the research methods and tools used for their conduct. Both the research forms use scientific methods in various stages of the research process. The scientific method refers to a systematic approach towards observing phenomena, drawing conclusions, and the testing of hypotheses. The basic research, first the hypothesis is tested through experimentation and observation. Then the logical interpretations and conclusions are made about that phenomenon. The applied research involves developing alternatives to a particular problem and finding the best alternative among them. Role of business research in decision-making For effective planning and implementation of business decisions, accurate information about the internal business environment and the external business environment is of a primary importance. The business decision making process in an organization goes through these key interrelated stages. They are Problem/opportunity identification Problem/opportunity prioritization and selection Problem/opportunity resolution Implementing the course action

Problem/opportunity identification Problem/opportunity identification involves scanning and monitoring the internal and external business environment. Such an analysis helps identifying opportunities and threats that a company is facing and also in understanding the market trends. Example An Indian apparel company that wants to enter the US market can undertake business research in areas, such as identifying the fashion trend in the market, determining the brand awareness about the company among the potential employees, examining the competitors and their characteristics, and understanding American consumer behavior. Problem/opportunity prioritization and selection This stage the focus would be on prioritizing the problems and opportunities. Prioritization of the problems is based two factors- the influence of problem on the business operations and the time factor. For example if an organization has identified a particular problem. If the organization has identified an opportunity is gathered. Such an analysis provides greater clarity about the opportunity is gathered. Such an analysis provides greater clarity about the situation. Business 3|Page

research at this stage is used to aid the organization to prioritize the problems and identify the opportunities. Problem/opportunity resolution In this step is to decide on the way to resolve the problem make use of the opportunity. Two steps are involved in problem resolution. Developing alternatives Evaluating the alternatives

These alternatives are evaluated to select the best opportunities. The alternatives are evaluated on the basis of certain criteria. The application of business research at this stage is mainly to help the organization in evaluating the alternatives. For example A consumer electronics company that wanted to launch a new television model was faced with a dilemma regarding the advantage strategy is should adopt, as its marketing staff had suggested three different advertising programs. To evaluate the advertising programs the company undertook a consumer-jury test where target customers were invited to a particular location and three alternative advertising programs were shown to them. They were asked to rate those advertisements on various parameters likeability, memorability, attentiveness, and believability. Based on the results of the test, the company finalized among the three advertising programs. Another way in which business research aids in evaluating the alternative options through business forecasting. For example a company has three different investment options from among which it has to choose the best option. By forecasting the revenue potential of each investment option, the company can select the investment option, which has the highest revenue potential. Implementing the course action After deciding upon the best course of action, the organization has to effectively implement it. At this stage, business research is mainly used to monitor and control the programs that are being implemented. Evaluate research studies are under taken at this stage. One type evaluative research study used is performance research. In this type research, the performance of a particular activity is measured, so that can be compared with the objectives set for that activity. For example, if a company has offered a discount coupon scheme in the market, the coupon redemption rate at the end of the scheme is measured and compared with the objectives that were set for this scheme. This helps in evaluating the performance of the scheme. Companys also monitoring the performance of a particular activity continuously so as to identify the opportunities and detect the problems at an early stage. This helps a company in altering the plans or developing new programs. 4|Page

Factors effecting business research The major factors affecting the business research are Time constraint Availability of resources Nature of information sought Benefits versus cost

Time constraint Time constraint is a key factor that influences a companys decision regarding whether to conduct a business research study or not. In certain cases lack of time company to take decisions without making any research study. For example P&G drastically cut the prices of its detergents in India in May 2004. HUL responded to the price cuts without making any study on the implications of the price cuts on its product sales or image. Availability of resources Lack of financial resources may lead to improper conduct of a business research study. The results obtained from such research, in turn will be inaccurate. Lack of financial resources forces a company to compromise on the way of its research project undertaken, such as taking a smaller sample size where the project demands a larger sample size, using cheaper methods to use data collection and even compromising on the data analysis process whish is crucial for any business research study. So the company should have proper plan before going to conduct the business research. Nature of information sought The information or input that wants to obtain from the research study also influences the decision whether to conduct the business research study or not. If the information that a company wants to obtain from the research study can be obtained from the internal records of the company, or from prior studies conducted by the company, then conducting business research is waste of time effort. Benefits versus cost Ever manager has to make a cost-benefit analysis before taking a decision regarding the conduct of a business research study.

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Determining when Business Research should be conducted: Time constraints Availability of resources Information need (information) Is sufficient time available before a managerial decision must be made? Is the information already on hand inadequate for making the decision? to be sought Is the decision of considerable strategic or tactical importance? Does the value of the research information exceed the cost of conducting research? Benefits vs cost

Yes

Yes

Yes

Yes

Conduct Business Research

No

No

No

No

Business Research Not Be Conducted

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Business Research Process:

The steps in the research process, namely, identification and definition of the problem or opportunity, planning the research design, selecting a research method, selecting a sampling procedure, data collection, evaluating the data and finally preparing and presenting the research report.

Steps in the Research Process

Identifying and defining problem/ opportunity

Planning the Research Design

Selecting a Research Method

Selecting a sampling procedure Data Collection Evaluating the data Preparing and presenting the research report
Identifying and Defining the Problem/OpportunityThe initial step in the research process is the identification of the problem or opportunity. A highly volatile environment governed by various macro environmental factors they need to constantly asses their relative position and identify the various problem areas or opportunities they need to work upon in order to sustain themselves competitively in the market. The managers need to analyze the changing dynamics of business, and to evolve a strategy to adopt to the changes taking place in the external environment. Whether these or opportunities, it is very important for the manager to identify them accurately and at the earliest. Components of Research Problem: There must be an individual or a goup that has some difficulty or problem.

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There must be some objectives to be attained. If one wants nothing, one cannot have a problem. There must be alternative means (or courses of action) for obtaining the objectives. This means that there must be at least two means available to a researcher; for if he has no choice of means, he cannot have a problem. There must be some environment to which the difficulty pertains. There must be some doubt in the mind of a researcher as to the selection of alternatives. This means that research must answer the quesion concerning the relative efficiency of possible alternatives.

Sources of Problem: Reading Academic experience Daily experience Exposure to field situations Consultations Brainstorming Research Intuition

Although the problem is identified in a broader perspective, it needs to be defined specifically in terms of what is to be researched. It is important to define the problem in a precise manner. A well defined problem gives the researcher a proper direction for carrying out investigation. It also helps in utilizing the resources provided for the research effectively.

The process of Problem Defining

Ascertain the decision makers objective Understand the background of the problem Isolate and identify the problem, not the symptoms. Determine the unit of analysis.

State the research questions and research objectives

Determine the relevant variables.

A researcher can focus his efforts on collecting relevant information, if the problem is defined properly.

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Some research problems such as conducting a survey on the newspaper reading habits of a given set of the population can be clearly defined. But if a company wants to define a research problem such as declining sales, it needs to explore the research problem further through exploratory research.

Exploratory Research Exploratory research aims at understanding the topic being researched. Through exploratory research, one arrives at a set of questions that are to be answered in order to solve the problem or cash in on an opportunity. Exploratory research is undertaken in the initial stages of the research process. It is an informal process that helps in defining the identified problem. This process involves evaluating the existing studies on related topics, discussing the problem with experts, analyzing the situation and so on. At the end of this process the researchers should be clear about what type of information needs to be gathered and how the research process should proceed.

Once the research problem is identified and clearly defined, a formal statement containing the research objectives must be developed.
Preparing the statement of research objectives The objectives of the research should be stated in a formal research statement. The statement of objectives should be as precise as possible. Objectives act as guidelines for various steps in the research process and therefore they have to be developed by analyzing the purpose of the research thoroughly. The objectives of the research must be brief and specific; it is preferable to limit the number of objectives. The research objectives comprise the research questions and the hypothesis. If the objective of research is to study the perceptions of the customer a typical research question could be Do the customers perceive the radiations from their cell phones to be hazardous to health?. Once the objectives and the research questions are identified, a researcher has to develop a hypothesis statement that reflects these research objectives. Developing the hypothesis A hypothesis is a statement based on some presumptions about the existence of a relationship between two or more variables that can be through empirical data. When a researcher is developing a hypothesis, he/she will try to assume an answer for a particular research question and then test it for its validity. With statistical techniques we are able to decide whether or not our theoretical hypotheses are confirmed by the empirical evidence.

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A hypothesis normally makes the research question clearer to the researcher. The formulation of a hypothesis allows the researcher to make a presumption are guess and can thus ensure that all the relevant aspects of the research design. Why the sales of refrigerators are going up in winter? In this case the hypothesis could be the sales of refrigerators are going up during winter due to off-season discounts. This makes the research question much clearer. Feedback Specific objective-1 Broad research objectives

Statement of problem

Specific objective-2

Research design

Result

Exploratory research (optional)

Specific objective-3

The Null Hypothesis and the Alternative Hypothesis Statistical hypotheses are generally stated in a null form. A null hypothesis is a statement about a status quo. It is conservative statement that communicates the notion that any ahange from what has been thought to be true or observed in the past will be due entirely to random error. The true purpose of setting up the null hypothesis is to provide an opportunity to nullify it. And the alternative hypothesis is a statement indicating then opposite of the null hypothesis. For example, suppose academic researchers expected that highly dogmatic individuals will be less likely to try an innovative management technique than less dogmatic individuals. For this the null hypothesis will be there is no difference between high dogmatics and low dogmatics in their willingness to try an innovation. And the alternative hypothesis would be that there is a difference between high and low dogmatics. Types of HypothesesHypotheses can classified in several ways. Using function as a reference, hypotheses can be divided into two: (a) Descriptive and (b) Relational. Another approach is to classify them into (c) Working, (d) Null and (e) Statistical hypotheses. The third approach is to classify them according to the level of abstraction. There are three broad levels: (i) Simple description, (ii) Logical derivation, and (iii) Abstraction. Accordingly, there are three types of hypotheses: (f) Common-sense, (g) Complex and (h) Analytical.

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(a) Descriptive hypotheses: These are propositions that describe the characteristics such as size, form or distribution of a variable. The variable may be an object, person, organisation or event. For example, the rate of unemployment among arts graduates is higher than that of commerce graduates. (b) Relational hypotheses: These are propositions that describe the relationship between two variables. The relationship suggested may have a positive or negative correlation or a causal relationship. For example, families with higher incomes spend more for recreation. (c) Working hypotheses: Hypotheses are formed while planning the study of a problem. Initially they may not be very specific. In such cases, they are referred to as working hypotheses. Which are subject to modification as the investigation proceeds. (d) Null hypotheses: As described above. (e) Statistical hypotheses: These are statement about a statistical population, and are derived from a sample. They are quantitative in nature in that they are numerically measurable, e.g., Group A is older than Group B. Statistical hypotheses may be hypotheses of difference or hypotheses of association. The latter specify the relations between variables. This association is measured by the coefficient of correlation. (f) Common-sense hypotheses: These represent common-sense ideas. They state the existence of empirical uniformities perceived through day-to-day observations. Much empirical uniformity may be observed in business establishments, tthe social background of workers, and the behaviour patterns of specific groups like students. (g) Complex hypotheses: These aim at testing the existence of logically derived relationships between empirical uniformities. For example, in the early stages of human evolution, empirical uniformities were described in the distribution of land values, industrial concentrations, types of business and other phenomena. Futher study and logical analysis of these and other related findings led to the formulation of complex hypotheses such as concentric growth circles characterise a city, members of minority groups suffer from oppression psychosis, etc. Such hypotheses are purposeful distortions of emmpirical exactness. The function of such hypotheses is to create tools and problems for further research in otherwise very complex areas of investigation. (h) Analytical hypotheses: These are concerned with relationships between analytic variables. These hypotheses occur at the highest level of abstraction. These specify the relationship between a change in one variable and change in another. For example, the study of human fertility might show empirical connections to wealth, education, region and religion. If these were raised to the level of ideal type formulation, one hypothesis could be: there are two high-fertility ppopulation segments in India low-income urban Muslims and low-income rural low-caste Hindus. At a still higher level of abstraction, the effects of region, education and religin on fertility might be held constant. This would allow better measurement of the relationship between the variables of wealth and fertility. This level of hypothesizing is the most sophisticated mode of formulation and contributes to the development of brilliant abstract theories. Sources of Hypotheses: Hypothese s can be derived from various sources11 | P a g e

(a) Theory: For example, profit maximization is considered the goal of private enterprises. Various hypotheses derived from this assumption, like The rate of return on capital employed is an index of business success. (b) Observation: Hypothesis can be derived from observation. From observing price behaviour in a market . (c) Analogies: For example, the hypothesis that Similar human types or activities may be found in similar geophysical regions came from studying plant ecology. (d) Intuition and personal experience: The of Newton and the falling apple illustrate these individual accidental processes. (e) Findings of studies: Hypotheses can be developed from the findings of other studies in order to replicate and test. (f) State of knowledge: An important source of hypotheses is the state of knowledge in any particular science. (g) Culture: Another source of hypotheses is the culture in which the researcher has deen nurtured. (h) Continuity of research: The continuity of research in a field itself constituties an important source of hypotheses. The rejection of some hypotheses leads to the formulation of new ones capable of explaining dependent variables in subsequent researches on the same subject. Characteristics of a Good Hypothesis: (a) Connceptual clarity: A hypothesis should be conceptually clear. It should consist of clearly defined and understandable concepts. (b) Specificity: A hypothesis should be specific and explain the expected relations between variables an the conditions under which these relations will hold. (c) Testability: A hypothesis should be testable and should not be a moral judgement. It should be possible to collect empirical evidence to test the hypothesis. (d) Availability of techniques: Hypotheses should be related to available techniques; otherwise they will not be researchable. Therefore the researcher must make sure that methods for testing his proposed hypotheses are available. (e) Theoretical relevance: A hypothesis should be related to a body of theory. When research is systematically based upon a body of existing theory, a genuine contribution to knowledge is more likely to result. (f) Consistency: Hypotheses should be logically consistent. Two or more propositions logically derived from the same theory must not be mutually contradictory. (g) Objectivity: As social phenomena are affected by the milieu in which they take place, the serarcher much be aware of his values and state them explicitly. (h) Simplicity: A hypothesis should be a simple one requiring fewer conditions or assumptions. But simple does not mean obvious. The more the insight the researcher has into a problem, the simpler will be his hypothesis about it.

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Before proceeding to the next stage it is essential to consider two points. The first step its to asses the value of information that is being sought. In this stage it is important to conduct a cost-benefit analysis, wherein the costs incurred obtaining the needed information are compared with the benefits accruing to the organization. If the costs are more than the benefits then it is better to halt the research, while subsequent phases of the research process can be carried on if the benefit is greater than the cost. Second point is To ensure that the required information does not already exist as it would make the research effort futile.

Determine the Relevant Variables:

Another aspect of prblem definition is identification of the key variables. The term variables is an important one in research. A variable is defined as anything that varies or changes in value. Because a variable represents a quality that can exhibit differences in value, usually in magnitude or strength, it may be said that a variables generally is anything that may assume different numerical or categorical values. Key variables should be identified in the problem definition stage. Attitude towards Internet broerage firms may be a variable, for example, as peoples attitudes may vary from positive to negative. The attitude toward each of the many characteristics of brokerage firms, such as availability of investment advisory services, real-time quotes, toll-free calls, and the like, would be a variable. Variables can be

Categorical or classificatory variable

Continuous variable

Categorical variables- it has a limited number of distinct values therefore can be easily categorized example; the variable gender may be categorized as male or female, gender is therefore categorical or classificatory variable. Continuous variables- one with an infinite number of possible values. Example, sales volume may encompass an infinite range of numbers.
Types of variablesDependent and independent variables A variable is a concept that can take on different quantitative values like height, weight age and so on. If a variable is dependent on the result of some other variable such variable is called dependent variable. An independent variable is one that is not dependent on any other variable with reference to that particular study. For instance, height and weight are dependent on age, but age is not dependent on height and weight. Therefore, age is an independent variable, while weight and height are dependent variables. Quantitative values can be classified as continuous and non-continuous variables. Continuous variables are phenomena that can take on different values even in decimal places. For example the 13 | P a g e

number of kilometers can be measured even in decimal places like as weight and age can. Noncontinuous variables are those that cannot be measured in decimals-like the number of children. Extraneous variable Extraneous variables are impendent variables that are not directly linked with the study, but may influence the dependent variable. For instance, assume that a hypothesis was framed which stated a relationship between childrens gains in academic achievement and their self-concept existed. Here, academic achievement is the dependent variable and self-concept is the independent variable. Apart from self-concept, intelligence may also affect academic achievements. But, intelligence is not related to the studys purposes or objective. Therefore, we can say that intelligence is a extraneous variable. If there is any effect on the dependent variable from the extraneous variable, it is called an experimental error. Control Control is essentially devised to minimize the effects of extraneous variables. This is an important characteristic of a good research design. Confounded relationship When a dependent variable is affected by the influence of an extraneous variable, then the relation between the dependent and independent variables is confused or confounded by an extraneous variable. Continuous and categorical Continuous variables are measured on a scale that theoretically can take on an infinite number of values. Example Test scores range from a low of 0 to a high of 100 Attitude scales that range from very negative at 0 to very positive at 5 Students' ages

Categorical variables are measured and assigned to groups on the basis of specific characteristics. Examples Gender: male and female Grade level: K-12 Socio-economic status: low, middle, and high

The term level is used to discuss the groups or categories Gender has two levels - male and female Socio-economic status has three levels - low, middle, and high

Continuous variables can be converted to categorical variables, but categorical variables cannot be converted to continuous variables IQ is a continuous variable, but the researcher can choose to group students into three levels based on IQ scores - low is below a score of 84, middle is between 85 and 115, and high is above 116

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Test scores are continuous, but teachers typically assign letter grades on a ten point scale (i.e., at or below 59 is an F, 60 to 69 is a D, 70 to 79 is a C, 80-89 is a B, and 90 to 100 is an A

Research Design:
A research design is a logical and systematic plan prepared for directing a research study. It specifies the objectives of the study, and the methodology and techniques to be adopted for achieving the objectives. It constitutes the blueprint for the collection, measurement and analysis of data. It is the plan, structure and strategy of investigation conceived so as to obtain answers to research questions. The plan is the overall scheme for the program of research. A research design is the program that guides the investigator in the process of collecting, analysing and interpreting observations. It provides a systematic plan of procedure for the research to follow. Definition: A research design is not a highly specific plan to be followed without deviation, but rather a series of guideposts to keep one headed in the right direction. By Suchman A research design is the arrangement of conditioons for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure By Jahoda, Deutsche and Cook Essentials of Good Research Design: Some important characteristics of good research design are flexibility, adaptability, efficiency, economy and so on. A good research design should minimize bias and maximize data accuracy and give the least number of errors. The most important requirement of good research design is that it should provide adequate information so that the research problem can be analyzed on a wide perspective. It is a plan that specifies the objectives of the study and the hypotheses to be tested. It is an outline that specifies the sources and types of information relevant to the research questions. It is a blueprint specifying the methods to be adopted for gathering and analysing data. It is a scheme defining the domain of generalisability, i.e., whether the obtained information can be generalised to a larger population or to different situations.

The research should be designed so that it adapts well to the type of research to be carried out. For instance, in the case of exploratory research, which is usually carried out for discovering ideas for further research, the research design should be flexible enough to consider different aspects of the problem situation. In the case where accuracy in research results is paramount, (cases where huge investments are at stake) a research design, which minimizes bias and maximizes reliability of data will be appropriate. For research regarding testing of hypothesis for measuring causal relationships between variables, the research design should allow for inferences about causality along with minimizing bias and maximizing reliability.

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NEED FOR RESEARCH DESIGN Research design is essential because it facilitates the smooth flow of various research process. A good design mean that good research results can be obtained with minimum utilization of time, money and effort. Therefore, it can be said that design is highly essential for planning research activities. An ideal research design can be developed, if available resources such as time, manpower and money are considered before beginning the design. The validity of research results so based on the initial research design. Research design has to be developed very carefully, as it forms the foundation of the entire research process that follows. The characteristics of efficient research design should first be properly understood. IMPORTANCE OF A RESEARCH PLAN Preparing a research plan for a study helps to give direction to the study and to know exactly what has to be done and how and when it has to be done at every stage. It enables the researcher to consider beforehand the various decisions to be made: What are the objectives of the study? What are the investigative questions? What are the sources of the data? What is the universe of the study? What sampling methods is appropriate? And so on. Without a plan, research work becomes unfocussed and aimless empirical wandering. The researcher will find it difficult , laborious and time-consuming to decide which is relevant and which is not in the complex interplay of factors before researcher and may get lost in the welter of irrelevancies. A research design prevents such blind searching and indiscriminate data gathering and guides the researcher in the right direction. A research plan defines the boundaries of research activities and enables the researcher to channel his energies into the right work. With clear objectives in view, the researcher can proceed systematically towards achieving them. The design also enables the researcher to anticipate potential problems in data gathering, operationalisation of concepts, measurements, etc.

IMPORTANT ELEMENTS OF A RESEARH PLAN The formate may vary depending on the purpose for which the study is undertaken, but in general, the research plan of a student/academician may cover the following essential sections: 1. 2. 3. 4. Introduction Statement of the problem Review of previous studies Scope of the study:refrence period, geographical area to be covered, type oof respondents to be study, time, finance, interest, available techniques. 5. Objective of the study; t study to identify to examine 6. Conceptual model identify the variables , develop the relaionship b/w them 16 | P a g e

1.

2.

3.

4.

5.

6.

7. Hypotheses 8. Operational defination of concepts 9. Significance of the study 10. Geographical area to be covered 11. Reference period 12. Methodology 13. Sampling plan 14. Tools for gathering data 15. Plan of analysis 16. Chapter scheme 17. Time budget 18. Financial budget Introduction: The inroduction of a research plan or proposal should place the research problem in its historical perspective. It must atate the need for studying it, and the researchers precise interests in studying the problem. Statement of the problem: The research problem should be defined, pointing out its core nature and its importance. The issue relating to the problem may also be stated. This statement gives direction to the research process. Review of previous studies: There may be previous studies on the selected theme. A review of available literature will bring out information on them. The primary aspects of those studies may be briefly described and the gaps pointed out. Does the selected study fill in the gap? Or it is a replication of an earlier study?. Scope of the study: The scope and dimensions of the study should be delimited with reference to the topical scope breadth and depth, geographycal area to be studied, the issues to be analysed, etc. The purpose of the demarcation is to make the study manageable in terms of the researchers aim, interest and competence and available techniques, time , finance and facilities. Research scholars are invariably ambitious, taking up vast studies without considering the time and other requirements, and later finding it to difficult to coomplete the work, they compromise on depth and quality. Therefore, it is essential to delimit the study from the standpoint of manageability. Objective of the sudy: The specific objectives of the study should be stated cleary. These refer to the questions to which the researcher proposes to seek answers through the study. It is desirable to limit the number of objectives to a reasonable number. Reasonability depend on the time limitations, resource constraints, capability etc. It is wise to pick objectives that are challenging but not impossible to achieve. The statement of objectives should not be vague like to study industrial marketing in India, this statements are vauge, as they fail to specify what exactly they are aimed at. The statements should be specific and indicate the exact purpose of the study. Such precise statements give functional guidelines to the research process. Conceptual model: This is where the researcher formulates and develops the structure of relationships among the variables he is investigating. The logical connection of the variables is delivered; the assumptions and propositions used to develop the explanatory framework are included.

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7. Hypotheses: These are logically deduced from the theoretical framework above. They refer to the anticipated outcome or possible answers to the research questions. They should be conceptually clear, specific and simple. 8. Operational definition of concepts: The major concepts used in the title of the study, its objectivee, the investigative questions and the hypotheses should be identified. Each of them should be defined in operational terms pertinent to the measurement criteria or operations. 9. The significance of the study: It is important to point out the relevance and significance of the investigation. Can the findings contribute to the enrichment of theory and/or to the solution of some problems? A careful statement of the value of the study and the possible applications of its finding helps to justify its importance and social relevance. 10. Geographical area to be covered: The territorial area to be covered by the study should be decided and specified in the plan. The area to be chosen depends on the purpose of the study and time and other resources available. 11. Reference period: This depends on the nature of the study and availability of data. The period should be longer say fiv or 10 years if the study aims to make a trend analysis of an activity like production or sale or profitability. 12. Methodology: In this section, the overall topology of the design experimental, descriptive, survey, case study or historical study is specified. Futher, the method or methods to be adopted for the collection of data observation, interviewing or mailing are specified. 13. Sampling plan: If the study requires collecting primary data from the field, the universe must be deliberated, and the methods of sampling to be used for drawing the sample from the universe and the sample size must be stated. 14. Tools for gathering data: The tools to be used for gathering data interview schedule/guide, questionnaire or check list etc. are listed and each of them described. The tools chosen should be appropriate to the methods to be adopted for gathering data. 15. Plan for analysis: The statistical techniques proposed for data collection and analysis should be explained clearly with its suitability in the research. The application of appropriate techniques is essential for testing hypotheses and drawing inferences. 16. Chapter scheme: The chapter scheme of the report/dissertation to be prepared for communicating the finding of the study to the academic community and users should be outlined and the purpose of each chapter stated. 17. Time budget: The time period required for each stage of work and the total time duration of the study are specified. 18. Financial budget: This should include an estimate of the expected costs of the project under major categories like salary, printing and stationery, postage, travel expenses, computation, secretarial and typing etc.

Types of Research design : Exploratory Research- Exploratory research is a type of research conducted for a problem
that has not been clearly defined. Exploratory research helps determine the best research design, data collection method and selection of subjects. It should draw definitive

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conclusions only with extreme caution. Given its fundamental nature, exploratory research often concludes that a perceived problem does not actually exist. Exploratory research often relies on secondary research such as reviewing available literature and/or data, or qualitative approaches such as informal discussions with consumers, employees, management or competitors, and more formal approaches through in-depth interviews, focus groups, projective methods, case studies or pilot studies. The Internet allows for research methods that are more interactive in nature. For example, RSS feeds efficiently supply researchers with upto-date information; major search engine search results may be sent byemail to researchers by services such as Google Alerts; comprehensive search results are tracked over lengthy periods of time by services such as Google Trends; and websites may be created to attract worldwide feedback on any subject. The results of exploratory research are not usually useful for decision-making by themselves, but they can provide significant insight into a given situation. Although the results of qualitative research can give some indication as to the "why", "how" and "when" something occurs, it cannot tell us "how often" or "how many". Exploratory research is not typically generalizable to the population at large.

Descriptive Research - Descriptive research, also known as statistical research, describes

data and characteristics about the population or phenomenon being studied. Descriptive research answers the questions who, what, where, when and how... Although the data description is factual, accurate and systematic, the research cannot describe what caused a situation. Thus, Descriptive research cannot be used to create a causal relationship, where one variable affects another. In other words, descriptive research can be said to have a low requirement for internal validity. The description is used for frequencies, averages and other statistical calculations. Often the best approach, prior to writing descriptive research, is to conduct a survey investigation.Qualitative research often has the aim of description and researchers may follow-up with examinations of why the observations exist and what the implications of the findings are. In short descriptive research deals with everything that can be counted and studied. Your research must have an impact to the lives of the people around you. For example, finding the most frequent disease that affects the children of a town. The reader of the research will know what to do to prevent that disease thus, more people will live a healthy life.

Diagnostic Research Analysis used to clarify research finding, such as explanations

respondents give for a behavior or attitude. The purpose of many organizational behavior studies, 19 | P a g e

for example, is to describe the reasons employees give for their explanations of the nature of things. In other words, a diagnostic analysis is performed when emplyoyees in the various subgroups are asked questions such as Why do you feel that way? Although the

Causal Studies Research conducted to identify cause-and-effect relationships among variables

when the research problem has already been narrowly defined in exploratory and descriptive research. In causal studies it is typical to have an expectation of the relationship to be explained, such as a prediction about the influence of price, packaging, advertising, and the like on sales. A typical causal relation

Sampling:
The process of sampling involves any procedure using a small number of items or parts of whole population to make conclusions regarding the whole population. Sample: A sample is a subset, or some part, of a larger population to be studied. Population or Universe: We have defined sampling in terms of the population to be studied. A population, or universe, is any complete group of people, companies, hospitals, stores, college students, or the like that share some set of characteristics. When a distinction is made between population and universe, it is on the basis of whether the group is finite (population) or infinite (universe). Population Element: Refers to an individual member of the population. Census: A census is an investigation of all the individual elements that make up the population: total enumeration rather than a sample. Reasons for taking Sample: Pragmatic reasons Applied research projects usually have budget and time constraints. Of course, a researcher investigating a population with an extremely small number of population elements may elect to conduct a census rather than a sample because the cost, labour, and time constraints are relatively insignificant. In most situations, however, there are many pragmatic reasons for sampling. Sampling cut costs, reduces labor requirements, and gathers vital information quickly. Accurate and Reliable Result Another major reason for sampling is that samples, if properly selected, are sufficiently accurate in most cases. If the elements of a population are quite similar, only a small sample is necessary to accurately protray the characteristics of interest. When the 20 | P a g e

population elements are highly homogeneous, samples are highly representative of the population. Under these circumstances almost any sample is as good as another. Even when populations have considerable heterogeneity, large sample provide data of sufficient precision to make most decisions. A sample may be more accurate than a census. In a census of a large population there is a greater likelyhood of nonsampling errors. In a survey, mistakes may occur that are unrelated to the selection of people in the study. For example, a response may be coded incorrectly, or the keyboard operator might make a data entry error. Interviewer mistakes, tabulation errors, and other nonsampling errors may increases during a census because of the increase in volume of work. In a sample, increased accuracy is possible because the fieldwork and tabulation of the data can be more closely supervised than would be possible in a census. In a field survey a small, well-trained, closely supervised group may do a more careful and accurate jod of collecting information than a large group of nonprofessional interviewers trying to contact everyone. Destruction of Test Units Many research projects, especially those in quality control testing, require the destruction of the items being tested. If the manufacturer of firecrackers wished to find out whether each product met a specific production standard, wished to find out whether each product met a specific production standard, there would be no product left after the testing. This is the exact situation in many business field experiments.

STAGES IN SELECTION OF A SAMPLE

Define the target population

Select a sample frame

Determine if a probability or nonprobability sampling method will be chosen

Plan procedure for selecting sampling units

Determine sample size

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1. Defining the Target Population Once the decision to sampling has been made, the first question related to sampling concerns identifying the target population, that is, the complete group of specific population elements relevant to the research project, so the proper source from which the data are to be collected can be identified. The question to whom do we want to talk? must be answered. It may be user, nonusers, recently hired employees, or doctors. To implement the sample in the field, tangible characteristics should be used to define the population. 2. The sampling frame In actual practice the sample will be drawn from a list of population elements that is often somewhat different from the target population that has been defined. A samplin frame is the list of elements from which the sample may be drawn. It is also called the working population. 3. Sampling Units The sampling unit is a single element or group of elements subject to selection in the sample. For example, if an airline wishes to sample passengers, every 25th name on a complete list of passengers may be taken. In this case the sampling unit is the same as the element. Alternatively, the airline could first select flights as the sampling unit, then select certain passengers on the previously selected flights. In this case the term primary sampling units (PSUs) designated units selected in the first stage of sampling. If successive stages of sampling are conducted, sampling units are called secondary sampling units or tertiary sampling units.

Sampling Methods:
Sampling Methods

Probability Sampling

Non-Probability Sampling

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1. 2. 3. 4. 5. 6.

Simple Random sampling Systematic Sampling Stratified Sampling Proportional versus Disproportional Sampling Cluster Sampling Multistage Area Sampling

1. 2. 3. 4.

Covenience Sampling Judgment or Purposive Quota Sampling Snowball Sampling

1. Probability Sampling The term probability samplingis used when the selection of the sample is purely based on chance. The human mind has no control on the selection or non- selection of the units for the sample. Every unit of the population has known nonzero probability of being selected for the sample. The probability of selection may b equal or unequal but it should be non-zero and should be known. The probability samplingis also called the random sampling (not simple random sampling). Some examples of random sampling are: a) Simple random sampling: Simple random sampling assures that each element in the population has an equal chance of being included in the sample. Drawing names from a hat and selecting the winning raffle ticket from a large drum are typical examples of simple random sampling. The sampling process is simple because it requires only one stage of sample selection (in contrast to more complex types of probability sampling). Drawing names or numbers out of a fish bowl, using a spinner, rolling dice, or turning a roulette wheel may be used to braw a sample from small populations. b) Systematic Sampling: Suppose a researcher wants to take a sample of 1,000 from a list consisting of 200,000 names of companies. With systematic sampling, every 200th name from the list would be drawn. The extremely simple. An initial starting point is selected by a ranbom process, and then every nth number on the list is selected. c) Stratified Sampling: In statistics, stratified sampling is a method of sampling from a population. When populations vary, it is advantageous to sample each subpopulation (stratum) independently. Stratification is the process of dividing members of the population into homogeneous subgroups before sampling. The strata should be mutually exclusive: every element in the population must be assigned to only one stratum. The strata should also be collectively exhaustive: no population element can be excluded. Then random or systematic sampling is applied within each stratum. This often improves the representativeness of the sample by reducing sampling error. It can produce a weighted mean that has less variability than the arithmetic mean of a simple random sample of the population. Proportional versus Disproportional Sampling: Proportional stratified sample : A stratified sample in which the number of sampling units drawn from each stratum is in proportion to the population size of that stratum. Disproportional Stratified Sample : In a disproportional stratified sample, sample size for each stratum is not allocated in proportion to the population size, but is dictated by analytical considerations, such as variability in store sales volume. The logic behind this procedure related to the general argument for sample size: As variability increases, sample 23 | P a g e

size must increase to provide accurate estimates. Thus, the strata that exhibit the greatest variability are sampled more heavily in order to increase sample efficiency. Multistage Area Sampling: Sampling that involves using a combination of other probability sampling techniques. Advantages

Stratification will always achieve greater precision provided that the strata have been characteristic of interest. The bigger the differences between the strata, the greater the gain in precision. For example, if you were interested in Internet usage you might stratify by age, whereas if you were interested in smoking you might stratify by gender or social class. It is often administratively convenient to stratify a sample. Interviewers can be specifically trained to deal with a particular age-group or ethnic group, or employees in a particular industry. The results from each stratum may be of intrinsic interest and can be analysed separately. It ensures better coverage of the population than simple random sampling.

Disadvantages

Difficulty in identifying appropriate strata. More complex to organise and analyse results.

d) Cluster Sampling: In a cluster sample the primary sampling unit is no longer the individual element in the population (e.g. manufacturing firms) but a large cluster of elements (e.g. cities). The area sample is the most popular type of cluster sample. A grocery research, for example, may randomly choose several geographic areas as the primary sampling units and then interview all, or a sample of, grocery stores within the geographic clusters. Interviews are confined to these clusters; no interviews occur in other clusters. Cluster sampling is classified as a probability sampling technique either because of the random selection of clusters or because of the random selection of elements within each cluster. 2. Non Probability Sampling In non-probability sampling,the sample is not based on chance. It is rather determined by some person. We cannot assign to an element of population the probability of its being selected in the sample. Somebody may use his personal judgment in the selection of the sample. In this case the sampling is called judgment sampling.A drawback in non-probability sampling is that such a sample cannot be used to determine the error. Any statistical method cannot be used to draw inference from this sample. But it should be remembered that judgment sampling becomes essential in some situations. Suppose we have to take a small sample from a big heap of coal. We cannot make a list of all the pieces of coal. The upper part of the heap will have perhaps big pieces of coal. We have to use our judgment in selecting a sample to have an idea about the quality of coal. The non- probability sampling is also called non-random sampling. a) Covenience Sampling: It is refers to sampling by obtaining units or people who are most cnveniently available. For example, it may be convenient and economical to sample employees in companies in a nearby area. 24 | P a g e

b) Judgment, or Purposive Sampling: It is a nonprobability sampling technique in which an experienced individual selects the sample based on his or her judgment about some appropriate characteristics required of the sample members.

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