Research Methodology & Fundamentals of Market Research

MMS

Semester -I I

Course content
1. Relevance & Scope of Research In Management 2. Steps Involved in the Research Process 3. Identification of Research Problem 4. Defining MR problems 5.Research Design 6. Data Collection Methodology, Primary Data Collection Methods / Measurement Techniques Characteristics of Measurement Reliability, Validity etc. Secondary Data Collection Methods Library Research, References Bibliography. Abstracts, etc.

Course content
7. Primary and Secondary data sources and data collection instruments including in-depth
interviews, projective techniques and focus groups 8. Data management plan Sampling & measurement

9. Data analysis Tabulation, SPSS applications data base, teasing for association
10. Analysis Techniques Qualitative & Quantitative Analysis Techniques Techniques of Testing Hypothesis - Chi-square, T-test, Correlation & Regression Analysis, Analysis of

Variance, etc. Making Choice of an Appropriate Analysis Technique

11. Research Report Writing 12. Computer Aided Research Methodology use of SPSS packages

Reference Books
1. Business Research Methods Cooper Schindler
2. Research Methodology Concepts & Cases Dr. Deepak Chawla & Dr. Neena Sondhi 2. Research Methodology Methods & Techniques C.R.Kothari 3. D. K Bhattacharya : Research Methodology (Excel) 4. P. C. Tripathy : A Text book of Research Methodology in Social Sciences (Sultan Chand) 5. Marketing Research Hair, Bush, Ortinau (2nd edition Tata McGraw Hill) 6. Marketing Research Text & Cases Onreon, Stevens. Loudon Jaico publication) 7. Marketing Research Essentials Muuariels & Gates (3J coition SW College publicc.ions 8. Marketing Research Aaker, Kumar, Day (7th edition John Wiley Sons)

Pattern
Parameter Written Internals* Total Marks break up: Marks 60 40 100

2 tests (12) 2 assignments(8) Presentation-Project(10) Attendance(5) Attitude(5)

Session 1: Research Methodology & Fundamentals of Market Research

MMS Semester I I

Some terms before we begin

DATA
SAMPLE POPULATION CLUSTER VARIABLES QUOTA

DESIGN CONTROL GROUPS

STRATIFIED
HYPOTHESIS DEPENDENT & INDEPENDENT VARIABLE

Definitions

Search for knowledge

Systematized effort to gain new knowledge ( Redmen & Mory) Urge of human brain to re examine and to re understand things the manipulation of things, concepts or symbols for the purpose of generalizing, to extend, correct or verify knowledge, whether that knowledge aids in construction of theory or in practice of an art ( D. Slesinger & M. Stephens- Encyclopedia of Social Science)

Objectives of research

To gain familiarity with a phenomenon (exploratory / formulative)

To portray accurately the characteristics of situation, group or an individual (descriptive)

To determine the frequency/association To test hypothesis of casual relationship between the variable(hypothesis testing)

Research requirements

Focus on problem solving

Emphasizes development of generalization which can be used for estimating Based on observations/empirical experience Strives to be objective and logical Includes possible tests for validation of procedures employed; data collected and conclusions drawn

Requires accurate observation and description Insist on careful recording reporting

Good Research means

Purpose clearly defined

Detailed Thoroughly planned Ethical standards are maintained Limitations are revealed Adequate analysis for decision makers needs Findings presented unambiguously Conclusions are justified Researchers experience reflected

Good Researcher is

Systematic
Clear about the research idea With unambiguous ideas With logical bend of mind Can create empirical studies One who can make replicable models

Difficulties for research in India

Resource availability
Lack of interaction Code of conduct Lack of training Lack of confidence in integrity of researcher

Types of research

Approaches to research

Approaches to research
Historical approach
Based on historical data Observations are non repetitive Hypothesis may not be necessary Historians, philosophers, social psychologist use it often Limitations History has its own drawbacks Non matching Subjective interpretations Over generalizations Advantages Environmental setting is not required Used in time series

Approaches to research
Case study approach
Evolved as problem solving technique More depth its a comprehensive study of social unit, be that unit a person, a group, a social institution, a district or a community is also called a case study Careful and complete observations Quantitative analysis Advantages Flexible in terms of idea and researchers independence Mind is open to new learning's hence Fresh ideas are generated In depth

Limitations
Futile if research is already carried out

Approaches to research
Experimental approach
Scientific method Scientific methods studied under controlled conditions Dependent and independent variables Economics, sociology, social sciences Model building and relationships Explains variations and also gives ideas about extent of unexplained part of variation

Approaches to research
Descriptive approach
Use of questionnaires, opinionaires To identify research problem and create observations conducive to further research Researcher should have mastery over scientific techniques of conducting an inquiry Needs well founded hypothesis Advantages Many facts come to light to modify, substantiate improve existing doctrines Verify existing findings Limitations Enormous efforts Time consuming Misuse

Session 2: Research Methodology & Fundamentals of Market Research: Research Report Writing

MMS Semester I I

Research process
Step 1: Creating Research Proposal Discover management dilemma Define management questions

Define research question

Refine the research question Exploration exploration Research proposal Exploration

Research process
Step 2: Research design creation Design strategy (type, purpose, time, environment)

Data collection design

Sampling design

Pilot testing Instrument pilot testing Instrument revision

Research process
Step 3-4-5-6: Data Collection & Preparation

Data Analysis & Interpretation

Research Reporting

Management Decision

Few more definitions of research

A careful investigation through search for new facts in any branch of
knowledge Scientific and systematic search for pertinent information on a specific

topic
Research comprises defining and redefining problems, formulating hypothesis or suggested solutions; collecting, organizing and evaluating data; making deductions and reaching conclusions; and at last carefully testing the conclusions to determine whether they fit the formulating hypothesis

Basic steps

Basic steps

Research problem
The research problem should:

1.Be of interest to the researcher and at least some segment of the educational community 2.Ensure some degree of originality (or extension of existing knowledge) 3.Have theoretical and/or practical educational significance 4.Add to existing knowledge in a meaningful way 5.Be researchable, feasible, and ethical

Research problem
Sources for research problems/topics:

1.Research interest of professor/mentor 2.Discussion with other graduate students 3.Researcher's professional experience & interests 4.Current issues in education or social sciences 5.Research & professional literature
The problem statement must provide adequate focus and direction for the research. It should also identify key variables of the study and suggest the appropriate methodology for the study.

Understanding market research

Research carried out in an economic environment specifically aimed at increasing knowledge of the market Clearly defined search for answers to some questions which if answered would lead the company to make critical marketing related

decisions, on a strategic or tactical level

Market research is project based. Many a times outsourced. Marketing intelligence (business intelligence) closely related to market research defers on the fact that it communicates the gaps, immediate action required, issues to be addressed, focus on customers

Application of market research

Strategic 1.Demand forecasting 2.Segmentation studies 3.Emerging market studies 4.Product development 5.Key buying factors study 6.Critical success studies Tactical 1.Demand estimation 2.Pricing 3.Product testing 4.Promotional research 5.Distribution oriented research

Market research works well when combined with experience, skill, intuition and judgment

Basic steps in market research

Some explorations: 1.Search for published data 2.Discussion with experts 3.Trends 4.Competition 5.Application 6.Ideas 7.Indicators

Research questions hierarchy

Sub objective Objectives Needs experiment Hypothesis

Research questions hierarchy

Resource allocation and budgets

Budgeting:
Rule of thumb Budgeting: % of sales Departmental budgeting Task budgeting

Resource allocation:(almost equal for all)

Project planning Data gathering Analysis, interpretation and reporting