In this presentation, we will discuss the importance of information and need to be aware of information brought by good researches. Methods to evaluate value of information, data collection, selection of data and types of researches are also presented here. To know more about Welingkar School’s Distance Learning Program and courses offered, visit: http://www.welingkaronline.org/distance-learning/online-mba.html

1. Chapter 2
Basic Concepts and Research Design
Chapter 2 Basic Concepts and
Research Design

2. Learning Objectives
1. The role of information in this
emerging knowledge age
2. Explain various stages involved in
the research process
3. To understand the various research
designs used in marketing research
Chapter 2 Basic Concepts and
Research Design

3. 4 Determinants of Research
RESEARCH
Chapter 2 Basic Concepts and
Research Design

4. Information Need in The New
Knowledge Era
New knowledge empowered customer
have started expecting more benefits
and better value for their money.
She prefers to choose brands on the
basis of intangibles like service-
delivery and the extent to which it is
customized to her lifestyle
The buyer of today is particular of
maximizing and weighing the price
performance ratio
Chapter 2 Basic Concepts and
Research Design

5. Decision Making and Tracking
Trends
Managers very often view ‘Research’ as
a tool used to providing information in
the form of a ‘photo’-mirroring
‘consumers opinion’ and the prevalent
market situation
Thus having access to information will
help in the development of an
independent and objective way of
improving decision making-
understanding, keeping track of and
monitoring one’s own success, or
failures, understanding competitors
market value/share and development of
new products and communication
Chapter 2 Basic Concepts and
Research Design

6. The Research Process
What is the purpose of conducting the
research?
What are the research objectives?
Working out on the cost-benefit
worthiness of the research study
What should be the type of research
design to be adopted?
How the data obtained is to be
analyzed, interpreted and
recommendations given?
Chapter 2 Basic Concepts and
Research Design

7. Steps Involved in The Research
Process
Chapter 2 Basic Concepts and
Research Design

8. Bayesian Theory
The Bayesian decision theory tries to
answer two questions:
1.How can the manager select from
among alternative information
gathering choices, including the option
of not gathering any additional
information at all?
2.After making the choice, what action is
to be taken by the manager?
Chapter 2 Basic Concepts and
Research Design

9. Herber Spiegelbug
Herber Spiegelbug has referred to the
method of phenomenology as
consisting of four steps, recognized by
most phenomena lists, to qualify as
representative of the approach
generally followed
◦ Suspend prior conceptions
◦ Description of the phenomenon
◦ Determine the universal elements
◦ Apprehending of relationships
Chapter 2 Basic Concepts and
Research Design

10. Selection of Research
Methodology
If one is required to answer the
question related to the appropriate
“method of inquiry”? The answer will
be dependent on the nature of the
research problem and the availability
of existing knowledge
Broadly stated, two research
methodologies are used for the
purpose of research
◦ Experimental Research
◦ Non Experimental Research Concepts and
Chapter 2 Basic
Research Design

11. Methods to Evaluate The Value
of Information
1. Simple Savings Method (SSM)
2. Return On Investment (ROI)
3. Present Value Method (PVM)
4. Cost Benefit Approach (C-B)
5. Bayesian Approach
Chapter 2 Basic Concepts and
Research Design

12. Steps Recognized by
Phenomena lists
Phen
ome
nolo
gy
Chapter 2 Basic Concepts and
Research Design

13. Selection of the Data Collection
Techniques
1. Observation Techniques:
under this techniques, data is obtained by
observing present or past behavior. Past
behavior observation will be done with the
help of secondary data
2. Communication Techniques:
communication techniques involve seeking
answers by asking questions. This is
sometimes done in the form of a survey
research, when questions are asked and
answers are received. This communication
can be conducted via mail or telephone or
sometimes in person Chapter 2 Basic Concepts and
Research Design

14. Actual Data Collection
The budget availability
Nature of the project and the
complexity of the required information
Degree of accuracy desired
Time availability
Chapter 2 Basic Concepts and
Research Design

15. Types of Research
Descriptive design
Experimental design
quasi-experimental design
Chapter 2 Basic Concepts and
Research Design

16. Descriptive Designs
These designs are used to establish
accurate descriptions of variables
relevant to the decision being taken
without demonstrating the existence of
the relationship between variables.
The purpose of this design is to give an
accurate picture of some aspect of the
marketing environment
Say Titan may want to measure the
reaction of young women between 15-25
years of age, to their ‘Fast track’ brand of
watches Chapter 2 Basic Concepts and
Research Design

17. The Various Types of Research
Design
Chapter 2 Basic Concepts and
Research Design

18. Experimental Designs
These research designs are used to
demonstrate cause effect relationship
This means that when it is necessary to
show that one variable determines the
values of other variables, a experimental
approach is used
Students will undoubtedly be familiar
with the concept of experimentation in
biological and physical sciences
There are two types of experimental
designs
◦ Laboratory experiments
◦ Field experimental settings 2 Basic Concepts and
Chapter
Research Design

19. Quasi-Experimental Designs
1. One shot-case study
2. One-group pre test – post-test design
3. Time series design (also known as
Longitudinal Designs)
4. Static group comparison design
5. Simulation
Chapter 2 Basic Concepts and
Research Design

20. Summary
The research process consists of a
series of steps worked out in a systemic
manner from the conception of the
project through the conclusions,
recommendations and ultimate action
The research designs can be
categorized into Descriptive design,
Experimental design and Quai
experimental design
The variation in the approaches will be
with respect to purpose, exactness of the
hypothesis formed and the type of data
collection methods used
Chapter 2 Basic Concepts and
Research Design