1Introto business research

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Introduction to Business Research

Dr. Tejinderpal SinghAssistant Professor

University Business [email protected]



Business Problems. !"ur t#o sales people are doing #ell$ but

the other eight are struggling%&. !'here should ( aim my mar)eting

campaign*%

+. !,o# #ill ( )no# if my mar)etingcampaign is getting a good result*%-. !There are not enough customers for my

store.%. ! Attrition rate is very high in my

company !



Business /esearch

A process of determining$ ac0uiring$analy1ing$ synthesi1ing$ and disseminating

relevant business data$ information$ andinsights to decision ma)ers in #ays thatmobili1e the organi1ation to ta)e

appropriate business actions that$ in turn$

ma2imi1e business performance



Business /esearch Types

Basic

/esearch3Pure4

Applied/esearch



5eaning

Attempts to e2pand thelimits of )no#ledge.6ot directly involved inthe solution to apragmatic problem5ay not have anycommercial 7alue

BASICRESEARCH



82amples(s e2ecutive success correlated #ith highneed for achievement*Are members of highly cohesive #or)groups more satis9ed than members of

less cohesive #or) groups*Do consumers e2perience cognitivedissonance in lo#:involvement situations*



5eaning

;onducted #hen a

decision must bemade about a speci9creal:life problem,ave commercialvalue

APPLIEDRESEARCH



82amples

Should 5cDonalds add (talian pastadinners to its menu*Business research told 5cDonald<s it

should not*Should Procter = >amble add a high:priced home teeth bleaching )it to itsproduct line*/esearch sho#ed ;rest 'hitestrips #ouldsell #ell at a retail price of ?--



Business /esearch eatures

/esearch information is neither intuitivenor hapha1ardly gathered.

iterally$ research 3re:search4 :!search

again%Business research must be objectiveDetached and impersonal rather thanbiased(t facilitates the managerial decisionprocess for all aspects of a business



5anagerial 7alue of Business/esearch

• (dentifying problems or opportunities• Diagnosing and assessing problems or

opportunities

• Selecting and implementing a course ofaction

• 8valuation the course of action



Determining When to Conduct BusinessResearch

Time constraints

Availability ofdata

6ature of thedecision

Bene9ts versuscosts



Determining 'hen to ;onduct Business/esearch

Time Constraints

• Is sufficient timeavailable beforea managerialdecision mustbe made?

Availability of

Data • Is theinformationalready on handinadequate formaking thedecision?

Nature of the

Decision• Is the decisionof considerablestrategic ortacticalimportance?

Benefits vs.

Costs• Does the valueof the researchinformationexceed the costof conductingresearch?

6"6"

6"6"

Do 6ot ;onduct Business /esearch

Ces Ces Ces;onduc

tBusiness

/esearch

Ces



7alue versus ;osts

Potential 7alue of a Business /esearch 8 ort

Should 82ceed its 8stimated ;osts



7alue Should 82ceed 8stimated ;osts

DecreaseduncertaintyIncreased likelihood

of a correctdecisionImproved businessperformance andresulting higherprofits

ResearchexpendituresDelay of businessdecision andpossible disclosureof information torivalsPossible erroneousresearch results

7alue

;ost



: E

;haracteristics of >ood /esearch

;learly de9ned purpose;learly de9ned purposeDetailed research

processDetailed research

process Thoroughly planned

design

Thoroughly planneddesign

,igh ethical standards,igh ethical standards

imitations addressedimitations addressed

Ade0uate analysisAde0uate analysis

Unambiguouspresentation

Unambiguouspresentation;onclusions justi9ed;onclusions justi9ed

;redentials;redentials



Who Conduct BusinessResearch?

(ntern

al82ternal



(nternal“P&G studies its customers - both fnalconsumers and the trade - throughcontinuous marketing research andintelligence gathering. It paints its toll- ree800 number on ever product.!

Philip Kotler, in Mar etin!Mana!e"ent#

!"nlike a lot o other companies# Procter

reall does use the research that the do.$he like to listen to their consumers.!

A $or"er e"plo%ee in the "ar etin!research depart"ent at P&'#



!'ith the setting up of its 5/ department inF&-$ P=> became one of the 9rst

companies in the #orld to conduct formalresearch on consumersG needs andpreferences%.

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82ternal research suppliers

Business /esearch irms

;ommunicationAgencies;onsultants

Trade Associations



BusinessResearch

Firms

Full Service

Custom Proprietary

Specialists

Methods SyndicatedData Other



• Some Syndicated Data ProvidersA; 6ielsenScarborough5ill#ard Bro#n6ielsen 5edia /esearch/oper AS';SA T5"

CahooH"/; (nternationalDouble;lic)6ielsenI6et/atings

Taylor 6elson Sofres (ntersearch

J.D. Po#er Associates5edia5ar)Simmon 3S5/B4B/5B(nformation /esources (nc



;ommunication Agencies

:&-

DirectBusiness

Public/elations

AdvertisingSalesPromotion



;onsultants and Trade Associations

• ;onsultants – Business – >eneral

Business

:&

• TradeAssociations – >eneral

business

– Businessspecialties

– /esearchspecialties



'ho ;onducts /esearch*

:&E



(nternet /esearch

• See)ing facts and 9gures about an issue• Surveys on 'eb sites• 'eb analytics

1Introto business research

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