expexp - W1 Introduction W2 Planning for research?MDP Why are customers churning MRP Split the problem into outcome and components � To identify

expexp - W1 Introduction W2 Planning for research?MDP...

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W1 - Introduction W2 - Planning for research MDP: Why are customers churning ? MRP: Split the problem into outcome and components · To identify and better understand the key drivers of customer loyalty Components/drivers : · To investigate the difference in perceived quality of service across respondents of different socio- demographic groups · To investigate whether key perception of attributes influences respondents perceived quality of service RQ: Understand the relationship between different measures/variables of components and the outcome · Does average perceived quality of service differ across respondents of different household size (ANOVA) · Is there an association between satisfaction with contract requirement and perceived quality of service? (Multiple regression)
Types of RQ (RQ and hypotheses ( ** Variable · A variable is an entity that can take on different values to represent an underlying concept, all concepts are seen as variables, as long as they can be MEASURED · Income, age, brand awareness, customer satisfaction are all examples Basic research designs
W3 - Exploratory research design · Explore the research questions and does not intend to offer final and conclusive solutions to existing problems. · Conducted for a research problem when the researcher has no past data or only a few studies for reference · Tool for initial research that provides a hypothetical or theoretical idea of the research problem. DIRECT Secondary research
Evaluating secondary data Criteria Issues Remarks Specifications/ methodology Data collection method Response rate Quality of data Sampling technique Sample size Questionnaire design Fieldwork Data analysis Data should be reliable, valid, and generalizable to the problem at hand . Error/accuracy Examine errors in: approach, research design, sampling, data collection, data analysis, reporting Assess accuracy by comparing data from different sources . Criteria Issues Remarks Currency Time lag between collection and publication Frequency of updates Census data are periodically updated by syndicated firms . Objective Why were the data collected ? The objective will determine the relevance of the data . Nature Definition of key variables Units of measurement Categories used Relationships examined Reconfigure the data to increase their usefulness, if possible . Dependability Expertise, credibility, reputation, and trustworthiness of the source Data should be obtained from an original rather than an acquired source .
Customer database : · Sales invoice · Customer POS data Data warehouse and data mining : · Centralized database that consolidates companywide data from a variety of operational systems Customer relationship management (CRM :( · Customer databases for targeted marketing · Relationships Business/non-government data: Sourced from professional organisations, commercial publishers, industry experts · Industry reports -> Moody’s, S&P, IBIS World, Statista ABS: Key demographic data and economic indicators · Consumer price index · Census data · Population Syndicated data:

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