04 BRM PowerPoint 2002.pdf - Business Research Methods...

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BusinessResearch MethodsWilliam G. ZikmundChapter 4:The Business Research Process
InformationReduces uncertaintyHelps focus decision making
Decision MakingThe process of developing anddeciding among alternative ways ofresolving a problem or choosing fromamong alternative opportunities.
Decisions Are Not All the Same: AContinuum of Decision MakingAvailability of allinformationneeded to makedecision -problem/opportunity &outcomesResearch maynot be neededGeneral natureof desiredobjectivesknownIncompleteinformation ofalternativesResearch neededto clarify thenature ofNature ofproblem unclearVague objectivesDecisionalternatives notknownResearch neededto understandsituation
Every business situation fallssomewhere on this continuumThe more important, ambiguous, oruncertain a situation is, the morelikely it is that additional time mustbe spent on business research
Types Of Research• Exploratory• Descriptive• CausalParticular decision situation is matchedwith the right type of research
COMPLETECERTAINTYABSOLUTEAMBIGUITYCAUSAL ORDESCRIPTIVEEXPLORATORYUncertainty InfluencesThe Type Of Research
Exploratory ResearchDescriptive ResearchCausal Research(Unaware of Problem)(Aware of Problem)(Problem Clearly Defined)“Our sales are declining and“What kind of people are buying“Will buyers purchase more ofwe don’t know why.”our product? Who buys ourour products in a new package?competitor’s product?”“Would people be interested“Which of two advertisingin our new product idea?”“What features do buyers prefercampaigns is more effective?”in our product?”possiblesituationDegree of ProblemDefinition
Exploratory ResearchInitial research conducted to clarifyand define the nature of a problemDoes not provide conclusiveevidenceSubsequent research expected
Descriptive ResearchDescribes characteristics of a populationor phenomenon (Profiling)Tries to “paint a picture” of a givensituation by addressingwho, what, when,where,andhowquestionsSome understanding of the nature of theproblem (maybe developed in part fromexploratory research)
Descriptive ResearchExampleWeight Watchers average customerWomen about 40 years oldHousehold income of about $50,000At least some college educationTrying to juggle children and a job
Descriptive ResearchExampleMen’s fragrance market1/3 size of women’s fragrance marketBut growing at a faster paceWomen buy 80 % of men’s fragrances
Descriptive ResearchAccuracy is crucial

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Term
Winter
Professor
Marketing
Tags
Type Of Research, example of causal research

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