Business Research Methods
Dr. Aditi Sharma
Research definition
Research is an activity that leads us to finding new facts, information,
assisting us in verifying the available knowledge and in making us question
things that are difficult to understand as per existing data.
Research in businesses
• Research is a continuous activity.
• It is helpful in critical assessment of the way we work, execute policies, and
give instructions in our professions.
• It is systematic observation of processes to find better ways to do various
activities.
• In-fact research is a subconscious activity that we are involved in at all times
Basic and Applied Research
Basic or fundamental research focuses on expanding our knowledge of a
certain subject or occurrence. This type of research examines data to find the
unknown and fulfill a sense of curiosity. Usually, basic research seeks to
answer "how," "what," and "why" when explaining occurrences.
Applied research looks to find solutions for existing and specific problems.
• Action research: Action research helps businesses find practical solutions
to problems by guiding them.
• Evaluation research: In evaluation research, researchers analyze existing
information to help clients make an informed decision.
• Research and development: Research and development focus on creating
new products or services to meet the needs of a target market.
Scope of research in Business
• Market Research
• Marketing Research
• Finance Research
• Operational research
• Business environmental research
• Competitive analysis
Research Process
• Defining the problem
• Developing an approach to the problem
• Research design formulation
• Fieldwork or data collection
• Data preparation and analysis
• Report preparation and presentation
Types of research
Classification based on the source of data
• Primary Research
• Secondary Research
Classification based on data analysis
• Qualitative Research
• Quantitative Research
Classification based of purpose
• Theoretical Research
• Applied Research
Classification based of the objective
• Exploratory Research
• Descriptive Research
Classification based on application of research
• Action Research
• Educational Research
Other types of research
• Inductive Research
• Deductive research
• Ethnographic research
• Case Study research
• Grounded theory research
Defining the business problem and subsequently the Research
Problem
• Step 1: Defining the business problem and subsequently the Research Problem
• Step 2: Valuing research Information (Literature Review)
• Step 3: Formulating Research Objectives & hypothesis
• Step 4: Research Design
• Step 5: Data Collection and Preparation
• Step 6: Data Analysis and Interpretation
• Step 7: Reporting the results (Report preparation)
Descriptive research is a methodological approach that seeks to depict
the characteristics of a phenomenon or subject under investigation. In
scientific inquiry, it serves as a foundational tool for researchers aiming
to observe, record, and analyze the intricate details of a particular topic.
This method provides a rich and detailed account that aids in
understanding, categorizing, and interpreting the subject matter.
Research process-in detail
Research Problem
A research problem can be related to, ‘What information is needed, and
how it can be obtained in most feasible way’.
Research Question
Refined statements of the specific components of the problem
Research Objectives
Research objectives are statements that describe the goals of a research
project
Research Hypothesis
An unproven statement/proposition about a factor or phenomenon
which is of interest to researcher.
A workable research question
Variable
a characteristic, number, or quantity that can be measured or counted
and that can assume different values
Theory
A conceptual scheme based on foundational statement, axioms, that are
assumed to be true.
Research design is a blueprint of conducting marketing research.
Literature review discusses published information in a particular subject
area, and sometimes information in a particular subject area within a
certain time-period
Exploratory Research
Primary objective is to provide insights into and comprehension of
the problem situation.
Conclusive research
Research designed to assist the decision maker in determining,
evaluating, and selecting the best course of action
Cross-sectional Research
A type of research design involving the collection of information
from any given sample of population elements only once.
Longitudinal design
A type of research design involving a fixed sample of population
elements that is measured repeatedly.
Causal Research
A type of research where the major objective is to obtain
evidence regarding cause and effect relationships
Primary Data/Research
Data originated by the researcher for specific purpose of
addressing the research problem
Secondary Data/Research
Data collected for some purpose other than the problem at hand.
Qualitative research
An unstructured exploratory research methodology based on
small samples that provides insights and understanding of the
problem setting
Quantitative research
A research methodology that seeks to qualify the data and
typically applies some form of statistical tools
Difference between Qualitative and
Quantitative research
Qualitative research types
Direct- Focus group; Depth interviews
Indirect- Projective techniques
Focus Group:
An interview conducted by a trained moderator in an unstructured
and natural manner with a small group of
respondents-homogenous in terms of demographic and
sociographic characteristics.
Procedure for conducting focus group
• Determine objective
• Specify objectives
• State questions
• Write a screening questionnaire
• Develop a moderator’s outline
• Conduct focus group interviews
• Review recordings
• Analyse and summarize findings
What could be the advantages and disadvantages of focus group
Depth interviews
• An unstructured, direct personal interview in which a respondent is
probed by skilled interviewer.
Projective techniques
An unstructured and indirect form of questioning that encourages the
respondent to project their underlying motivations, beliefs, etc.
1. Association techniques
2. Completion technique
3. Construction technique
4. Expressive technique
Other Qualitative techniques
• Ethnography: a qualitative research method that involves
studying people in their own environment to understand how
they function
Analysis of Qualitative research
Coding/making themes/memos/strings
Data linkages
Q: Should Qualitative be exploratory or conclusive?
Descriptive Research
Surveys
• Telephone
• Personal
• Mail
• Electronic
Observations
• Personal
• Mechanical
• Content Analysis
• Trace Analysis
Survey
A structured questionnaire give to a sample of a population and
designed to elicit specific information
Observation methods
The recording of behavioral patterns of people, objects, and
events in a systematic manner to obtain information about
phenomenon.
Structured
Unstructured
Questions to be discussed in class
• Is descriptive research exploratory or conclusive
• Is qualitative always exploratory
Content Analysis:
Phenomenon of observation is communication, rather than a behaviour
Includes observation as well as analysis
Unit of analysis is words, characters, themes, space and time
measures
Trace Analysis:
Data collection is based on physical traces, or evidence of past
behaviour
Ethnography:
Study of human behavior
Disadvantages of Survey
• Response bias
• Low response rates
• Measurement errors
• Social desirability bias
Causal Research-Experimentation
Causality:
When the occurrence of X increases/decreases the probability of
occurrence of Y.
Independent Variable
Dependant Variable
Test Unit: Individuals, organisations or entities whose response to
IVs or treatments is being studied
Extraneous Variables
Classification of experimental design
True experimental design:
Researcher can randomly assign test units to experimental
groups and also randomly assign treatments to experimental
groups
Pretest-posttest
Posttest only
Quasi-experimental design:
Lack of random assignment of subjects to experimental group
Time series
Factorial design
