1. Business Research MethodsCluster, Anova analysis and Research Reports.
2. Arrange the cluster in a hierarchy. — Computing the similarities among the entities.— Definition on which the measurement to be made (Eg. Product attributes, buyer characteristics, employees’ qualification)— Selection of the sample to be clustered(buyers, products, employees).—Steps of Cluster Analysis
3. Baskin Robbins , was interested in expanding its customer base. The objective was to identify potential consumer segments that could generate additional sales. Gedemography, a method of clustering consumers based on geographic, demographic and lifestyle characteristics, was employed for this purpose. Primary Research was conducted to develop demographic and psychographic profiles of Baskin-Robbins users, including frequency of purchase, time of the day they came in, day of the week and other product use variables. The addresses and zip codes of the respondents were also obtained. The respondents were then assigned to 40 geodemographic clusters based on the clustering procedure.It was then used for expanding customer base and develop suitable advertising strategy to attract more customers. —Example of Cluster Analysis
4. One – Way Analysis of Variance involves only one categorical variable, or a single factor. The differences in preference of heavy, medium, light and non users would be examined by One-way — It is a statistical technique. It is used to test the equality of three or more sample means. Based on the means, inference is drawn whether samples belong to same population or not.—ANOVA – One Way and TwoWay Classification (Analysis ofVariance)
5. Do retailers, wholesalers and agents differ in their attitudes toward the firm’s distribution — Do the brand evaluations of groups exposed to different commercials vary?— Do the various segments differ in terms of their volume of product consumption?—One –way Analysis of varianceMarketing researchers are often interested in examining the differences in the mean values of the dependent variable for several categories of a single independent variable or factor.For eg.
6. Samples drawn from a population follows random variation.Following are the steps followed in ANOVA:a) Calculate the variance between samples.b) Calculate the variance within samples.c) Calculate F ratio using the formula. F = Variance between the samples/Variance within the sampled) Compare the value of F obtained above with the critical value of F such as 5% level of significance for the applicable degree of freedom.e) When the calculated value of F is less than the table value of F, the difference in sample means is not significant and a null hypothesis is accepted. On the other hand, when the calculated value of F is more than the critical value of F, the difference in sample means is — Data normally distributed.— Data should be quantitative in nature.—Conditions for using ANOVA:
7. Example of One-way Analysis ofVarianceThree prices are considered for a new coffee box introduced by Nutrine company. Price of three varieties of toffee boxes are Rs. 39, Rs. 44 and Rs. 49. The idea is to determine the influence of price levels on sales.
8. Do educational levels(less than high school, high school, and coll— How do advertising levels (high, medium and low) interact with price levels (high, medium and low) to influence a brand’s sale?— How do the consumer’s intentions to buy a brand vary with different levels of price and different levels of distribution?—Two-way Analysis of VarianceIn marketing research, one is often concerned with the effect of more than one factor simultaneously. For eg.ege graduate) and age (less than 35, 35-55, more than 55) affect consumption of a brand?
9. The procedure to be followed to calculate variance is the same as it is for the one- way classification.A major advantage of this technique is that it enables the researcher to examine interactions between the factors. Interactions occur when the effects of one factor on the dependent variable depend on the level of the other factors.Example: A firm has four types of machines – A,B,C,D. It has put four of its workers on each machines for a specified period, say one week. At the end of one week, the average output of each worker on each type of machine was calculated.
10. Components of written research report. — Research Report: Oral Report, Written Report reports , Types and Advantages/Disadvantages of oral and written reports
11. Management’s decision to undertake marketing research in the future or to use the particular research supplier again will be influenced by the perceived usefulness of the report and the presentation. — Management decisions are guided by the report and the presentation.— They are the tangible products of the research effort.—ReportA report is a very formal document that is written for a variety of purposes, generally in the sciences, social sciences, engineering and business disciplines.Generally, findings pertaining to a given or specific task are written up into a report.Importance of the Report
12. Oral Report – This type of reporting is required, when the researchers are asked to make an oral presentation. Making an oral presentation is somewhat difficult compared to the written report.Nature of an Oral PresentationOpeningFinding/ConclusionRecommendationMethod of presentation: Visuals, if need to be exhibited, can be made use of. The use of tabular form for statistical information would help —Types of ReportThere are two types of report:
13. The presenter should know the purpose of — The presenter should know his target audience well in advance to prepare tailor-made presentation.— Vital data such as figures may be printed and circulated to the audience so that their ability to comprehend increases, since they can refer to it when the presentation is going on.— Use of charts, graph, etc, will enhance understanding by the audience.— Time management should be adhered.— Language used must be simple and understandable.—Points to remember in oralpresentation
14. Guidelines for Oral Presentation Employ visual aids Help audience to Hold interest of Use transparency slides grasp the audience information Avoid reading the report Audience will lose Interaction is blocked Mention high points interest by reading
15. KYA Know Your audience Executives at Presentation Suit your report to various levels need should satisfy audience different especially the main information audience Plan and deliverMake the presentation Follow time Main points to be effective management covered within the allotted time
16. Government report — Formal Report— Informal Report— Non-Technical Report— Technical Report— Long Report— Short Report – When the problem is very well defined and if the scope is limited. For eg. Monthly sales report— Yearly— Quarterly— Monthly— Weekly— Daily—Various types of writtenReportstime interval such asBased on the
17. Distinguish between Oral and WrittenReport Oral Report Written Report i) No rigid standard format i) Standard format can be ii) Remembering all that is said is adopted. difficult if not impossible. This is ii) This can be read a number of because the presenter cannot be times and clarification can be interrupted frequently for sought whenever the reader clarification. chooses. iii) Tone, voice modulation, iii) Free from presentation comprehensibility and several problems. other communication factors iv) Mistakes, if any can be play an important role. pinpointed and corrected. iv) Correcting mistakes, if any is v) Not applicable. difficult. vi) The reader can pick and v) The audience has no control choose what he thinks is over the speed of presentation. relevant to him. For instance, vi) The audience does not have the the need for information is choice of picking and choosing different for technical and non- from the presentation. technical persons.
18. Executive Summary – It is an extremely important part of the report, as this is often the only portion of the report that executives read. The summary should concisely describe the problem, approach, and research design that was adopted. A summary section should be devoted to the major results, conclusions and recommendations. The executive summary should be written after the rest of the report has been completed. — Table of Contents – List the topics covered and the appropriate page numbers.— Letter of authorization – Written by the client to the researcher before work on the project begins.— Title Page – Title of the report, information (name, address, and telephone number) about the researcher or organization conducting the research, the name of the client for whom the report was prepared, date of release and nature of the project.—Report Format (Layout of the Research)
19. Data Analysis – Describe the plan of data analysis and justify the data analysis strategy and techniques used. — Research Designa) Type of Research designb) Information needsc) Data collection from secondary sourcesd) Data collection from primary sourcese) Scaling techniquesf) Questionnaire development and pretestingg) Sampling techniquesh) Fieldwork— Approach to the problem – Broad approach that was adopted in addressing the problem.— Problem definitiona) Background to the problemb) Statement of the problem—
20. Annexure – Graphs, Tables and Questionnaire should be attached. — Bibliography – Mention the title of the books and websites referred for the purpose of research.— Conclusions and Recommendations— Limitations – Limitations caused by time, budget and other organizational constraints should be presented.— Results – Should be organized in a logical way.—
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