Market Resarch 1

8/8/2019 Market Resarch 1

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U NIT II- Research Design

- Primary & Secondary Research

- Basic Methods of Data Collection


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R ESEARCH D ESIGNTypes of Research Design


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TYPES OFRESEARCH DESIGN

Exploratory Research Conclusive / Causal Research

a. Search of secondary data a. Descriptive research

b. Survey of knowledgeable person - Case Studyc. Case Study - Statistical Study

b. Experimentation

Usually qualitativedata collected, hence

often calledQualitative research

Usually quantitativedata collected, hence

often calledQuantitative research


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COMPARISIONRESEARCH DESIGN EXAMPLE

Estimated % change in sales volume for 1% increase in price for four productsbased on three methods of data collection

Product FieldExperimentation LaboratoryExperimentation DescriptiveExperimentation

A -1.57 -1.25 -0.33

B -1.27 -0.64 0.71

C -1.58 -0.76 -1.86

D -1.74 1.13 0.35

If there is no constraint of time and cost then Fieldexperimentation is the best choice


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T YPES OF D ATA

Primary data:

I nformation developed orgathered by the researcherspecifically for the researchproject at hand.

I nformation gathered andused first time.

Secondary data:

I nformation that has beenpreviously gathered for someother research work.

I nformation that has beenpreviously used and is notfresh or first time for current

research project.


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M EASUREMENT & S CALINGTypes of Scales


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M EASUREMENT THE CONCEPT

Measuring what?Person or persons

attribute?

How the attributeis measured?

Values range

We don't measure specificobjects, persons, etc.,

BUTwe measure attributes

(CONCEPTS) or featuresthat define them

What variousattributes of person?

More concrete!Education, age, gender,

height, weight

Abstract!Loyalty, satisfaction,

trust, personality,

CorrespondenceRule of Scale

Certain value onscale correspondto true value of

concept

Which ismore difficult

to define &measure?


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M EASURING THE ATTRIBUTES

More concretee.g. Weight

More abstracte.g. behaviour

Attributeof person

(or concept)

ScaleMeasuring

differentpossiblevalues of attribute

How much satisfied you are with thebehaviour of sales person?1-Very satisfied2-Satisfied3-Neither satisfied nor dissatisfied4-Dissatisfied5-Very dissatisfied

What is Scale? A device providing range of values that correspond to different values in a

concept being measured

Range of valuesMeasuring the

attributeof

particularconcept of person


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M EASUREMENT PROCESS

Define conceptsto be measured

ConceptPoor showroom experiencedoes not result in purchase

Defineattributes of the concept

Select scale of measurement

(data type)

Developquestions / items

Designquestionnaire

Pretest & refinequestionnaire

Step 1

Step 2

Step 3

Step 4

Step 5

Step 6

AttributesShowroom experience (ambience, behaviour

and knowledge of sales executive)

ScaleLikert, ordinal or nominal (satisfaction scale,

agreement scale, etc)

QuestionsHow satisfied are you with sales executive?

(Rate using 5-point satisfaction scale)

QuestionnaireHave questions in a structured manner

Finalize the QuestionnaireThis would be used to collect data

finally

Example


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B ASIC M EASUREMENT CONCEPTS

How much satisfied you are with the behaviour of sales person?How much satisfied you are with the knowledge of sales person?How much satisfied you are with the ambience of showroom?

Concept A generalized idea

that representsomething of

meaning

Researcher should know?

What to measureHow to measure

ConstructIt is a concept that is

measured by usingmultiple indicators

Other terms usedfor indicators?

Variable, attributes,aspects

Does one or more than oneattribute provide more

complete & accurateaccount of concept?

1-Verydissatisfied 2-Verydissatisfied

3-Neither

satisfied nor dissatisfied

3-Satisfied 5-Verysatisfied

These are indicators, attributes,

aspects or variable


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M EASUREMENT AND S CALING DEFINED

M easurementStandardized process of assigning

numbers or other symbols to certaincharacteristics of objects of interests

according to pre-specified rulesCharacteristics for Standardization

One-to-one correspondence between thesymbol and the characteristic in theobject that is being measured

Rules for assignment should be invariantover time and the objects beingmeasured

ScalingProcess of creating a continuum on

which objects are located according tothe amount of the measuredcharacteristic that the object

possesses


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T YPES OF SCALES

Nominal Scales

Ordinal Scales

Interval Scales

Ratio Scales


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T YPES OF SCALES NOMINAL

Numbers identify and classify objects

No ordering or spacing are implied

Only possible arithmetic operation is a count of each category(frequency, %, mode)

Examples:Players in a football team

Colors of traffic light

Gender


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T YPES OF SCALES O RDINAL

Objects are ranked in order

Indicates the relative position of objects but not the magnitude of difference

Arithmetic operations are limited to statistics such as median or mode

Examples:Result of 100 meter dashRanking of largest fast food companies (most to leastpreferred, where preference is the concept)


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T YPES OF SCALES I NTERVAL

Object is measured on a continuum

Arbitrary zero point

Differences between objects can be compared

Entire range of statistical operations can be employed (mean,

correlation, ANOVA, regression)Examples:

TemperatureAttitudes


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T YPES OF SCALES I NTERVAL

Thermometer

Fahrenheit units

on the outer scale

Celsius units onthe inner scale

On the Fahrenheitscale, the freezing

point of water is 32Fahrenheit (F) and the

boiling point 212Fplacing the boiling

and freezing points of water exactly 180F

apart.

On the Celsiusscale, the

freezing andboiling pointsof water are100 degrees

apart.


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T YPES OF SCALES R ATIO

Interval scale with fixed zero pointRatio of scale values can be computed

Examples:Weight, lengthAgeStore salesMarket shares


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ExampleAntique watch X sold for $50

Authentic watch Y sold for $75

Antique watch Z sold for $100

Antique watch B did not sell andthere were no takers for free

Researcher should know?What is the - nominal conclusion?

- ordinal conclusion?- interval conclusion?- ratio conclusion?


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ExampleAntique watch X sold for $50

Authentic watch Y sold for $75

Antique watch Z sold for $100

Antique watch B did not sell andthere were no takers for free

Researcher should know?What is the - nominal conclusion?

- ordinal conclusion?- interval conclusion?- ratio conclusion?


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T YPES OF SCALES P ROPERTIES

Type of Scale Numerical Operation Descriptive Statistics

Nominal Counting Frequency in each category,percentage in each category, mode

Ordinal Rank Ordering M edian, range, percentile ranking

Interval Arithmetic Operationson Intervals betweennumbers

M ean, standard deviation, variance

Ratio Arithmetic Operationson actual quantities

Geometric mean, coefficient of variation


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CRITERIA FOR SCALE SELECTION

Understanding of the questionsDiscriminatory power of scale descriptorsBalanced versus unbalanced scales

Forced or nonforced choice scalesDesired measure of central tendency anddispersion


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T YPES OF SCALES L IKERT S CALE

A likert scale isan ordinal scale format that,

asks respondents

to indicate the extent to whichthey agree or disagree

with a series of mental or behavioral belief

statements about a given object


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T YPES OF SCALESL IKERT SCALE E XAMPLE

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