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Research methodologyResearch methodologyResearch= Re+ SearchResearch= Re+ SearchResearch refers to a search of knowledgeResearch refers to a search of knowledgeResearch is an art of scientific Research is an art of scientific

investigationinvestigation³Research is a careful investigation or ³Research is a careful investigation or

inquiry especially through search for new inquiry especially through search for new facts in any branch of knowledge.´ facts in any branch of knowledge.´

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Scientific method and researchScientific method and research

processprocessUse of techniques of science in researchUse of techniques of science in researchTo get better research resultsTo get better research resultsResearch is conducted in an objective and Research is conducted in an objective and

systematic manner systematic manner ± ± more benefit to firmmore benefit to firmIndia, many firms are still using the traditional India, many firms are still using the traditional

methods viz, intuitions, hunches, judgment,methods viz, intuitions, hunches, judgment,experience etc experience etc

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DefinitionDefinition

³Research is the systematic and objective identification, collection,analysis, dissemination (distribution)and use of information for the purposeof improving decision making related to the identification and solution of problems and opportunities in any

field.´

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Obj ectives of the researchObj ectives of the research

To discover answers to questionsthrough the application of scientific proceduresTo find out the truth which is hidden

and which has not been discovered asyet

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ObjectivesObjectives-- contd«contd«To gain familiarity with a phenomenonTo portray accurately the

characteristics of particular individual,situation or a groupTo determine the frequency with which

something occursTo test a hypothesis of causal relationship between variables

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Bu siness ResearchBu siness Research

It is defined as the systematic and objective process of gathering,recording and analyzing data for aid inmaking business decisions

Eg- ITC¶s Food Division conducts asurvey on consumer preference of ready to eat food & Spices

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Scope of Business ResearchScope of Business Research

Need for knowledgeProviding Information for d.mChanging from intuition to systematic and objective investigation

It encompasses all functional specialties

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I mportance of researchI mportance of research

(significance)(significance)Research provides the basis for nearly all government policies in our economic system

Research is important in solving variousoperational and planning problems of business

Research is important for social scientists instudying social relationshipsResearch is important for students, professionals, philosophers, thinkers,

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Applied researchIt is carried on to find solution to a real life problem requiring an action

It is problem oriented and actiondirected Eg., marketing research to develop anew market / product research todevelop a new product- Fair and Handsome & Nicorette

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Exploratory or Formulative research

Conducted to clarify ambiguous problems

Does not provide conclusive evidenceSubsequent research expected Mainly focuses on qualitative dataE.g. ³Absenteeism is increasing, but we don¶t know why.´

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S teps in ExploratoryS teps in Exploratory

ResearchResearchReview of Literature- secondary dataExperience surveys- Informal interview with expertise in relevant field Case studies- intensive study- insight-Sigmund Freud Pilot studies- Any small scaleexploratory study that uses sampling

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Descriptive researchDescriptive researchIt is also called as the Ex-post-factoresearchDescriptive research is a fact finding

investigation with adequate interpretationData Collection is done using one of theappropriate methods: Observation,Interviewing and mail questionnaire.The researcher has no control over the

variables -E.g. frequency of shopping

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Experimental Research ±To assess the effect of one or more

variables on a phenomenon. ±The nature of relationship between

independent and dependent variables is stated in the form of acausal hypothesis. This hypothesisis then tested using the experimental procedure

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Diagnostic Research ±Directed towards discovering what is

happening, why is it happening and what can be done about it.

±Aims at identifying a problem and the possible solutions for it.

±Can also be concerned withdiscovering and testing whether certain variables are associated.

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Evaluation Studies ± It is a type of Applied Research made for

assessing the effectiveness of social or economic (or marketing) programs.

± It aims at assessing and appraising thequality and the quantity of a program and specifies the attributes and conditionsrequired for the success of the program.

± Types of evaluation:Concurrent, Periodic, Terminal

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Analytical Study

±It is a system of procedures and techniques of analysis applied toquantitative data.

±May consist of a system of mathematical models or statistical techniques applicable to numerical data.

±Aims at testing hypothesis and

specifying and interpreting

mr class 1

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