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Chap 001 Business Research Methods

Chap 001 Business Research Methods

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262 views

Chap 001 Business Research Methods

Chap 001 Business Research Methods

Uploaded by

My A
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Chapter 1

Research
in Business

McGraw-Hill/Irwin
Business Research

Copyright 2008 by The McGraw-Hill Companies, Inc. All


Rights Reserved.

1-2

Learning Objectives
Understand . . .
What business research is and how it differs from
business decision support systems and business
intelligence systems.
Trends affecting business research and the
emerging hierarchy of business decision makers.
The distinction between good business research
and research that falls short of professional quality.
The nature of the research process.

1-3

PulsePoint: Research Revelations

23

The percent of firms planning


significant hiring who plan to hire
highly-educated professionals.

1-4

Why Study Business Research?

Business
research provides
information to
guide business
decisions

Research Should Help


Respond to Change
Enterprises have long recognized the need

to better sense and respond to business change.


Whats different today is that ubiquitous access
to information and real-time communications
have fostered an always on business culture
where decision making has become a just-in-time
process.

Business Performance Management Forum

1-5

1-6

Business Research Defined


A process of determining, acquiring,
analyzing, synthesizing, and disseminating
relevant business data, information, and
insights to decision makers in ways that
mobilize the organization to take
appropriate business actions that,
in turn, maximize business performance

1-7

Research Should Reduce Risk


The primary
purpose of
research is to
reduce the
level of risk of
a marketing
decision

Whats Changing in Business


that Influences Research
New
New
Research
Research
Perspectives
Perspectives
Computing
Computing
Power
Power &&
Speed
Speed

Information
Overload

Factors
Factors

Battle
Battle for
for
Analytical
Analytical
Talent
Talent

Technological
Technological
Connectivity
Connectivity
Shifting
Shifting
Global
Global
Economics
Economics
Critical
Scrutiny of
Business

Government
Government
Intervention
Intervention

1-8

1-9

Computing Power and Speed


Lower-cost
Data
Collection
Integration
Integration of
of
Data
Data

Better
Better
Visualization
Visualization
Tools
Tools

Factors
Factors
Real-time
Real-time
Access
Access

Powerful
Powerful
Computation
Computation

Business Planning Drives Business


Research

Organizational
Mission

Business
Goals

Business
Strategies

Business
Tactics

1-10

1-11

Business Decisions and Research


Hagen-Dazs Tactics
Super premium
Dozens of flavors
Small packages
Signature colors on
packaging
Available in franchise
and grocery stores

1-12

Information Sources
Decision Support
Systems
Numerous elements of
data organized for
retrieval and use in
business decision making
Stored and retrieved via
Intranets
Extranets

Business Intelligence
Systems
Ongoing information
collection
Focused on events,
trends in micro and
macro-environments

1-13

Sources of Business Intelligence

Government/
Regulatory

Demographic

Competitive

Economic

Business
Intelligence

Technological

Cultural/
Social

1-14

Hierarchy of Business Decision Makers

Visionaries
Visionaries
Standardized
Decision Makers

Intuitive Decision Makers

1-15

Minute Main and Business Research

1-16

Eastman Kodak has a world-class research


department

1-17

Research May Not Be Necessary


Can It Pass These Tests?
Can information be applied to a critical
decision?
Will the information improve managerial
decision making?
Are sufficient resources available?

1-18

Information Value Chain

Data collection/
transmission

Data
management
Characteristics

Decision
support systems

Data
interpretation
Models

1-19

The Business Research Process

1-20

Characteristics of Good Research


Clearly
Clearly defined
defined purpose
purpose
Detailed
Detailed research
research process
process
Thoroughly
Thoroughly planned
planned design
design
High
High ethical
ethical standards
standards
Limitations
Limitations addressed
addressed
Adequate
Adequate analysis
analysis
Unambiguous
Unambiguous presentation
presentation
Conclusions
Conclusions justified
justified
Credentials
Credentials

1-21

Two Categories of Research

Applied

Basic (Pure)

1-22

Four Types of Studies

Reporting

Descriptive

Explanatory

Predictive

1-23

Key Terms
Applied research
Business intelligence
system (BIS)
Business research
Control
Decision support
system
Descriptive studies
Explanatory Studies

Management dilemma
Predictive studies
Pure research
Reporting studies
Return on Investment
(ROI)
Scientific method
Strategy
Tactics

Appendix 1a
How the
Research
Industry Works

1-25

Who Conducts Business Research?

Some Organizations Use


Internal Research Sources

1-26

Some Organizations Use


External Research Sources

1-27

1-28

Business Research Firms

1-29

Proprietary Research

Decision Analyst, Inc.


uses Internet-based
concept testing
called Conceptor
to examine new
product concepts

1-30

Syndicated Services

Nielsen Media
Research
provides audience
data for television
programs like
Court TV

1-31

Some Syndicated Data Providers

AC Nielsen
Scarborough
Millward Brown
Nielsen Media Research
Roper ASW
CSA TMO
Yahoo!
ORC International

DoubleClick
Nielsen/NetRatings
Taylor Nelson Sofres
Intersearch
J.D. Power Associates
MediaMark
Simmon (SMRB)
BRMB
Information Resources Inc.

1-32

Specialty Business Research Firms


Methodology
Process
Industry
Participant group
Geographic Region

1-33

Communication Agencies

Sales
Promotion

Direct
Business

Advertising

Public
Relations

Consultants and
Trade Associations

1-34

1-35

Trade Associations
NHRA
NHRA
CASRO
CASRO
MRA
MRA
ESOMAR
ESOMAR
BRA
BRA
AMA
AMA
WAOBRP
WAOBRP
MPA
MPA
NAB
NAB

1-36

Many Firms Conduct Research

1-37

Key Terms
Custom Researcher
Syndicated data provider
Full-service researcher Omnibus researcher
Specialty researcher Omnibus study

Chapter 1
Addendum
Research
Timeline

1-39

Information Revolution
1971
First CATI
survey
conducted

1964
OCR
shows
promise
U.S. DOD
commissions
forerunner of
Internet

1968
Word processing
first demonstrated

1973
UPC bar-code
scanning
introduced

1972
Optical laser
disk revealed

1975
Microsoft
is born

1979
First
VisiCalc
ships

1960
1964
IBM
introduces
model 360

1968
SPSS created

1971
Intel introduces first
microprocessor

1973
Basic ideas of
Internet created

1980
Apple owns
50% of
pc market
1976
Apple I
released

1-40

Information Revolution
1987
First
Internet
survey
1981
IBMPC
released

1993
WWW experiences
3,400X growth
in service traffic

1990s
OCR used for
data entry

2001
Online survey
software widely
available

1994
Greenfield Online
Introduces
online focus group

2003
Wal-Mart commits
To use RFID

2002
Web-conferencing
Software
introduced

2008

1980
1987
IRI conducts
first scanner
tracking study

1991
WWW
developed

1996
Internet
World Exposition
held

2002
High-speed
chip technology
for servers

2007
74.9% in
US have
Internet
access

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