Potential Sources of Error Sources of Data and its Evaluation Research Design: It is a framework or blueprint that is conducted for market research. Also, deal with processes that are necessary to gain the information needed to solve the research problems. Component of Research Design Determine the Design (exploratory, Descriptive) Construct, and pretest form) or an appropriate questionnaire (interviewing form for data collection Specify the sampling process and sample size Develop a plan of data collection and analysis A Classification of Marketing Research Designs Exploratory Research Design Conclusive Research Desi Causal Research Exploratory Research As its name implies, the objective of exploratory research is to explore or search through a problem or situation to provide insights and understanding.
Is used in situations where it requires to: Formulate or define a problem more precisely Identify alternative courses of action, Develop hypotheses formulated, isolate key variable future examinations, Gaining insights before developing a problem Establishing priorities for further research. Methods of Exploratory Research Survey of experts Pilot surveys Secondary Data Qualitative research Conclusive research is a research design that is undertaken to assist the Conclusive research would be used to test specific hypotheses, examine specific relationships, or make predictions.
It is of two types:
- Descriptive research
- Causal Research, Exploratory & Conclusive Research-
Characteristics: Findings /Results: Outcome: To provide insights and understanding.
Information needs to be defined loosely. The research process is always flexible also unstructured. The sample is always small and it is not representative.
Analyze Primary Data:
Will always be qualitative, Tentative.Further exploratory or conclusive research.
If you want to do a specific hypothesis and try to examine the relationship then information is needed clearly defined For the research process formally and structurally.
Findings using input for decision making.
The objective is to describe something like market characteristics or functions. Descriptive research will be conducted for the following reasons: If you want to describe the characteristics of a group such as consumers, or salespeople To an organization or market then Need to determine the percentage of product characteristics. Descriptive research Secondary data is measured always by qualitative Surveys Panels Descriptive Research requires a clear specification of 6Ws:
- Who – who should be considered a consumer of a particular product
- Where -where should the respondents be contacted
- When – when should the information be obtained from respondents
- What – what information was obtained from respondents
- Why – why we obtained the information 6. How – How it will be utilized Way – the possible ways in which we are going to obtain information from the respondents.
Advertising studies that describe media consumption habits and audience profiles for specific television programs and magazines. Cross-sectional Designs The cross-sectional study is the most frequently used descriptive design in marketing research. It involves that identify the population and based on a given sample of the population the element is only once.
It is of two types:
- Single cross-sectional: A research design, where there is only one sample and information obtained from only once.
- Multiple cross-sectional: A research design, where two or more samples respond once. The non-response error arises when some of the respondents do not respond. Response error arises when respondents give inaccurate answers or their answers are misrecorded or misanalyzed. Panels vs Surveys Panel: A panel is defined as a sample of respondents that provide specified information at regular intervals over an extended period of time.
These respondents may be organizations, households, or individuals, although household panels are the most common.
Survey: In conducting a survey it requires that large numbers of respondents use a predesigned questionnaire. The survey the basis of their content as psychographics and lifestyles, advertising evaluation, or general surveys.
Advantages of Panels The major advantages of panel surveys:
Panel data, over multiple periods, enable us to examine changes in the behavior of individual units Relatively large amounts of data can be gathered.
The researcher can collect more detailed data regarding the primary variables of interest.
The data collected is more accurate because of the support between the panel members and the sponsoring organization.
Disadvantages of Panels Not representative.
No representative arises mainly because of refusal to cooperate, lost interest, moving out also payment that may attract certain types of people to panels.
Over a period of time maturation sets in and the panel members must be replaced. Response biases may occur as simply being on the panel may alter behavior.
Analysis: When we will do research then we need to ensure about few things: What, When, Where, Why, and How
All 5 titles have explanations in descriptive research such as if we want to do paragraphs then we have to identify those in a short way. But if it is long then we have to analyze it so long based on the hypothesis. Also, all will have problems but we need to give solutions. Quantitative, it talks about specific and it could be in a scientific or mathematical way. So both we different part. But based on the problem, we need to give solutions.
As an example of the hypothesis of Load Shedding
Load shedding is like when we are facing the Lack of energy then it makes load shedding.
Load shedding is like happening in houses like offices, corporate offices, and many particular areas.
In official time we are facing load shedding. In many undeveloped countries, students want to study. At night time and that time because of the lack of electricity, we may face load shedding.
If I give an example of Bangladesh then I can say that in Dhaka City, Chittagong City, and the rural area like we are facing the load shedding problem. It happens for a lack of energy. Sometimes the country cannot manage a lot of energy because of less money and it clears load shedding.
There are some reasons of happening load shedding. Such as because of lack of energy we are facing load shedding.
On the other hand, if the government doesn’t have enough money to implement in the energy sector then we are facing load shedding. Moreover, people are spending too much energy and they are not aware of it. Expanding energy and how to utilize that energy. When they left their home, they are not switching off their light or fan as a result of we are facing load shedding problems.
There are the positive and negative sides the load shedding. Moreover, load shedding has a negative side. Some people say that load shedding has a positive impact and other people say that load shedding has a lot of negative sides. Hence load shedding Create a big problem. Any country and they’re facing a lot load shedding problems.
Solve this load shading problem. Government should take the initiative decision To tackle the load-shedding problem. Also, need to be aware people whether they use a certain amount of energy whenever they need it, but don’t use too much. And we spent too much energy that will Lose our energy sector.