Chapter 8

Research Process

1. Define the research problem and establish research objectives (most important) 2. determine the sources of information to fulfills the research objectives 3. Consider the costs and benefits of the research effort 4. Gather the relevant data from secondary or primary sources, or both 5. Analyze, interpret, and summarize the results 6. Effectively communicate the result to decisions

Analogy

Assumes that demand for a product develops in much the same way in all countries, as comparable economic development occurs in each country

Secondary Data

Data collected by an independent agency or individual other than the firm conducting research; often useful in market research

Expert Opinion

Experts are pooled from their opinions about market seize and growth rates

Back Translation

The process in which a document, such as a questionnaire, or phrase in translated from one language to another and then translated by a second party into the original language. Back translation can be used to verify that the first translation, as of a marketing slogan, has the intended meaning for the targeted audience

Parallel Translation

a method of translation in which two translators are used to make a back translation; the results are compared, differences are discussed, and the most appropriate translation is used. the method addresses the use of common idioms in the language being translated

Defining the problem importance

begin with a definition of the research problem and the establishment of specific research objectives Must be certain the problem definition is sufficiently broad to cover the whole range of response possibilities and not be clouded by his or her SRC Once the problem is adequately defined and research objectives established the research must determine the availability of the information needed

Triangulation

comparing estimates produced by different sources

Primary Data

data collected, as in market research, specifically for a particular research project

qualitative research

if questions are asked, they are almost always open-ended or in depth, and unstructured responses, including story telling.

Quantitative Research

usually a large number of respondent are asked to reply either verbally or in writing to structured questions using specific response format