Essentials of Business Research
Methods - Hair
Research Def. - correct answer-a discerning pursuit of the truth
Business Research - correct answer-seeks to predict and explain phenomena
that, taken together, constitute the ever-changing business environment. A
truth-seeking function that gathers, analyzes, interprets, and reports
information so that business decision makers become more effective.
Elements of Bus. Res. - correct answer-1. Involves the study of of people,
systems, interaction between people and systems
2. Can be FORMAL - undertake systematic approach
3. Can be INFORMAL - ongoing feedback
4. It's REPLICABLE
5. Provides more benefits than it COSTS
Applied Business Research - correct answer-an attempt to solve a particular
problem faced by a particular organization (ex. Coke wanting to know why
Pepsi is gaining more market share in Paris.)
Basic Business Research - correct answer-A desire to better understand
some business as it applies to an entire industry (ex. Why are people drinking
more bottled water and less coke?)
What do Business Researchers Study (Marketing) - correct answer-1. New
Product Development
2. effectiveness of promotional efforts
3. brand image
4. customer satisfaction
5. brand and product positioning
What do Business Researchers Study (Manufacturing/MNG) - correct
answer-1. Identifying processes that create the optimal mix of product and
service quality,
2. understating employee job satisfaction
3. employee performance
4. employee turnover.
, What do Business Researchers Study (Generic) - correct answer-1.
alternatives that require different levels of capital
2. New Business Models
3. Accounting Rules -
4. Industrial Change (ex. e-commerce and the fee to exchange free info.
online)
Trends Impacting Business Research - correct answer-1. Expanding Market
Freedoms
2. International Research
Relationship Marketing - correct answer-emphasizes long-term interactions
between a business and its stakeholders. Seeks to identify mutually beneficial
exchanges where both the firm and the stakeholder maximize value.
Relationship marketing is changing research in terms of whom and what is
studied.
Popular trends in Research
3 Cs & 1 E - correct answer-1. Customer share - the proportion of resources a
customer spends with one firm in a given competitor set (ex. Customers who
patronize McDonalds 5 out of 10 times have a 50% customer share)
2. Customer Churn - the annual turnover rate of customers (ex. Wireless
phone turnover)
3. Customer Commitment - the degree to which customers identify with the
values of a firm. (Customers are willing to sacrifice to maintain valuable
relationships)
4. Employee Relations - (stresses from dual income means less free time and
innovative programs are designed to help employees cope with this - like with
child-care support)
Information Revolution
pg. 18 / Exhibit 1.4 - correct answer-- Card Reader - an outdated method of
recording data through a computer
- Electronic communication - email, video conferencing, VoIP
Methods - Hair
Research Def. - correct answer-a discerning pursuit of the truth
Business Research - correct answer-seeks to predict and explain phenomena
that, taken together, constitute the ever-changing business environment. A
truth-seeking function that gathers, analyzes, interprets, and reports
information so that business decision makers become more effective.
Elements of Bus. Res. - correct answer-1. Involves the study of of people,
systems, interaction between people and systems
2. Can be FORMAL - undertake systematic approach
3. Can be INFORMAL - ongoing feedback
4. It's REPLICABLE
5. Provides more benefits than it COSTS
Applied Business Research - correct answer-an attempt to solve a particular
problem faced by a particular organization (ex. Coke wanting to know why
Pepsi is gaining more market share in Paris.)
Basic Business Research - correct answer-A desire to better understand
some business as it applies to an entire industry (ex. Why are people drinking
more bottled water and less coke?)
What do Business Researchers Study (Marketing) - correct answer-1. New
Product Development
2. effectiveness of promotional efforts
3. brand image
4. customer satisfaction
5. brand and product positioning
What do Business Researchers Study (Manufacturing/MNG) - correct
answer-1. Identifying processes that create the optimal mix of product and
service quality,
2. understating employee job satisfaction
3. employee performance
4. employee turnover.
, What do Business Researchers Study (Generic) - correct answer-1.
alternatives that require different levels of capital
2. New Business Models
3. Accounting Rules -
4. Industrial Change (ex. e-commerce and the fee to exchange free info.
online)
Trends Impacting Business Research - correct answer-1. Expanding Market
Freedoms
2. International Research
Relationship Marketing - correct answer-emphasizes long-term interactions
between a business and its stakeholders. Seeks to identify mutually beneficial
exchanges where both the firm and the stakeholder maximize value.
Relationship marketing is changing research in terms of whom and what is
studied.
Popular trends in Research
3 Cs & 1 E - correct answer-1. Customer share - the proportion of resources a
customer spends with one firm in a given competitor set (ex. Customers who
patronize McDonalds 5 out of 10 times have a 50% customer share)
2. Customer Churn - the annual turnover rate of customers (ex. Wireless
phone turnover)
3. Customer Commitment - the degree to which customers identify with the
values of a firm. (Customers are willing to sacrifice to maintain valuable
relationships)
4. Employee Relations - (stresses from dual income means less free time and
innovative programs are designed to help employees cope with this - like with
child-care support)
Information Revolution
pg. 18 / Exhibit 1.4 - correct answer-- Card Reader - an outdated method of
recording data through a computer
- Electronic communication - email, video conferencing, VoIP
