Research is the orderly approach towards purposeful investigation. Thus the term research needs formulating a hypothesis, collection of data on relevant variables, analyzing and interpreting the result and reaching conclusions, either in the form of an explanation or certain generalizations. It can also be called an academic activity and a systematized attempt to gain new knowledge.
Steps in Research process: You have to understand that usually the research process starts with:
The formulation of research problem
Selecting from among various methods of research
Research design
Sample design
Data collection analysis and interpretation of data
Finally ending in a research report. Explanation of the steps involved in a research process:
Identify the Research Problem: A research problem refers to some difficulty, which an organization faces and wishes to obtain a solution for. While undertaking research, defining the problem is very vital because “problem clearly stated is half solved”. This shows how significant it is to “identify the problem correctly”.
Categorize the Methodology: This involves gathering data, use of statistical techniques, interpretations and drawing conclusions about the research data. It is a blueprint which is followed in “the earlier process” to complete the study. It is similar to a builder’s blue-print for building a house.
Finalizing Research Plan: This is one of the significant ladders in marketing research. It helps to achieve the proper objective of the study.
Designing a Research:
A. Problem formulation- The four factors that you should follow here are to determine the objective of the study, to judge various ecological factors, indentify the nature of the difficulty and stating the alternative.
B. Evaluate the cost of research- You have to think about the
References: SMU Textbook- BBA 201, Research Methods.