Marketing
EXPLORATORY RESEARCH
Exploratory research is conducted to clarify ambiguous problems. Management may have discovered general problems, but research is needed to gain better understanding of the dimensions of the problems. Exploratory studies provide information to use in analyzing a situation, but uncovering conclusive evidence to determine a particular course of action is not the purpose of exploratory research. Usually, exploratory research is conducted with the expectation that subsequent research will be required to provide conclusive evidence, It is a serious mistake to rush into detailed surveys before less expensive and more readily available sources of information have been exhausted.
In an organisation considering a program to help employees with childcare needs, for example, exploratory research with a small number of employees who have children might determine that many of them have spouses who also work and that these employees have positive reactions to the possibility of an on-site child-care program. In such a case exploratory research helps to crystallize a problem and identify information needs for future research.
EXPLORATORY RESEARCH METHODS
The quickest and the cheapest way to formulate a hypothesis in exploratory research is by using any of the four methods:
• Literature search
• Experience survey
• Focus group
• Analysis of selected cases
Literature Search
This refers to "referring to a literature to develop a new hypothesis". The literature referred are - trade journals, professional journals, market research finding publications, statistical publications etc Example: Suppose a problem is "Why are sales down?" This can quickly be analyzed with the help of published data which should indicate "whether the problem is an "industry problem" or a "firm problem". Three possibilities exist to formulate the hypothesis.
1. The company's market share has declined but industry's figures are normal.
2. The industry is declining and
Exploratory research is conducted to clarify ambiguous problems. Management may have discovered general problems, but research is needed to gain better understanding of the dimensions of the problems. Exploratory studies provide information to use in analyzing a situation, but uncovering conclusive evidence to determine a particular course of action is not the purpose of exploratory research. Usually, exploratory research is conducted with the expectation that subsequent research will be required to provide conclusive evidence, It is a serious mistake to rush into detailed surveys before less expensive and more readily available sources of information have been exhausted.
In an organisation considering a program to help employees with childcare needs, for example, exploratory research with a small number of employees who have children might determine that many of them have spouses who also work and that these employees have positive reactions to the possibility of an on-site child-care program. In such a case exploratory research helps to crystallize a problem and identify information needs for future research.
EXPLORATORY RESEARCH METHODS
The quickest and the cheapest way to formulate a hypothesis in exploratory research is by using any of the four methods:
• Literature search
• Experience survey
• Focus group
• Analysis of selected cases
Literature Search
This refers to "referring to a literature to develop a new hypothesis". The literature referred are - trade journals, professional journals, market research finding publications, statistical publications etc Example: Suppose a problem is "Why are sales down?" This can quickly be analyzed with the help of published data which should indicate "whether the problem is an "industry problem" or a "firm problem". Three possibilities exist to formulate the hypothesis.
1. The company's market share has declined but industry's figures are normal.
2. The industry is declining and