Throughout the length of this paper various research methods will be analyzed through various perspectives and efforts will be made to develop an understanding of using research methods and findings in the most efficient manner possible…
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The paper tells that with the advancement of technology and emergence of the concept of consumerism to the surface, customers have become ever more dominant and powerful in the marketplace. Nowadays all the companies shed off myopic ideas and try to incorporate consumer’s will in the decision making process. This is particularly important because customer satisfaction is the ultimate objective that leads to profitability and endurance in organizations. To attain stability, organizations spend millions of dollars today on their Research and Development departments to get the best and most accurate knowledge regarding consumer behaviour and expectations. This knowledge and information is utilized by organizations in improving their processes to meet the demands and requirements of the customers and thus deliver a “wow experience” every time the customer interacts with the offering. In other words, this shall not be exaggeration to state that, research is one of the key pillars to success of an organization, in the contemporary market dimensions. Any idea or tactic backed up by research findings is more durable and dependable then something that is implemented out of the blue. Research does not only assist organizations in deciding which route to success shall be adopted, in fact contingency measures and sporadic adjustments to deviations and evaluation of the implementation are some of the broad areas that are addressed at length by researches. (Thornton, 2010). Throughout the length of this paper various research methods will be analyzed through various perspectives and efforts will be made to develop an understanding of using research methods and findings in the most efficient manner possible. Analysis of Research Methods The above diagram is a representation of a general research process. Though 5 major steps are shown in the diagram in a systematic manner, but in real life scenario one stage may precede the other depending upon the requirements of the researchers and the nature of the research itself. While conducting our research we followed the above systematic flow of processes for data collection, analysis and reporting of its findings (Collis and Hussey, 2003). Research can be defined as a systematic investigative study conducted to discover answers to questions or solutions to prevalent or future dilemmas. In the commercial scenario, findings of a research may serve to make it or break it for the sponsors of the research. Bearing in mind the model provided in the figure then we see that the process initiates with the discovery of a problem or unanswered question. This is the phase of the research process that occurs voluntarily (Kumar, 2010). Any department of the company shall encounter a problem at any stage and this is completely unavoidable and inevitable (Collis, 2003). The stage that entails the discovery of a problem shall come to the surface unexpectedly and demand a solution on an immediate basis and things could be the other way round too. Therefore this can be said that moving on from one stage to another in the research process may vary from situation to situation (Blaxter et al, 2006). The stage proceeding Discover Stage is known as “Retrieve Stage”. Retrieve stage is a significant phase that shall be carried out with great care and technically sound staff. There are various methods utilizing which this phase can be surpassed. At this stage we were required to determine the sources from which data can be retrieved and the subsequent methodology to be adopted. There are two broad options that were available to the group to get the data from, Primary Resources and Secondary Resources (McBurney, 2009). Secondary resources are considered to be the best sources of information in case the problem that has to be resolved has occurred before in some other department of the company or may be in any other part of the world. Secondary data provides a sound basis to the researchers to construct a framework based on the
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