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Date Created: 11/14/15
Running head: BUSINESS RESEARCH 1 Business Research Methods Team D QNT/561 BUSINESS RESEARCH 2 Business Research Methods With regards to Team D’s Week 4 assignment, the rating survey spoke to the difference in product solution between blue collar consumers and those wanting the same products from a competitor. With respect, the Team is searching to see if consumers use the same products from WalMart, as they would the competitor, Target, or if they simply are choosing a product off of the basis of what its sole purpose is. In the survey, there are multiple research questions, but we did not specify a product of choosing. The product we are choosing is the TomTom XXL 550M Portable GPS, which both companies sell. Potential Challenges to Validity Validity takes in the entire experimental concept and establishes whether the results meet all of the requirements of the scientific research method. Even if the results are exactly what you may want them to be, if the design (survey) is incomplete and inconsistent, than it could potentially compromise the integrity of your research. Now the potential challenges with facing validity, within the research question, is whether the results of the study are going to be legitimate because of the way the consumers and products were chosen and how any data was recorded. That will encompass the internal portion of validity. On the external side, the results are factored into whether other populations (stores, manufactures, etc.). For example, a study surveying middle aged African American females will not work for middle aged Hispanic men, which is why we took the action of using a particular product that is used across the boards. Potential Challenges to Reliability The basis of reliability is to be repeatable and more than a one off finding. Other researchers must be able to use the same research, conditions, and experiment and be able to BUSINESS RESEARCH 3 generate the same results. That is the reason why the research data and survey questioning is important to be specific to the conclusion the researcher is looking for. A potential challenge with reliability is the purpose of using human judgment. If, within an experiment, human judgment can vary widely and cause concern during the conclusion of research data. Reliability ties into the validity and ensures that the information can be repeatable and used for more than one purpose. Minimizing These Challenges In order to minimize these challenges, the team can take certain steps to ensure success of the research process and any results that are incorporated. These steps include the following: Ensuring that any data collected is consistent and relevant Ensure that the research process and information is universal Be able to hold a conclusion without the use of human judgment Be able to specify the statistical data and ensure it is correct and accurate Also, be able to know the difference between the internal and external validity In regards to the survey example, the below updated survey will be able to serve as direction relation to this assignment. Appendix A Research Questions Consumers Will Answer Rating Survey 1. Is this your first purchase from WalMart? BUSINESS RESEARCH 4 Yes / No 2. What was your primary reason for choosing to purchase from WalMart? 3. Please indicate how much you like the overall use of the TomTom XXL 550M I dislike it very much I enjoy it very much 1 2 3 4 5 6 7 8 9 10 4. Is this a product you will use on a consistent daytoday basis? Yes / No / Somewhat 5. Have you purchased this product from WalMart or another company before? (IF NO, skip the next question.) Yes / No 6. When was the last time you purchased this product? Less than 1 year ago / More than 1 year ago / Never received one 7. Did another company and/or product influence your decision to buy from WalMart? Yes / No IF YES, indicate how much it influenced your decision to purchase from WalMart and not a competitor (Please indicate below.) Very little Very much 1 2 3 4 5 6 7 8 9 10 8. When was the last time you shopped with WalMart (or sister companies)? (i.e. Neighborhood WalMart, Sam’s Club, etc) Less than 6 months ago / More than 6 months ago / Never 9. How likely will you be to purchase this product from WalMart again? Not likely Very likely 1 2 3 4 5 6 7 8 9 10 10. Did you make this decision based upon brand, pricing, or a combination of factors? BUSINESS RESEARCH 5 Price / Brand / Combination IF COMBINATION, please explain below: Thank you for your time! Please feel free to use the space below to write any additional comments pertaining to your purchase. (Limit 100 words or less) The rating survey above speaks to the relevance of the product, TomTom XXL 550M, and what made the consumer purchase that product. It also speaks to whether the consumer thought to purchase the product from a direct competition, being Target, and how that decision may influence. Before Team D formulated the survey questions the following discussion was developed below: Appendix B BUSINESS RESEARCH 6 Research Questions We Will Answer 1. Why do product prices fluctuate despite being the same item? 2. What variables to address when pricing products possessing same special features or amenities? 3. Are products that are accessible in multiple stores worth less? 4. Does the presence of knowledgeable sales representatives boost the consumer purchases? 5. Are products in certain areas consistently priced higher? 6. What factors most affect the sale price? 7. What factors least affect the sale price? 8. How can we prove that the prices and business are not the only deciding factors of the sales ratio (consistency)? Appendix C The possible outcomes and conclusions of Team D research is below: 1. The sale price of a product increases when the location is in a less desirable area, such as those close to the center of a city or in a desirable township. 2. Product prices generally increase when the business demand is low. 3. Product prices increase as the total demand increase. 4. Product prices and sales are based on many variables, each variable developing an influence on the final sale price. BUSINESS RESEARCH 7
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