Includes:
Theory / Objective evidence
Analytical model (verbal/graphical/mathematical)
Research question (define it)
Hypotheses (End product in this step)
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Theory/Objective evidence
Theory
Example for choice making related theories:
Theory of rationality,
Bounded rationality Theory
Objective Evidence
Empirical observation (available in literature)
(Davis 1989)
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Research Question
Research questions(RQ):
Refined statements of the specific components of
the problem.
Research Problem(RP):
To determine the customer preference for Amul
packaged Sweets
Research Question(RQ):
Are milk based sweets popular among target audience
What is the perceived quality of packaged sweets
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Research Hypothesis
Hypothesis(H):
An unproven statement or proposition about a factor or
phenomenon that is of interest to the researcher.
Often, a hypothesis is a possible answer to the research
question.
It is mostly about the relationship between two
variables/ two phenomena.
A testable statement
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Illustration
Situation:
Harley- Davidson made such an important comeback in
early 2000s that there was a long waiting list to get
Harley-Davidson bike.
In 2007 market share was about 50% in heavyweight
bike category.
Distributors urging for expansion.
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Problem Definition
MDP:
Should Harley-Davidson invest to produce more
bike?
RP:
To determine if customer would be loyal buyers
of Harley-Davidson
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Approach to Research
RQ:
Who are customers? What are their demographic &
psychographic characteristics?
Can different types of customers be segmented? Is it
possible to segment market in a meaningful way?
How do customers feel regarding their Harleys? Are all
customers motivated by the same appeal?
Are the customers loyal to Harley-Davidson? What is the
extent of brand loyalty?
Approach to Research
RQ:
Can different types of customers be segmented based on
psychographic characteristics?
Hypothesis:
H1: There are distinct segments of bike buyers
H2: Each segment is motivated to own a Harley-Davidson
for a different reason.
H3: Brand loyalty is high among Harley-Davidson
customers in all segment
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