RMM - Difference between Pure and Applied Research PDF

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Difference between Pure and Applied Research...

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Q1] What is the difference between pure and applied research? Give two examples of each. Basic Research refers to the study that is aimed at expanding the existing base of scientific knowledge. While Applied Research is the research that is designed to solve specific practical problems or answer certain questions. Difference between Pure Research and Applied Research can be summarized as follows : PURE RESEARCH

APPLIED RESERCH

Expands current knowledge

Solves particular life problems

Theoretical and exploratory in nature

Practical and descriptive in nature

Wider scope

More specific scope

Less associated with technology

Associated with advancement of technology

Curiosity-driven

Client-driven

Less often appear in academic publications

More often appear in academic publication

Takes place in steril environment

Occures in real world settings

Developing scientific knowledge and prediction Development of technology and technique

Examples of hypothesis of a Basic Research: 

Business strategy is important for the success of a long term business plan.

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Preservation increases the life of foods.

Examples of hypothesis of a typical Applied Research: 

Proper placement of products leads to improved sales.

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Is manual ordering of products from warehouse productive that automated ordering?

Q2] What is the significance of RMM in marketing and consumer behavior? Research is very important in the marketing. In marketing the companies use to market their products in order to sell them and to make familiar with the consumers with the products. However there is strong need for research in the marketing. Many companies use the research in marketing to discover the changing trends in the market, to measure the changing consumer behavior of the specific location. So research has become the need for the business due to the tough competition in the market. So many companies are doing different research for their product development, for increasing their sales volume. Market research is for discovering what people want, need, or believe. It can also involve discovering how they act. Once that research is completed, it can be used to determine how to market our product. Research on consumer behavior is the systematic collection of data regarding customers’ preferences for actual and potential products / services. It establishes questions about your intended market and finds relevant answers. Consumer behavior research is needed to ensure that we produce what customers really want and not what we think they want. The ultimate goal of consumer behavior research is to serve as the voice of the consumer. These research focuses on understanding the consumer as a person by focusing on exploring his or her attitudes, needs, motivations, and behavior as it relates to a product or service. More broadly, consumer research helps to provide a company with relevant, reliable, valid, and current information on their target buyer. Consumer market research aims to identify, understand, and analyze customers and their needs. It is also important to note that consumer market research is not directly synonymous with marketing research. Marketing research is actually comprised of both consumer and business-to-business research and examines all aspects of a business environment, whereas consumer behavior research is solely focused on the consumer.

Q3] Give five examples of exploratory researches? Exploratory research is defined as a research used to investigate a problem which is not clearly defined. It is conducted to have a better understanding of the existing problem, but will not provide conclusive results. For such a research, a researcher starts with a general idea and uses this research as a medium to identify issues that can be the focus for future research. An important aspect here is that the researcher should be willing to change his/her direction subject to the revelation of new data or insight. Such a research is usually carried out when the problem is at a preliminary stage. It is often referred to as grounded theory approach or interpretive research as it used to answer questions like what, why and how. Examples : 1. The owner of the ice-cream parlor feels that if he introduced more flavors of ice-creams in his ice-cream parlor it will enable him to get a greater number of customers. to find out this, he carries out exploratory research to determine that expanding the range of flavors of ice-creams will get him more customers or if there is any other better idea. 2. A website, which provides paid online courses conducts a survey to find out how they can increase the number of users for their newly introduced course. For this, they take feedback from their existing users as well as from other potential users. The data collected from the feedback can be used to find out what can be done to increase the number of users who take their course. 3. A manufacturing company plans to expand its product line in order to dominate the market. It will conduct an exploratory research to choose the best among different types of product line expansions available. 4. Research for Implementation of new banking services policies, where aspects to consider such as customer opinion, time savings, productivity or satisfaction. Through this type of research, it is intended to allow the capture of new clients and therefore greater profitability for the financial institution 5. A study into the role of social networking sites as an effective marketing communication channel

Q4] Give examples of 1) Nominal scale 2) rank order 3) interval and 4) Ratio scale. 1. Nominal Scale : a scale used for labeling variables into distinct classifications and doesn’t involve a quantitative value or order. 

Gender : Male, Female, Other.

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Hair Color: Brown, Black, Blonde, Other.

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Type of living accommodation: House, Apartment, Other.

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Religion: Buddhist, Mormon, Muslim, Jewish, Christian, Other.

2. Rank Order : a variable measurement scale used to simply depict the order of variables and not the difference between each of the variables. These scales are generally used to depict non-mathematical ideas. 

Class ranking: 1st, 9th, 87th…

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Socioeconomic status: poor, middle class, rich.

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Likert Scale: strongly disagree, disagree, neutral, agree, strongly agree.

3. Interval : has values of equal intervals that mean something. For example, a thermometer might have intervals of ten degrees. 

Celsius Temperature.

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Fahrenheit Temperature.

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IQ (intelligence scale).

4. Ratio Scale : Exactly the same as the interval scale except that the zero on the scale means: does not exist. For example, a weight of zero doesn’t exist 

Weight

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Height

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Sales Figures

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Ruler measurements

Q5] Discuss the significance of research designs? The research design is a framework for planning research and answering the research questions. Creating a research design means making decisions about: 

The type of data you need

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The location and timescale of the research

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The participants and sources

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The variables and hypotheses

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The methods for collecting and analyzing data

The research design sets the parameters of the project: it determines exactly what will and will not be included. It also defines the criteria by which you will evaluate your results and draw your conclusions. The reliability and validity of your study depends on how you collect, measure, analyze, and interpret your data. Thus A strong research design is crucial to a successful research proposal Importance of Research Design 

It reduces inaccuracy

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Helps to get maximum efficiency and reliability

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Eliminates bias and marginal errors

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Minimizes wastage of time

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Helpful for collecting research materials

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Gives an idea regarding the type of resources requires in tems of money, manpower, time, and efforts

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Guides the research in the right direction...