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Poor customer service or brand image)
Opportunity – presence of a situation where performance can be improved by undertaking new initiatives (Eg. Arnotts – demand for healthier food)
Symptom – mere evidence that a problem exists (Eg. Loss of market share, drop in sales)
Role of the researcher – once a problem or opportunity has been senses, the researcher comes into the picture
First responsibility is to work with the managers to clearly articulate the management problem whose symptoms have been observed and then to define precisely the research problem (50% of the job)
Three key questions to answer: Why is the information being sought? Does the information already exist? Can the Question really be answered?
Use explanatory research – usually small-scale research undertaken to define the exact nature of the problem and to gain a better understanding of the environment which with the problem has occurred. Eg. What factors lead to brand loyalty? What is brand …show more content…
* Used for prediction and explanation * Variables selected based on theory * Should be able to group the variables into independent and dependant * Non-metric IV’s can be converted to Metric IV’s
Step 1 – Significance testing * Involves testing the significance of the overall regression equation as well as testing the significance of specific partial regression coefficients * Check the overall p value < 0.05 – the overall relationship is statistically significant * If statistically significant we can say R^2 is different from 0
(Only continue if the relationship is significant) Step 2 – strength of association * Measured by the multiple correlation coefficient (coefficient of determination), R^2 * Adjusted R^2 takes the number of IV’s and sample size into account (can compare to different samples) * R^2 shows the predictive accuracy (if you can predict DV perfectly R^2 will be
Opportunity – presence of a situation where performance can be improved by undertaking new initiatives (Eg. Arnotts – demand for healthier food)
Symptom – mere evidence that a problem exists (Eg. Loss of market share, drop in sales)
Role of the researcher – once a problem or opportunity has been senses, the researcher comes into the picture
First responsibility is to work with the managers to clearly articulate the management problem whose symptoms have been observed and then to define precisely the research problem (50% of the job)
Three key questions to answer: Why is the information being sought? Does the information already exist? Can the Question really be answered?
Use explanatory research – usually small-scale research undertaken to define the exact nature of the problem and to gain a better understanding of the environment which with the problem has occurred. Eg. What factors lead to brand loyalty? What is brand …show more content…
* Used for prediction and explanation * Variables selected based on theory * Should be able to group the variables into independent and dependant * Non-metric IV’s can be converted to Metric IV’s
Step 1 – Significance testing * Involves testing the significance of the overall regression equation as well as testing the significance of specific partial regression coefficients * Check the overall p value < 0.05 – the overall relationship is statistically significant * If statistically significant we can say R^2 is different from 0
(Only continue if the relationship is significant) Step 2 – strength of association * Measured by the multiple correlation coefficient (coefficient of determination), R^2 * Adjusted R^2 takes the number of IV’s and sample size into account (can compare to different samples) * R^2 shows the predictive accuracy (if you can predict DV perfectly R^2 will be