Research Methods Business Studies Vancouver -Myassignmenthelp.Com

Question: Discuss About The Research Methods Business Studies Vancouver? Answer: Introduction Digicel a local mobile phone network provider wishes to launch the new iPhone X to the Trinidad Tobago market. Before any company launches a product it first carries out market research in order to find out if the new product will work, make a profit for the company and increase the companies' market share. This research proposal is based on the deductive approach and the final research will attempt to test the hypotheses. In order to decide how feasible it would be for Digicel to launch this new product, this report will explore the approaches used for data collection and interpretation of data using quantitative methods which can provide vital information to help Digicel upper level management in their strategy decision making process Background Of The Study Digicel has been serving businesses and consumers over the Caribbean and Central America since 2001. A mere six (6) years in the Trinidad market, the company has already established forty-three (43) outlets throughout the country. In todays extremely competitive environment, mobile phone technology is constantly evolving especially the iPhone. In September 2017, Apple introduced the long awaited iPhone X for the companys 10th anniversary. This is the companys most expensive product to date which features an all-new design, facial recognition technology and other new features. In this new decade, mobile phones have become an essential part of a persons image and social identity. Digicel TT competitor made an announcement to introduce the new technology to the TT market for Christmas 2017. Consumers can now search online for the products features, compare prices and offers and buy offline. This premium device ranges between US$999 to US$1149.00 and with other taxes can be sold for approximately TTD $9,800 which bears a huge price tag. As the price of the product is extremely high, it might not be affordable for most of the people of Trinidad and Tobago as the country is currently experiencing an economic downfall. However, there are the elites who still will be interested in purchasing the phone. Even though people might prefer the lower versions of the phone, demand for this higher priced latest version might be very limited. Research Aims The aim of this study is to research and determine the viability of launching the new iPhone X to the Trinidad and Tobago market. According to Kotler and Keller (2012, p.98) marketing research is the systematic problem analysis, model building and fact finding for the purpose of improved decision making and control in the marketing of goods and services. The study will seek to analyze the market segmentation and customer demographic by investigating market variables such as geographic, demographic, psychographic and behavioural. Research Questions The following research questions are framed from the aims of the research described above: Is there any significant relationship between the age, income and occupation of the people of Trinidad and Tobago and the demand of the iPhone X in the Trinidad and Tobago market? Is there any significant relationship between the price of the phones of the competitor brands and demand for iPhone X in the Trinidad and Tobago market? What percentage of the market is interested in purchasing the new iPhone X? What proportion of people of Trinidad and Tobago are using the previous versions of iPhone? What proportion of people of Trinidad and Tobago prefer to buy the iPhone X from Digicel rather than from the authorized iPhone stores in Trinidad and Tobago market? Research Hypothesis On the basis of the research questions, the following six hypothesis statements can be developed. Null Hypothesis 1 (H01): There is no significant relationship between age of the people of Trinidad and Tobago and the demand of iPhones in the Trinidad and Tobago market. Alternate Hypothesis 1 (HA1): There is a significant relationship between age of the people of Trinidad and Tobago and the demand of iPhones in the Trinidad and Tobago market. Null Hypothesis 2 (H02): There is no significant relationship between the income of the people of Trinidad and Tobago and the demand of iPhones in the Trinidad and Tobago market. Alternate Hypothesis (HA2): There is a significant relationship between the income of the people of Trinidad and Tobago and the demand of iPhones in the Trinidad and Tobago market. Null Hypothesis 3 (H03): There is no significant relationship between the price of the phones of the competitor brands and demand for iPhones in the Trinidad and Tobago market. Alternate Hypothesis (HA3): There is a significant relationship between the price of the phones of the competitor brands and demand for iPhones in the Trinidad and Tobago market. Null Hypothesis 4 (H04): More than 50 percent of the people of Trinidad and Tobago are using previous versions of iPhone. Alternate Hypothesis (HA4): Less than 50 percent of the people of Trinidad and Tobago are using previous versions of iPhone. Null Hypothesis 5 (H05): More than 50 percent of the people of Trinidad and Tobago prefer to buy iPhones from the local shop Digicel than authorized iPhone stores. Alternate Hypothesis (HA5): Less than 50 percent of the people of Trinidad and Tobago prefer to buy iPhones from the local shop Digicel than authorized iPhone stores. Null Hypothesis 6 (H06): There is no significant relationship between the preference of iPhone and occupation of people in Trinidad and Tobago. Alternate Hypothesis (HA6): There is a significant relationship between the preference of iPhone and occupation of people in Trinidad and Tobago. Each of the hypothesis stated above will be tested using an appropriate statistical test. For these tests, a test statistic will be framed from the variables involved in each of the stated hypothesis. Based on the type of test to be run, these values of the test statistic will follow different distributions in different hypothesis. In some cases, the test statistic values will follow the t-distribution, in some other cases it may follow a f-distribution or chi square distribution or some other distributions as well. In the first hypothesis H01, the relationship between age and the demand for iPhones has been tested. The dependence of buying of iPhones on the age of people has to be tested here. This will be done with the help of regression analysis and the test statistic in this case will follow a f-distribution. Similarly, for hypothesis H02 and H03, regression will be conducted. In hypothesis H04 and H05, the test for proportion has been conducted. The test statistic that is required to run this test will follow a z-distribution. Finally, for the sixth hypothesis H06, relationship has to be tested on two categorical variables preference of iPhones and occupation of people. To test the relationship between two categorical variables, the most appropriate table for the test statistic to follow is the chi-square table. A chi square test of association will be performed to test the claim. The respective tests for the respective hypothesis will be performed and based on the results of the tests, a conclusion to accept or reject the null hypothesis will be made. From each of the tests, a p value will be obtained. In each of the cases the null hypothesis will be accepted if the p value is higher than the level of significance (0.05) stated for each of the tests. If the p value is less than the level of significance, the null hypothesis will be rejected. If the p values of the tests are equal (for example, 0.049 or 0.051) to the considered level of significance (0.05), then the results obtained will be termed as indeterminate and the researcher can freely make their own assumptions for the result In this section which is mostly a roadmap to the outcome of the research, provides details about the tools and techniques necessary to attain the objectives and aims of the study. The figure 1 below provides a portrayal of this studys research methodology: Research Design The design of a research project is very important and is needed to facilitate the smooth sailing of several research operations. According to Kothari (2004, p.31), a research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure. In fact, the research design is the conceptual structure within which research is conducted; it constitutes the blueprint for the collection, measurement and analysis of data. The framework for this research, Descriptive and Experimental design will be applied in the study. The rationale behind implementing Descriptive design is to find answers to the research questions like what, when, where, who, how and why. (Ghauri and Gronhaug, 2014). For example, in order for customers to purchase the new iPhone X from Digicel, customers may be asked what their package preferences are. Whilst, descriptive design answers the studys structured questions, th e experimental design is the conceptual framework in which the researcher can test the hypothesis. Research Philosophy Research philosophy explains how theoretical constructs of research methodology have been evolving in a particular field of study through a series of assumptions. The researcher thinks of the practical nature of the research effort rather than the outcome. Thus it is all about the correlations between the knowledge and its applications. Research philosophy has three branches epistemology, ontology and deontology (sometimes referred to as axiology). Epistemology refers to the nature of acceptability of the kind of knowledge concerning a certain discipline. Epistemology in turn has three sub branches positivism, realism and interpretivism. Positivism is related to philosophy while realism refers to reality of knowledge. Interpretivism on the other hand is concerned with researchers own opinion about knowledge (Saunders, et al, 2007) References Ghauri, P. and Gronhaug, K. (2014). Research Methods in Business Studies. Vancouver, B.C.: Langara College. Kotler and Keller, (2012) Marketing Management. Global Edition, 14th Edition. Pearson Education Limited. Retrieved from https://socioline.ru/files/5/283/kotler_keller_-_marketing_management_14th_edition.pdf Kothari, C.R. (2004). Research methodology-Methods and Techniques. Daryaganj: New Age International Pvt. Ltd., Publishers.