Research methods in business: Please read through the case situation below. Indicate the following:
1. What would be the objective of the research?
2. Who is the audience for the report?
3. How to articulate the managerial problem?
4. What is the main research question? Are there other questions?
5. What kind of hypotheses can you form?
6. What is the dependent variable?
7. What are the independent variables?
8. Draw the causal model.
9. What methods would you use for data collection?
10. Who would be the sampling frame?
11. Make 10 questions to find out about the problem in Survey monkey https://www.surveymonkey.com/ or similar tool.
12. What kind of ANOVA test could you do with the collected data?
13. What kind of regression model could you write for the problem?
14. Could there be correlations? Which ones?
15. How would you present the findings?
– Prepare about 2-3 page report and the questions in survey monkey
– Please write narrative, not only response to the questions
– Be consistent in your research design
– Pay attention to the question setting and them answering the research question
– Justify your choices where needed
– No need to use external references
You are the Chief Analytics Officer & Business Strategy Head at an online shopping store called DresSMart Inc. The company wants to improve the conversion rate of the campaigns i.e. number of customer buying products from the product catalog. Their campaigns include price reductions, advertisement with celebrities, gifts for buyers or large quantities and a loyalty card. They are also eager to find out what are the best selling product categories. Their catalogue features male wear, female wear, children wear and household items.
They also want to know what is the average amount of money spent at one go, and see if there are differences between customers living in large cities, mid-sized cities and small towns. This data is used to help improve the profit generated through the converted customers.
To develop a regression model you will use the data for 4200 customers, out of hundred thousand solicited customers, those have responded to previous campaigns. All these 4200 customers live in different locations that can be grouped into the above three categories. Incidentally, these customers are evenly divided into these three categories with 1400 customers in each group. The first thing you checked is the average value of profit generated from these three categories of cities.
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