CHAPTER: 3 RESEARCH METHODOLOGY

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1 CHAPTER: 3 RESEARCH METHODOLOGY 3.1 INTRODUCTORY STATEMENT: Research strategy is a general plan of how researcher goes about answering the research questions that has been set by researcher. It contains clear objectives, derived from research questions specify the sources from which researcher intend to collect data and consider the constraints that researcher have such as access to data, time, location and money ethical issues. In day-to-day life research lays the foundation for decision-making in various aspects. Research involves important steps like- problem definition, research design, data collection, data analysis, interpretation and implications of the results. There are two kinds of research: exploratory and conclusive research based on objectives. Exploratory research encompasses assessment of relationship between the variables. It applies a less formal method and pursues several probabilities concurrently. Characteristic approaches in exploratory research are literature survey, experience survey and analysis of insight-stimulating examples. There are many assumptions in exploratory research, which need proper testing for the purpose of determining the conclusions and validity of such. A hypothesis can be proved either right or wrong after testing. These results set the basis for decision-making purpose when get tested Ph. D. Thesis 56

2 for validity. Conclusive research is used for the purpose of testing the hypotheses created by the exploratory research. It can be descriptive as well as experimental research. Descriptive research discusses some subjects like- characteristics of consumers of a given product, the degree of product usage difference with income, difference in occupation, age, gender or other demographic features etc. It allows both implicit (inherent) and explicit hypotheses to be tested depending upon the research problem. In experimental research manipulation of one or more variables under some conditions is permitted, which further permits the data collection to show the effects. Experiments are aimed for creating simulated situation so that the researcher can get the required information in specific way and can calculate the data precisely. This simulation is the core of the experimental method because it provides more control over the factors that the researcher has been observing. This research is based on the exploratory research model, where effect of socio-economic factors on buying Pattern of urban youth in retail market is delved into. In terms of its elements, sampling units, extent and time a specific population should be properly defined. A universe or population is the aggregate of all the elements having some specified features, which the researcher wants to study and define prior to selecting the sample. An element is the unit on which the information has to be collected. It offers the standard for analysis as per the well-defined process. In this research study, the researcher has studied the impact of socio economic factors on purchasing pattern. A sampling unit is the element considered accessible for selection in some phase of the sampling process. In this study, youth from Indore were identified that represented a major chunk of urban youth. Ph. D. Thesis 57

3 The findings of the State of the Urban Youth, India 2012: Employment, Livelihoods, Skills, a report published by IRIS Knowledge Foundation states that every third person in an Indian city today is a youth. In about seven years, the median individual in India will be 29 years, very likely a city-dweller, making it the youngest country in the world. India is set to experience a dynamic transformation as the population burden of the past turns into a demographic dividend. By 2020, India is set to become the world s youngest country with 64 per cent of its population in the working age group. With the West, Japan and even China aging, this demographic potential offers India and its growing economy an unprecedented edge that economists believe could add a significant 2 per cent to the GDP growth rate. Objectives of Study: Objectives were framed which covered the subject of research before collecting the primary and secondary data. The objectives should be valid and achievable. The major objective of study was to study the effect of socio-economic factors on buying pattern of urban youth in retail market. Other objectives were: 1. To assess the effect of demographic background of youths on their buying pattern. 2. To find out the effect of social background of youths on their buying pattern. 3. To know the effect of economic background of youths on their buying pattern. 4. To study the retail market strategies towards consumers. Ph. D. Thesis 58

4 The main aim of the research is to find out the truth which is being hidden and which has not been discovered yet. So, the present study entitled as TITLE. The methodology of present study is preceded under following heads: 1. Hypothesis of the study 2. Working definition 3. Research Design 4. Tools and techniques 5. Statistical analysis 1. Hypothesis of the study: There were 3 hypotheses of study: 1. The demographic background of youths has no association with their buying pattern. 2. The social background of youths has no association with their buying pattern. 3. The economic background of youths has no association with their buying pattern. 2. Working definition: Advertising: It is a form of marketing communication used to persuade an audience to take or continue some action, usually with respect to a commercial offering, or political or ideological support. Brand preference: One of the indicators of the strength of a brand in the hearts and minds of customers, brand preference represents which Ph. D. Thesis 59

5 brands are preferred under assumptions of equality in price and availability. Demographics: are the quantifiable statistics of a given population. Demographics are also used to identify the study of quantifiable subsets within a given population which characterize that population at a specific point in time. Electronic Commerce (E-commerce): It is trading in products or services using computer networks, such as the Internet. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic, electronic data interchange (EDI). Foreign direct investment: (FDI) is a controlling ownership in a business enterprise in one country by an entity based in another country. Broadly, foreign direct investment includes "mergers and acquisitions, building new facilities, reinvesting profits earned from overseas operations and intra company loans". Joint family: It is a family that extends beyond the immediate family, consisting of grandparents, aunts, uncles, and cousins all living nearby or in the same household. Market: It is regular gathering of people for the purchase and sale of provisions, livestock, and other goods. It s a place where buying and selling occurs. Multiplex: It is a movie theater complex with multiple screens, typically more than one screen within a single complex. They are usually housed in a specially designed building. Nuclear family: It is a term used to define a family group consisting of a pair of adults and their children. Ph. D. Thesis 60

6 Online marketing: is a form of marketing and advertising which uses the Internet to deliver promotional marketing messages to consumers. It includes marketing, search engine marketing (SEM), social media marketing, many types of display advertising (including web banner advertising), and mobile advertising. Religion: It is an organized collection of beliefs, cultural systems, and world views that relate humanity to an order of existence. Many religions have narratives, symbols, and sacred histories that aim to explain the meaning of life and/or to explain the origin of life or the Universe. Retail management: The various processes which help the customers to procure the desired merchandise from the retail stores for their end use refer to retail management. Retail management includes all the steps required to bring the customers into the store and fulfill their buying needs. Retail: Retail is the sale of goods and services from individuals or businesses to the end-user. Retailers are a part of an integrated system called the supply chain. Shopping Mall: shopping center, shopping arcade, shopping precinct, or simply just a mall, is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to walk from unit to unit. Socioeconomic status (SES) is an economic and sociological combined total measure of a person's work experience and of an individual's or family's economic and social position in relation to others, based on income, education, and occupation. Urban: An urban area is a location characterized by high human population density and vast human-built features in Ph. D. Thesis 61

7 comparison to the areas surrounding it. Urban areas may be cities, towns or conurbations, Youth: Youth is best understood as a period of transition from the dependence of childhood to adulthood s independence and awareness of our interdependence as members of a community. Youth is a more fluid category than a fixed age-group. 3. Research Design: The universe included shoppers in Indore, who are regular visitors of retails shops. Indore is known as the business capital of M.P. Situated in western Madhya Pradesh, the city has been well connected with airways, roadways and railways. The sampling method applied by the researcher was non-probability judgement sampling method, also known as purposive sampling. In this sampling, the researcher picks a sample from the population, which he/she considers a representative of the population. All elements of the population are not having equal opportunity to get included in the sample. Judgement of the researcher becomes major factor. Among the youth in Indore city, there were 300 who were selected for the purpose of primary data collection. These were either the inhabitants or Indore or other places from Madhya Pradesh, Jharkhand, UP, Maharashtra, West Bengal, Uttaranchal and Chhattisgarh states. There were 312 respondents selected from Indore, out of which 305 gave response in the form of filled questionnaire. Due to insufficient and ambiguous information, 5 responses were not included in the research. Finally, a sample of 300 was included in the study. Composition of respondents is as follows: Ph. D. Thesis 62

8 Table 3.1: Respondents Composition: Total 300 respondents Variable Age Group (yrs) Gender Resident s Locale Occupation Marital Status Education Adult Family Members Children Lifestyle Monthly Income (Rs.) Earning Member Earning To Dependent Ratio No. of Indices respondents years years 121 Male 150 Female 150 Living in City Area 146 Living in Colony 128 Living in Sub-Urban areas 26 Self-employed 111 Service 189 Married 150 Unmarried 150 Up To 8th 8 Up To 12 th 44 UG/PG 248 Up To > 4 46 No Children 86 Up To > 2 29 Traditional 91 Semi- modern 187 Upto 50,000/ ,000/- To 1 Lac 63 1 Lac To 1.50 Lac lac + 52 Husband 164 Wife 21 Both 77 Other 38 More Earning 169 Equal 53 More Dependent 78 Ph. D. Thesis 63

9 4. Tools and techniques: Before conducting the research secondary data are always collected and stored. These are also known as historical data which are earlier collected and recorded by researchers across the world. This collected data is of great significance in exploratory research. In the research, secondary data were collected from various sources like- textbooks, journals, business magazines, newspapers, Internet, brochures etc. Primary data is first-hand data collected freshly by the researcher. For the purpose of collecting primary data, questionnaire is a common instrument. A questionnaire contains a set of questions (open-ended and closed-ended) for the purpose of collecting primary data from the respondents. Questionnaires as data collection tool are more often used in case the data are to be collected from a large population about their variables like: awareness, perception, expectations, taste & preferences, effectiveness and behaviour [See appendix 1]. Administering the questionnaire for collecting data can be done in many ways. It can vary in terms of format and the channel through which it is administered to the respondents. It can be administered personally, by mailer, by or telephonically as well. A questionnaire may be structured or unstructured depending on the need of the researcher. In structured questionnaire, the questions and probable responses are visibly pre-specified; whereas in non-structured questionnaire, the questions are kept flexible in their words and the respondents are allowed to use flexibility to answer the questions in their own way. The response pattern of respondents may differ in terms of openended and close-ended questions. Open-ended questions are time Ph. D. Thesis 64

10 consuming; but respondents feel comparatively free to choose their tentative responses. In close-ended questionnaire the researcher prespecifies the alternatives and the respondents are supposed to choose any one from among the specified alternatives given to them. In this study, it was a self-administered questionnaire that consisted of most of the closed-ended and few open-ended questions. It facilitated the respondents in filling their opinion about retailing. There was no ambiguity in any portion of the questionnaire. The questionnaire was tested by using pilot study on 19 respondents. After making minor changes, it was finalized for study. Structure of the Questionnaire: The first part of questionnaire contained brief information about the response in terms of gender, age, education, occupation, number of family member, family status, earning members, native place, marital status, lifestyle, source of income, total income etc. This was highly useful in getting useful information about the demography of respondents. The main part of questionnaire was divided into two parts: overall purchase preferences and purchase criteria. Under purchase preferences, the response was measured in terms of frequency and the choices given to the respondents ranged from always, often, sometimes, never to not sure. The respondent was asked to tick any of the five choices. The aspects/ criteria covered aspects like- cost /price, necessity /need, social status, religious reason, tradition reason, choice of family members, personal choice, quality, brand preference, advertisement, experience, luxury/comfort. The second part covered purchase criteria like- source of information, time of purchase, accompanying with, place of buying, location preference, availability of shopping facility etc. Against these criteria, the respondents were asked to Ph. D. Thesis 65

11 rank from among options ranging from always, often, sometimes and never. 5. Statistical analysis The data analysis process involves applying the reasoning method for comprehending and interpreting the data collected by the researcher. The choice of analytical techniques depends on the characteristics of research design and nature of the collected data. The collected data from 300 respondents were valuable and important because it contained all the relevant information needed to fulfill the objectives of research. Before applying statistical techniques for data analysis, the data collected was tabulated to facilitate interpretation process. The primary collected data was converted into a user-friendly format by coding method. Using MS Excel, the data transformation was done in a spreadsheet. The relevant data were transferred from the collected questionnaires to the computer. The excel sheet was prepared where the response of all 300 respondents against relevant questions was entered. It was further arranged in a tabular manger in rows and columns. The rows represented respondents and the columns indicated relevant questions against which the response was recorded. Finally, a rectangular data matrix was formed on spreadsheet. The selection of suitable statistical technique gives appropriate directions for data interpretation and implications. The correct choice of technique gives significant suggestion for the probable findings and implications. After the tabulation process of data in MS Excel sheet, the analysis of data was performed by applying various statistical tools depending upon their applicability. Descriptive statistics used in this Ph. D. Thesis 66

12 study included mean, frequencies and standard deviations. The selection of tools was done on the basis of objectives of the research work and the nature of respondents. With the help of SPSS factors were sorted and analysis was done based on the percentage and chi value and hypothesis testing was done accordingly. By applying the appropriate statistical techniques, data analysis and interpretation process was carried out thoroughly and significant results were determined by the researcher. Due to appropriate selection of statistical techniques, the results were validated and justified. These results were translated into user-friendly manner from the statistical data. It was very important from the point of view of objectives of the research. The interpretation of the data gives useful insights into the subject matter, which are valuable for the government, the farmers and the society at large. Each and every aspect of the subject matter has been derived in the results section. Detailed results of data analysis along with their interpretations have been mentioned in forthcoming chapters. Ph. D. Thesis 67