Preparing to Conduct Business Research Part 1

Preparing to Conduct Business Research Part 1

Stephen F Lundberg,

Jason Moore,

Christina Pleasant,

Andrew Inman,

Raymond E. Williams,

Rachael Goldman

RES/351

2/19/2013

Kim Gravelle

Preparing to Conduct Business Research Part 1

The Hypotheses

The research questions used to answer this dilemma are critical. First, we must identify or clarify the question. When this topic is stripped down to the underlying point, it asks, "What factors are preventing a good store in a marketable area from making profit?" Some other questions that can contribute to the whole story that will provide a solution to this dilemma include how affordable is the merchandise, is the location easy to get to from the street or is there adequate parking, is there visible signage, has there been sufficient marketing of the store, and more importantly, what is the current state of the economy both locally and nationally. By asking these more specific questions, the root of the issue can be uncovered and a solution formed. If for instance, the current locally economy has taken a downward turn and the merchandise it the store is on the higher end of the price range, it is only natural that there would be a decline in business. Another example would be if the store is located in a downtown setting and there is either not enough parking or the parking lot is difficult to get to from the street, people may not visit that store in order to avoid parking frustration.

The Variables Consideration

A variable pertains to everything involved in research, and is the subject that is being studied. An independent variable is the one that the researcher effects, which in turn affects the dependent variables. Cooper and Schindler (2011) explain why variables are important, "Researchers are most interested in relationships among variables." Many variables exist in this retail situation. An employee's knowledge and training is an independent variable. This directly affects a customer's experience. The store itself sells desirable products, and is in a desirable area. This independent variable has a direct correlation with customer traffic, and this seems like it should not be the reason for declining sales. Other examples of independent variables include the weather that affects customer's desire to shop, advertising of the company, and competitors just to name a few. The main dependent variable, with which the company is interested, is the declining sales. The more difficult pursuit is the discovery of the independent variable, or variables that affect this. It is the research, and testing hypotheses involving