Discuss the suitable research design and method that could be used to collect data for the study, then, explain THREE (3)advantages of the chosen method: Marketing Essay, UTM, Malaysia

Article Summary:

Today, online shopping is no more limited to developed countries but has been an essential factor for the economies of developing countries like India (Punyatoya, 2018). The unified theory of acceptance and use of technology (UTAUT) opened the door to investigate the impact of new technology on Indian consumers (Chopdar and Sivakumar, 2019).

The increasing spread of smartphones, internet, high level of trust and acceptance in online payment have resulted in increasing the e-based activities in India (Chopdar and Sivakumar, 2019). The IoTs is an extension of networks and devices (Farooq and Waseem, 2015). It contains the features of communications of devices with the related architecture.

It is a growing network with wireless and cloud computing services; more things are now connected on a cloud with the help of the internet (Farooq and Waseem 2015; Hsu and Lin, 2016; Elkhodr et al., 2013; Gao and Bai, 2014; Alfaqih and Al-Muhtadi, 2016). According to Cisco, there will be 50 billion devices connected to the internet by 2020.

Companies would like to mine this data to get insightful information about customer behaviour to segment their markets and target their campaigns more effectively (Wilson, 2017). Several decades ago, the modification of the IoTs to consumers’ needs was one of the most popular future visions (Elkhodr et al., 2013). Hence, the expansion of the internet of things (IoTs) in the market, primarily, influences new business choices that incorporate buyers and meeting of their demands (Elkhodr et al., 2012).

Also, contemporary surveys are conducted for consumers to measure economic indicators. Psychologists try to improve the emotional state of consumers as well as the factors that influence their behaviour. Businesses are interested in ways to prove their position in the market, as well as they, want to perceive and evaluate customer demands and factors that empower utilisation of the product (Zitkiene et al., 2017).

The objective of this paper is to identify the factors influencing the decision of consumers to use the IoTs. This study relied on the analysis of scientific literature as well as a survey to determine factors that affect the adaption of IoTs. In this paper, Studies that are mainly focused on consumer behaviour and changes in consumption are analysed.

Moreover, the theoretical aspects of consumer awareness and trends studies toward IoTs were highlighted. Also, there is not enough literature on how to successfully implement the IoTs, leaving researchers with many doubts about its benefits and advantages. IoTs now is the need of the hour to make our life easy and smart (Tsai et al., 2014).

But it is necessary to detect the factors that influence consumer behaviour and decision to use IoTs. The present study is done to find out the answer to these issues. This study takes action on the issue of privacy, safety, cost, convenience and awareness of the consumers to IoTs. IoTs has been defined by Cisco (2015) as smart objects, linked to the internet and enable the exchange of accessible data and attract customers more securely.

Other definitions shed lights on IoTs functions as well as extended the stakeholders to cover governments, businesses, individuals and communities. In the present study, IoTs is characterised techniques to connect devices that consumers use.

QUESTION ONE

a)     Briefly state the research problem as discussed in the attached article.

b)     Identify independent variables proposed by the attached article and explain the relevancy of each variable upon the problem statement.

c)     Draw a schematic diagram for the research framework of the attached article.

QUESTION TWO 

a)     Discuss the suitable research design and method that could be used to collect data for the study, then, explain THREE (3)advantages of the chosen method.

1. b)  Give THREE (3)justifications of the importance (significance) of the pprovided study.

QUESTION THREE

Table 1 presents a recent statistical analysis conducted by the research and development unit of the company you have just joined. Your new manager has asked you to provide some interpretations of the table based on the following questions:

a)     How much is the variation explained in Y by the independent-predictor variables. 

1. b)     Briefly explain the relationship between the dependent variable and predictor variables

c)     Table 2 below presents some important information about McWise Restaurant menu prices. Based on the information, explain the implications of the mean value considering that 7-point Likert scale was used to obtain 245 (N) responses.

 Table 2

d)     Considering recent the incidence of COVID 19 pandemic, companies are facing issues of customer loyalty. Results of research conducted by your unit shows that certain factors are important if you have to retain your post COVID customers. Table 3 provides some statistics which you need to present to the management. Based on the table, briefly explain the meaning of Beta, t and p-value and provide THREE (3)practical implications to the management.

Answer

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