MSBA7113 – Understanding Research Methods- January 2024 Semester Assignment 1, CUM, Malaysia

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City University Malaysia (CUM)

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Individual Assignment

Subject

MSBA 7113 - Understanding Research Methods

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Date

24/04/2024

ASSIGNMENT 1
MSBA 7113 – Understanding Research Methods- JANUARY 2024 SEMESTER

Objective of the assignment: To critically evaluate quantitative, qualitative, and mixed research methods, along with various sampling techniques, to enable quality economic and business research, ensuring precise, representative, and insightful data analysis.

A. Research Method (50 Marks)
Fashion Fiesta, a prominent youth clothing retailer, observed a slow increase in sales in the mid-2010s, despite having a strong market presence. Their online and social media efforts weren’t leading to the expected boost in sales. To tackle this, Fashion Fiesta aims to delve into consumer behaviour, with a particular focus on how social media marketing influences buying decisions.

Research Dilemma:
The marketing team at Fashion Fiesta faces a decision on which research method to use. They need to uncover not only the actions of consumers but also the reasons behind those actions.

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1. Quantitative Approach: By conducting surveys and analysing social media data (engagement rates, click-through rates, conversion rates), Fashion Fiesta can collect numerical data. This data can shed light on the effectiveness of their social media platforms and campaigns in generating sales. However, this method might not capture the full picture of consumer attitudes and motivations.

2. Qualitative Approach: On the other hand, using focus groups, in-depth interviews, and social media content analysis could provide a deeper insight into how consumers perceive and feel about their social media marketing. This approach offers detailed information but may lack the broader applicability of numerical data.

Your Task: (500 words)
1. Your Task is to choose between a quantitative, qualitative, or mixed-methods research approach. Think about your research goal, the kind of information you need, and what resources are at your disposal. Outline a simple research plan, including the key questions you aim to answer, your data sources, and how you plan (methods) to analyse this data.

B. Sampling Method: (50 Marks)
Retail Nation is a national chain with over 500 stores across the UK, seeks to improve customer satisfaction and store performance. Recognising the importance of customer feedback in shaping services and products, Retail Nation aims to collect and analyse customer opinions efficiently and effectively. Challenge:

The main challenge for Retail Nation is figuring out the best way to gather feedback from customers given their wide and varied customer base. They need a sampling method that Page 3 of 3 accurately reflects their entire customer population to ensure the feedback they collect is reliable and valid.

Sampling Dilemma:
❖ Random Sampling: Picking customers randomly, giving every customer an equal chance to be selected. This method aims for a sample that truly represents the customer base, minimizing bias. However, doing this across the nation might be hard and expensive.

❖ Stratified Sampling: Dividing the customer base into categories (like age, location, or how often they buy) and then sampling from each. This ensures feedback from all key customer groups but needs good customer data to  create these groups.

❖ Convenience Sampling: Using customers who are easy to reach and willing to give feedback. It’s the easiest and cheapest method but might not accurately reflect the wider customer base because of potential bias.

Your Task:
1. Recommend a sampling method (random, stratified, or convenience) for Retail Nation. Explain the benefits and possible limitations of your choice in this scenario. (500 words)

2. Describe how you would put your chosen sampling method into action. Think about how you’d select people, decide on the number of responses you need, and gather the data. (500 words)

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