RBP020L050A Business Research Methods
RBP020L050A Business Research Methods
Introduction
The following research is based on the analysis that identifies the impact of research in development on evaluated product demand focusing on Unilever and Amazon. In this regard, the study has been divided into different sections that shed light on the objectives of the research, current literature as well as methods that shall be adopted in the course of this study.
Section 1
1.1 Research problem
The following research specifically focuses on undertaking the context of research and development (R&D) and its impact on evaluating product demands and needs of customers. Through this context, Amazon and Unilever have been identified as a case study for the research outcome. Regarding this, the research problem specifically focuses on analysing Amazon and Unilever’s consideration of R&D in their organisation that is influencing the overall operation of the organisation and business context. Considering this research problem, the following research will be analysed that will serve the actual purpose of this topic.
Research question:
- What are the current trends regarding investing in R&D?
- How organisations like Amazon and Unilever are considering the context of R&D for product demand and needs of customers?
- What is the impact of R&D on analysing product demand and needs of customers in Amazon and Unilever?
1.2 Selected key readings
Significance of R&D on organisational performance
In accordance with the study of Abdul Basit et al. (2021), Research and Development (R&D) is noted to be highly significant in terms of driving innovation, fostering product development as well as enhancing competitiveness to improve overall organisational performance in the competitive market. The increasing investment in R&D is noted to contribute to a creation of efficient technologies by the help of improved processes and innovative solutions that enables the organisational management to stay ahead in the dynamic markets. Similarly, argued by Davcik et al. (2021), organisational management with a robust R&D capability often experiences increased market share as well as revenue growth that contributes to their overall profitability. Moreover, it is also noted to be highly significant as R&D helps in developing cutting edge products to successfully achieve the targeted goals in terms of changing customer preference in the competitive market and sustain long-term success (Khan et al. 2021). Hence, strategic focus on R&D enhances adaptability as well as the overall business landscape.
The impact of R&D on evaluating the product demand and needs of the customers
Research and Development (R&D) plays a crucial role in terms of understanding and meeting the product demand and needs of customers by the help of alteration within the manufacturing stages. In accordance with the study of Sakellariou et al. (2020), R&D activities are highly beneficial in terms of gaining insights into the market trends, consumer preference and emerging demands. Similar to that, it has been argued by Canh et al. (2019), the process of R&D activities are highly beneficial in terms of gaining a positive impact on the alteration of product or services by analysing data and conducting surveys of customers in the competitive market. It helps in identifying the gaps within the manufacturing sector in terms of product development for the market demands or areas for improvement. In comparison, as analysed from the findings of Bustinza et al. (2019), R&D is also noted to have a prominent impact on product development in alliance with customer expectations and preference. It helps in developing proactive approaches to enhance the ability of an organisational management to stay ahead of its competitors as well as respond effectively to the changing consumer behaviour in the market. Moreover, R&D makes it easier to customise products to meet the needs of particular client segments (Robbins and Fu, 2022). Organisational management might find unfulfilled requirements, specific markets, or places where their current goods can be improved to better serve customers by doing ongoing research. It enables businesses to obtain insightful data, predict market trends, personalise offerings, integrate new technology, and conform to cultural norms (Zaki, 2019). In addition to guaranteeing that goods remain relevant today, a strong R&D strategy places businesses in a competitive market position for long-term success.
1.3 Two appropriate research methods
Selecting a method in research is the most crucial part as it assists in the accomplishment of the targeted goals based on research objectives. According to Rassel et al. (2020), there are mainly two types of research methods available for investigators. This includes primary methods of investigation and secondary methods of investigation. Primary methods include a collection of data from primary sources such as interviews, surveys, observations, and others. Besides, the secondary method deals with the accumulation of data from secondary sources such as journals, articles, books, newspapers, and others, from secondary databases such as Google Search Engine, Google Scholars, company websites, governmental websites, and other relevant and authentic websites (Dawadi et al. 2021). The primary process of gathering data is further classified into two methods that are Qualitative analysis and Quantitative analysis. These two methods will be discussed below in detail.
The development of a research is noted to require a specific method that is crucial for several reasons to meet the research objectives successfully as well as answering the questions of the research. Apparently, it can be assumed from the study of McChesney and Aldridge (2019), the implementation of a specific method in a research is noted to help in aligning with the research objectives by allowing researchers to choose a specific method that suits their study purpose. For example, it might help the researcher to successfully implement a research style of exploratory, explanatory, descriptive, or experimental based on the method selected. Additionally, selecting an appropriate method for the research is also noted to be highly crucial as it ensures ethical considerations are addressed by avoiding any type of discomfort to the participants involved in the overall research development (Newman et al. 2021). To put it simply, method choice plays a critical role in directing the research process, affecting the results, and guaranteeing the general validity and applicability of the study.
Evaluation of Qualitative data analysis based on Interviews
Qualitative data analysis from interviews is noted to involve systematically examining and interpreting non-numerical information (Moalusi, 2020). Thereby, by the implementation of the specific method, the researchers are able to effectively identify different themes, patterns, and meanings within the interview transcripts to gain in-depth insights into participants’ perspectives. This approach helps in undercover rich as well as context-specific details in terms of enhancing understanding and contribution of valuable qualitative evidence to the research study.
In context to qualitative data analysis of interviews, it contributes significantly to the theory as well as research by unveiling insights and context-specific understanding (Farquhar et al. 2020). By the implementation of coding, thematic analysis and interpretation, researchers are found to extract patterns as well as themes that help in refining the existing theories or generating new frameworks. The rich narratives derived from interviews provide abstract notions of more substance, significance, and practical application for research development (Ivey, 2023). As a result of offering a human viewpoint, this approach enhances scholarly debate and promotes a more thorough comprehension of phenomena. Interview-based qualitative data analysis may have gaps because of subjectivity, underrepresentation in the sample, and possible researcher bias. In contrast to its benefits, this approach investigates the viewpoints of participants and records deep, insightful observations. This method’s interpretative character may obscure some viewpoints and contextual elements could not have received enough attention (Eakin and Gladstone, 2020). These gaps provide room for more investigation, pushing scholars to go farther, look at more angles, and take contextual differences into account. Whereas, in contrast weighing depth against potential representational and interpretive limits, considers relevance to the particular research issue. Subsequent investigations may tackle these constraints, enhancing hypotheses and expanding comprehension of the studied phenomenon.
Evaluation of Quantitative data analysis based on Surveys
Quantitative data mainly refers to the information that is being collected via survey further relating to the notion of primary research methodology. According to Kent (2020), quantitative data is considered to be highly valuable as it is highly based on statistics and draws conclusions accordingly. It is also capable of bringing interesting insights regarding a topic while providing real-time data to facilitate customers, employees and other stakeholders related to the concerned area. However, quantitative research analysis is mainly applied within an investigation through surveys which can be online as well as offline. Mohajan (2020) opined that this method deals with the designing of close-ended questions for a target group of participants based on the research topic. In terms of online surveys, the researcher mainly deals with designing a questionnaire and distributing it through social media platforms or digital marketing tools such as Facebook, Instagram, Twitter, emails, and many others.
Contrary to this, in the case of offline surveys, questionnaires are distributed physically which tends to take a lot of time. However, Google Forms are mainly used for the purpose of designing questions and distributing them through various platforms. Supporting this notion, Roni et al. (2020) mentioned that, quantitative data based on the areas of survey tends to provide worthwhile contributions to the research and theoretical development. It is because this method ensures the collection of real-time data based on customers’ or employees’ opinions in the market regarding the concerned organisational affairs. Moreover, this method is also useful as it assists the researcher in gaining real-time data which can be used by future researchers in the same field. Contrary to this, Moises Jr (2020) argued that quantitative data consists of a complex process and takes a lot of time for execution. This form of research process also fails to analyse a wide range of data which could create a gap in this area and hamper the aspect of gaining suitable outcomes.
In consideration of the current research, which deals with the analysis of the impact of R&D on the needs and product demand of Unilever and Amazon’s customers in the market, the process of quantitative research will help in gaining real-time data regarding customers’ and employees’ opinions regarding the matter. Besides, the advantage of this method in evaluating real-time viewpoints, certain cons are also present in it. Sürücü and Maslakci (2020) reviewed quantitative data analysis to be facing challenges in gaining suitable candidates for participation. Consecutively, it can also face challenges in accessing a wide range of data related to the concerned matter. One way or the other, this process is likely to reveal the chances of creating delays in the research which could hamper research variables adversely (Paullada et al. 2021). Overall, it can be stated that this process may reveal perfection in analysing statistical data, but it contains certain limitations that need to be mitigated to gain a suitable research outcome. Henceforth, setting a proper timeframe for the research and meeting success criteria and milestones set for the research could be effective to complete this process in the due amount of time.
Critiques of the selected methods
Considering the section above, it can be observed that the quantitative method in terms of survey and the quantitative method in terms of interviews has been selected as the two critical methods for this research. In the opinion of Chatterjee and Bhattacharjee (2020), the qualitative method mainly deals with information collected via interviews that mainly consider the opinions of internal stakeholders of a company without including statistical facts. This method seems to ensure face-to-face communication between the researcher and internal stakeholders of a company mainly managers or employees based on the concerned matter. Contrary to this, Strijker et al. (2020) argued that the quantitative process includes surveys and ensures the collection of the viewpoints of both internal and external stakeholders based on a concerned matter. Comparing both methods, it can be evaluated that the qualitative method consumes more amount of time as compared to quantitative research method. This is because the qualitative method is highly focused on interviews that take longer time as compared to the survey. Contradicting this notion, Wu et al. (2022) counter-argued that the qualitative method is limited to the evaluation of a small sample size as compared to the quantitative method.
It is because interviews mainly include 2 to 3 managers of the company while survey participants can range from 50 to 200 or more than that based on research capacity. On a common ground, both methods deal with real-time data which is highly beneficial to gain organisational insight regarding the research topic. After analysing both methods, Mikalef and Krogstie (2020) pointed out the limitation of quantitative data to be having a small scope of wider analysis based on research context. In contrast, the qualitative method reveals a high chance of accumulating and analysing wide data further contributing to research success. As the current research deals with analysing the impact of R&D on the demands and needs of Amazon and Unilever’s customers, therefore, gaining real-time data both from internal and external stakeholders would be helpful in this area. As a result of this, the implementation of quantitative methods of processing and analysing data could be of great help to the current research and will help in collecting real-time data both from internal and external stakeholders.
Section 2
2.1 Instrument
For analysing the effect of research and development on product demand and needs of customers, I have selected survey questions as the research instrument. My reason for selecting survey is to gather adequate quantitative findings that could help to easily understand to understand the perspective of the customers of Unilever and Amazon. As per the views of Blom et al. (2020), regarding quality development and customer needs achievement, the actual impact of R&D could be understood by analysing perspective of customers which is important. It can help the businesses to determine their overall efficiency to maintain suitable business performance and continue the managerial activities properly in the market. Based on the importance of this instrument, I have tried to utilise it efficiently. I have developed a suitable questionnaire that includes 10 different questions for the customers regarding the impact of R&D in capturing product demand and customers’ needs. These questions have multiple choices which can be answered by the customers.
In order to gather the details from the customers, I have conducted an online survey of customers of Unilever and Amazon. This way I can access more customers in the market and gather authentic information regarding their opinion on impact of research and development. Along with that, in the views of Wei et al. (2021), I have focused on developing the survey question based on the topic of this research instead of customer demographic information. Therefore, more details about the customers can be gathered instead of gathering unnecessary details in the research. Along with that, I have communicated with the customers to confirm that they have used products from Amazon and Unilever in the past. On that basis, customers from other companies have been avoided while using this instrument to improve financial performance. This is important for the research as it can help to develop quality of the research and I can present the data properly to achieve a conclusive outcome (Wei et al. 2021).
In order to gather the findings, in this instrument I have used Google Form which has helped to create graphs and charts based on the respondents. Therefore, the overall percentage of each response has been identified which is beneficial for the business. This helps to improve quality of my analysis as I can easily measure the impact of one variable on another (Scherpenzeel et al., 2020). As a result, using the statistical data, I can measure the actual impact of R&D on the business which is important. On that basis, I can provide genuine information to both Unilever and Amazon to determine how important R&D is for their businesses. Along with gathering information using the survey question, I have properly interpreted the findings based on the charts. The interpretation helps to determine how the companies have managed to capture customers’ needs and develop product demand using R&D in both Unilever and Amazon (Lindsay and Kong, 2020). This may help to improve the business performance of Unilever and Amazon over the years.
2.2 Conclusions
Based on the overall consideration regarding key readings and appropriate research method it has been identified that considering appropriate methodology is essential and can lead to acquiring adequate information that impacts the betterment of research outcomes. In this context, the selected research methods are focused on qualitative and quantitative aspects with interviews and surveys. The instruments in terms of interview guide and questionnaire are identified as the one that offers reliable and valid sources of information that allow researchers to focus on established research questions. For the following research, the research question has been justified in the above section specifically focusing on the context of R&D and the trends that are revolving around the marketplace. Besides this, a context of Amazon and Unilever has been incorporated in the question that would impact overall research understanding and interpretation.
The study focuses on the method of quantitative analysis through a survey that allows focusing on a standard question that addresses the aspect of considering the instance of consumer needs and requirements. From the above analysis, it has been identified that there are numerous benefits of a survey to characterise insights based on first-hand information that simplifies interactions with evidence for the researcher. Nevertheless, since the participants are strangers to the researcher, anonymity also inhibits the development of an emotional bond with them. Thus, it is necessary to consider the possibility of a low or inadequate response rate. Given this, I think it is important to consider the possibility of bias and danger while considering respondents in research.
All this consideration significantly increases the value of the research while focusing on its future investigation. Through the consideration of the instrument, the researcher would be further able to focus on the critical insight multinational companies like Amazon and Unilever focus on while investing in R&D along with being attentive towards consumer demand and needs. Moreover, with this consideration, the research would get wide information and evidence that would add up to fulfilling the purpose of the overall research while addressing the research problem.
Section 3
3.1 Relevance and audience
Across a range of organizational levels and functions, there is a potential audience for applying the results of research on the influence of R&D on assessing product demand and consumer demands for organizations such as Amazon and Unilever. The top leadership of these firms would be the primary beneficiaries of these findings. It can be stated that the CEOs, CTOs, and CMOs would greatly benefit from knowing how R&D affects the evaluation of client demands. They would use these results to manage resource allocation, make strategic choices, and set the general course of their marketing and R&D plans. Furthermore, an important audience would be the R&D departments themselves. The R&D departments of these businesses are at the forefront of invention and product creation (Yang et al. 2022).
Gaining an understanding of how their work affects customer needs will help them better target their efforts and make sure that their inventions closely match market demands. In order to match customer requirements more precisely and quickly, it might direct them in selecting certain research domains, making the most use of available resources, and speeding the development process. The teams in charge of product development and marketing would also greatly benefit. With the knowledge gathered from this study, these teams would be able to create marketing efforts that are both focused and customer-focused. Marketers may more effectively demonstrate the value of products and customize their messaging to connect with distinct consumer demands by knowing how R&D influences customer needs.
3.2 Communication of research
In order to disseminate the study findings, it is essential to take a strategic approach to report design, media presentation, and summarization. It is important to adopt a multifaceted approach that accommodates a broad spectrum of stakeholders and their preferred methods of information consumption. Furthermore, comprehensive reports that are tailored to the needs of R&D, marketing, and product development teams would offer thorough insights into the real-world applications of the study. Moreover, widespread dissemination might be facilitated by collaborations with associations, NGOs, public agencies, and business entities (Van Der Bles et al. 2020). Working with industry groups might help reach a large number of businesses, encourage conversations, and put the research and its results into effect through best practices. These insights might be utilized by NGOs and public organizations to guide policy decisions or create customer-focused initiatives. Academic institutions might also be collaborators, offering forums for additional debate, verification, and distribution of the findings via papers or conferences.
Conclusion
Based on the above study has shed light on the importance of R&D in analysing product demand among consumers of Unilever and Amazon. In this context, the study justifies the research methods to be used and sources for carrying out the study. The study also reveals the potential beneficiaries of the study and the way can be properly communicated.
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