7th, January 2013
This business research performed on Wal-Mart’s online customers. This was seeking to establish the relationship between product pricing of Wal-Mart and its customer satisfaction. From this research therefore, it can be established if the customers of Wal-Mart are satisfied or dissatisfied with the prices offered by Wal-Mart. From the research findings, Wal-Mart can be in a position to adjust respectively in order to ensure the satisfaction of their customers. The analysis of data from this survey will go hand in hand with the data findings in order to be in line with the final decision of customers, whether they will shop at Wal-Mart or not, if the pricing of products is adjusted. The statistical data obtained will also play a contributory role to the customers’ final decision.
Statistical analysis in this business research plays the role of giving meaning and relevance to the data that was collected. Therefore, by clarifying the data collected, through the specification of the research question, the data will obtain meaningfulness. Equally, the preciseness of the information is important and contributes to the meaningfulness of data. In accordance to this survey, inferential statistics is necessary to determine the relationship between product pricing and customer satisfaction of Wal-Mart (Israel, 2009).
The first step in statistical procedure bases on the nature of research questions. The research questions in this survey provided a stable foundation for reliable findings. Through these research questions, the survey is well guided, and it is easy to determine the relationship that might exist between different variables. Customer satisfaction of Wal-Mart customers is highly dependent on Wal-Mart’s product pricing, which is the independent variable. Wal-Mart has a variety of competitors and these affect their business. Therefore, the product pricing of Wal-Mart’s competitors acts as the intervening variable, which affects Wal-Mart’s pricing, as well as their customers’ satisfaction (Israel, 2009).
The measurement of variables is important in this research as it provides the foundation for data gathering. In this survey, all the four levels of measurement have been employed. Data levels therefore, included nominal, ordinal, ratio, and interval. Interval and ratio measurement makes it possible effective statistical testing.
Steps to Minimize Challenges
In this business research, there were a few challenges experienced in the aspects of reliability and validity of the research questions, data, and analysis. However, there are different ways through which these can be dealt with, and addressed. First, coming up with concise and short research questions was problematic. On the other hand, reliability was low, considering that the survey was conducted on online customers, who take long to respond. A solution to this is to consider dealing physically with the customers. In addition, face-to-face interviews would be more appropriate as the interviewees will be in a position to give information that is more reliable (Bryman & Bell, 2007).
Face-to-face interviews also ensure that the interviewees answer all or most of the research questions, unlike online interviews where the customers choose to answer fewer questions. Equally, telephone interviews can take the place of face-to-face interviews, where the interviewees are not physically available. These interview methods guarantee a higher level of customer participation as compared to online questionnaires. The reliability and validity of research hence becomes satisfactory (Kumar, 2008).
Since the customers who were interviewed were online customers, most of the research questions did not wholly address the issues they are likely to experience in the online market in the near future. This is because of the dynamism that is experienced in online marketing as it is still in its initial growth stage. This therefore means that an update of the business research will be necessary in future, going by the changing trends in online marketing. This frequent updating of research will ensure that Wal-Mart adjusts to its customers’ changing needs.
Bryman, A. & Bell, E. (2007). Business Research Methods. London: Oxford University Press.
Israel, D. (2009). Data Analysis in Business Research: A Step-By-Step Nonparametric
Approach. New York: SAGE Publications Ltd.
Kumar, R. (2008). Research Methodology. New York: APH Publishing.
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