Good Example Of Research Hypothesis: Research Proposal
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Trade by barter system is one of the earliest means to acquire material and immaterial possessions many centuries back when money was not yet invented. Exchanging on hand items with a new one or with something more valuable enables people in the olden days to get what they need in everyday life. The barter system paved the way to the development of money, which made the exchange more organized and systematic (Mint, 2013).
The barter system may present some loopholes regarding fair trade; one may ask if the item being traded with is worth the item being acquired? What is the basis of exchange? How do you identify if an item is at par with another? In the modern age, those questions are replaced by “Am I getting my money’s worth?” With these questions, the researchers chose to focus on the factors that may affect customer satisfaction to the monetary value or price of an item or service being purchased.
Objective of the study
The goal of the study is to identify whether the overall price range of the goods and services significantly influences customer’s satisfaction level after sales in Sainsbury’s, Tesco. The study also intends to specify other significant factors that may positively influence consumer feedback, ranking the significant factors by order of most important to least important as shown in the results after the data analysis.
This paper aims to prove that there is a significant relationship between monetary value and customer satisfaction in Sainsbury’s, Tesco.
There is no significant relationship between monetary value and customer satisfaction in Sainsbury’s, Tesco.
The researchers will use both quantitative and qualitative research methods to gather data for the study. The researchers will conduct an analysis of the market value of goods and services in the Supermarket Industry prior to sampling. A set of questionnaire aiming to measure customer satisfaction will be devised to survey the sample of the chosen population before and after sales to the consumers in Tesco at Sainsbury’s. The researchers will also conduct a face to face-to-face discreet conversation to the customers, taking note of different social cues like facial expression, voice timbre, and body language. The conversation will be recorded with a camera for purposes of review and qualification.
The researchers decided to make use both qualitative and quantitative research methods in the study to determine customer satisfaction. The questionnaire given to the customers aims to specify the different factors that contributed to their opinion towards their purchase. This also gives the researchers minimum subjectivity concerning the result of the study. On the other hand, the researchers also decided to include a candid interview with the customers to capture the genuine reactions by the customers. This method will further give value to the study as it may support to the survey. Having the qualitative side of the research may not only strengthen the outcome, it will also ignite a new set of inferences, thus making the study open for further research.
A market analysis will help the researchers benchmark the chosen industry’s goods and services. Knowing this will make it easier to identify whether the store’s goods are within, below, or above the market value. This is important since it will also help determine the profile of the store’s clientele.
Questionnaires given to the customers will aim to pinpoint the different factors that affect customer satisfaction with focus on the importance of the monetary value in the customers’ purchases. These questionnaires will be the basis of identifying if there is a relationship between the price of the purchase and customer satisfaction.
Review of Related Literature:
Monetary value – is the price of an item or service bought with money as a medium of the same worth. This will be the determining factor of customer satisfaction (Education Portal, 2015).
Customer satisfaction – is the degree of contentment by the buyers about the item or service bought with their money (Anon, 2015). This will be the variable to be measured by the end of the study.
Market Value – the determined price of a product or service across the industry (Investopedia, 2003).
Finalize the store and location from which to conduct the study (Sainsbury’s)
Gather information for benchmarking to identify the market value of the products and services in a given industry
Categorize whether the goods and services of the store is below, within or above the market value
Prepare the questionnaire and have a sample run of the survey
Finalize the questionnaire
Prepare the questions for the candid interview
Finalize the questions
Coordinate with the store owners for the proposal to be a part of the study
Identify the sample
Schedule the dates and time for the data gathering
Follow the schedule and proceed with the data gathering
Collect the data for analysis
Consent from the store owners
The researchers will send a proposal letter to the pool of storeowners asking for their consent and approval to conduct research in their store during store hours at a given schedule. Research will not be conducted when the storeowner declines the proposal. A written agreement will be provided for the protection of both parties.
Informing the participants
Participants for the said study will be informed that they are subjects for research. The researchers will notify them as they pay for their purchase.
Confidentiality and anonymity
Participants are assured of the confidentiality of their identities when answering the survey as well as when answering questions in front of the camera. This agreement will be stated in the questionnaire as well as said face to face before the researchers ask the questions.
Outcome of the study
The results of the study will be sent to the storeowners that are involved in the study. Participants or customers who answered the questionnaire may view the results of the study, depending on the prerogative of the store management.
A token of appreciation will be given to the storeowners and the participants for their time participating in the study.
BusinessDictionary.com, (2015). What is customer satisfaction? definition and meaning. [Online] Available at: http://www.businessdictionary.com/definition/customer-satisfaction.html [Accessed 8 Feb. 2015].
Education Portal, (2015). Monetary Value: Definition, Examples & Quiz | Education Portal. [Online] Available at: http://education-portal.com/academy/lesson/monetary-value-definition-examples-quiz.html [Accessed 8 Feb. 2015].
Investopedia, (2003). Market Value Definition | Investopedia. [Online] Available at: http://www.investopedia.com/terms/m/marketvalue.asp [Accessed 8 Feb. 2015].
Mint, (2013). Barter System History: The Past and Present. [Online] Available at: https://www.mint.com/barter-system-history-the-past-and-present [Accessed 8 Feb. 2015].
Please remember that this paper is open-access and other students can use it too.
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