Kedar.Kulkarni Jason. Bardeskar Jagdish. Kale Yogesh. Daingade Akshay. Deshmukh.
BUSINESS RESEARCH METHODOLOGY
A BUSINESS RESEARCH METHODOLOGY REPORT ON GAMING CONSOLES
ACKNOWLEDGEMENT
The Business Research Methodology paper, Factors Affecting Consumers Decision Making while Purchasing a Gaming consoles is the most important addition to the practical application of theoretical knowledge and experience on real research aspects. This is really a delightful experience.
It is amazing and fascinating finding that so many dependable people around, who have given necessary guidelines and advices while formulating this paper. Learning what determines a good employer, I remain ever grateful to them, who all have helped to write this report. I also extend my acknowledgement to all those, who helped me by answering my queries pertinent to the data collection of my report.
A special debt is due to my instructor Prof. MANISHA PARPIANI, our respected faculty for the valuable guidance in the preparation of this report. I have been immensely benefited from her valuable guidance in the process of understanding and preparing this report. Without her active support, continuous encouragement, and constructive criticism, probably it would not have been possible to write an informative and objective report. Her active assistance in working out a framework for the paper has helped to complete the assignment within given time.
I also acknowledge the contributions of the librarian of IBS MUMBAI for allowing me to utilize the library facilities.
EXECUTIVE SUMMARY
This study focuses on analysis of the factors that affect a consumer while making purchase decision of a gaming console. The TEN factors I considered, here are INTEREST V1 COST V2 PlayStation V3 Nintendo V4 innovation V6 Computer use for gaming V7 Mobile game play V8 Virtual reality V9 Compatibility V10 Both primary and secondary data has been used. Primary data were collected from the direct responses from the sample size of 53 comprised of person of different demographics. Because of the conclusive nature of the research, primarily I used quantitative questioning (on 5 scale liker scale) in the surveys. For the secondary data, different established theories and articles was reviewed. An exploratory research with some respondents were also conducted to gain the practical insights of this research and to get the prime factors that affect consumers while purchasing a gaming console. SPSS 21 was used for regression analysis and to measure the significance of independent variables on the dependent variable.
After doing the required statistical operations, I got the finding. It was revealed that, only COMPUTER GAMING has significant effect on consumers decision making process. The other variables are not significant and thus rejected.
INTRODUCTION
A video game console is an interactive entertainment computer or customized computer system that produces a video display signal which can be used with a display device to display a video game. The issues regarding consumer preference in buying a gaming console involves price of the product, quality of the gaming consoles, brand image of the gaming consoles, convenience of the store.
Customer behavior study is based on consumer buying behavior, with the customer playing the three distinct roles of user, payer and buyer. Consumer behavior is influenced by: demographics, psychographics (lifestyle), personality, motivation, knowledge, attitudes, beliefs, and feelings.
Consumer behavior is concerned with consumer need. A consumer action in the direction of satisfying his/her needs leads to his behavior. Consumer decision making is a process that intertwines various stimuli towards the purchase decision. Marketers all over the world are trying to find out what factors are responsible for the final decision taken by an individual.
This study will find the significance of factors that affect consumers to purchase a gaming console.
Origin of the report;
The main purpose of the study is to fulfill the requirements of Business Research Methodology (BRM) as the part of our PGPM program. As a student of Business Research Methodology, we were assigned by our course instructor Prof. MANISHA PARPIANI to involve in this study. The course BRM as well as this report helps a student to get necessary knowledge which is very useful for the students in building their future career.
Objective of the study;
Broad Objective
The main objective of this report is to get the practical insight of the techniques and strategies of conducting a research project.
Specific Objectives
To identify the underlying factors that affect consumers to choose a gaming consoles.
Research Question
This research gave the opportunity to dig into the specific issues that a consumer assesses while purchasing a gaming consoles. This topic will provide the insight to learn the influences of behavioral variables of the consumers which in turn lead to the purchasing decision. Perspective like the effect of brand image will be brought into the topic. Finally, the findings of the result will be used to make theories and shared to the different retailers and wholesalers of gaming consoles.
The principle objective of this report was to identify when, why, how, and where people do or do not buy a gaming consoles or some gadgets with gaming as an facility. This study also dealt with the variables that affect the consumer purchasing decision. The weight and significance of the variables were measured as well.
RESEARCH METHODOLOGY The research is basically both exploratory and conclusive in nature
EXPLORATORY RESEARCH The Universe defines as comprising of people who had avail, purchase for gaming consoles. Exploratory Research aimed at finding out the drivers of consumer behavior.
CONCLUSIVE RESEARCH Conclusive Research consisted of Administer Survey through questionnaire. The questionnaire mainly had closed end questions. The Final Questionnaire consisted of questions based on factors affecting the consumer behavior.
DESCRIPTIVE RESEARCH: Descriptive design is also followed in this report. It has following characteristics: Aware of the problem: Customers taste and preferences are changing and sales are declining in many companies. Describe characteristics of sample units: Survey was conducted among 53 respondents. Demographic characteristics i.e. age and gender of respondents was taken into account.
1.SAMPLE; The researcher in this section defines the target population and sampling method put to use. This section contain other necessary information such as, probability, non-probability, cluster sampling etc. The sample was heterogeneous. We had ten independent variables in my study. Hence, a total of 53 responses were collected from students, and different youth groups. Most of the responses were collected from students as it was convenient to us and also because we did not assume that it will have an adverse affect on data collected.
Moreover, most of the respondents were male because we thought that as majority of the buyers of gaming consoles in our country are males; it will help me identify the answers in an efficient manner.
In our survey, we found that majority of the respondents lie within a certain age range and most of them have a certain income range because the survey was heavily dominated by people doing their Postgraduates program.
2. REASEARCH DESIGN; The research design has to be custom made to the research purpose and should contain information on: Nature of the research design; Design of questionnaires; Questionnaire development and pre-testing; Data that was gathered; Definition of interview and type of interview; Source from which data was collected; Scales and instruments used; Design of sampling, coding and method of data input; Strengths and weakness; Copies of materials used and the technical details;
3. Data collection; The contents of this section depends on the research design as the name implies, data collection pertain to the information about: Time of data collection; Field condition during data collection; In case of any secondary data was used, and then the relevance of that data should be given. Details of field instruction and any other necessary.
4. Limitation; Time constraints were one of the most important factors that imposed restrictions on conducting the study extensively. Scarcity of Secondary Data Our sample size was small Cost constraints. Lack of experience.
5. Findings Most of the space in the report is devoted to this section. This research presents all the relevant data but makes no attempt to draw any inferences. Charts, graphs, and tables are generally used to present quantitative data like here is scree plot.
RESULTS INTERPRETATION: 1. KMOS AND BARTLETTS TEST - KAISER MEYER OLKIN TEST is done to describe whether the size of respondent is appropriate or not. If KMOs significance is more than or nearer to .5 than the no. of respondent will be appropriate. So in our report analysis from SPSS we found that KMOs significance = .616 Here KMOs sig is greater than .5 so we conclude that respondent size is appropriate to take survey. -BARTLETTS TEST signifies correlation between the variables, also it states that matrix is unit or not. BARTLETTs sig < .05, we will reject H0 (means matrix is not unit and there is correlation between variables) H0 : matrix is Unit(correlation is not exist between variables) H1 : matrix is not unit(correlation between variable exist) In our report analysis BARTLETTs test significance level = .000 So here correlation between variables exist, hence matrix is not unit.
2. How many factors to be extracted? Factors are extracted on the basis of four methods: A. EIGEN VALUE Variables, whose EIGEN value is more than 1, will be extracted. B. Cumulative % of variance variables, whose cumulative % of variance is more than 60% that will be extracted. C. Scree plot scree plot is a graph with y-axis as EIGEN value and x-axis as no. of variables. After a sudden bend in the line of a graph respective to that variable we will extract the variables. D. A priority determination we will decide extractable variables beforehand only. So as per our report analysis from SPSS we will extract variables on the basis of EIGEN value From the total variance table of SPSS, variables whose EIGEN value is more than 1 will be extracted So in that table 4 variables are having EIGEN value more than 1, hence factor extraction = 4.
3. Interpretation of scree plot? In the scree plot, at the variable 5, there is a sudden bend and so there are 5 variables which are to be extracted. 4. Name the factors that are extracted (factor rotation)? There are four factors which are extracted and from each component we will choose the variables which are above = 0 .7 variance. FACTOR 1 = PRIORITY FACTOR First factor consists of three variables which are having more than .7 variance. They are interest,cost,ps having variance 0.701,0.858,0.782 respectively. FACTOR 2 = INNOVATION FACTOR In 2 nd factor, innovation and mobile devices are the two variables which are having variance more than 0.7 so they will be extracted from it. There variance are .744&.772 respectively. FACTOR 3 = NEED FACTOR In 3 rd factor , reality and compatibility are the variables which are having there variances nearer to 0.7 and so they are extracted from this factor. Their variance is .755&.811 respectively. FACTOR 4 = GADGET FACTOR In 4 th factor, computer is the variables which is having variance nearer to 0.7 and so they are extracted. Its variance is 0.860 respectively.
5. Find the surrogate variable? Surrogate variable is the one which has highest correlation among the variables in each factor. After considering each factor the surrogate variable is COMPUTER because it has the highest variance correlation i.e. 0.860. 6. Find multiple regressions of three variables i.e. age, gender, surrogate variable and interpret it? In our research of multiple regression we had taken COMPUTER variable as a surrogate variable as it has highest variance within all factors of the product gaming consoles. So through SPSS software we interpret the correlation between the variables as follow: Annova table is used to identify whether the overall model is significant or not. If the sig level is less than 0.05 than we will reject null hypothesis and overall regression model is consider as significant. But in our research sig level of annova table is 0.804 which is more than 0.05 hence we will accept null hypothesis and overall model is not significant. Talking about each variable as its sig level both variables are having their sig value more than 0.05 and so they are not significant to calculate correlation between them.
7. Predict Y for X1 = 27, X2 = 1(male)? Y = b0 + bX1 + bX2 Y = 2.561 + (.006) (27) + (-0.188) (1) Y = 2.561 + 0.162 -0.188 Y = 2.535 As we got Y = 2.535, we can say that computer as a surrogate variable had received a scaling of 3 which is AGREABLE discount from the age group of 27 males.
FACTOR ANALYSIS
KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .616 Bartlett's Test of Sphericity Approx. Chi- Square 119.05 5 Df 45 Sig. .000
Communalities Initial Extracti on Interest 1.000 .564 Cost 1.000 .783 Ps 1.000 .619 Nintendo 1.000 .777 Xbox 1.000 .557 Innovation 1.000 .647 Computer 1.000 .796 mobile devices 1.000 .637 Reality 1.000 .801 Compatibili ty 1.000 .772 Extraction Method: Principal Component Analysis.
Total Variance Explained Compon ent Initial Eigenvalues Extraction Sums of Squared Loadings Rotation Sums of Squared Loadings Tot al % of Varian ce Cumulati ve % Tot al % of Varian ce Cumulati ve % Tot al % of Varian ce Cumulati ve % 1 2.77 3 27.730 27.730 2.77 3 27.730 27.730 2.31 4 23.136 23.136 2 1.64 8 16.478 44.207 1.64 8 16.478 44.207 1.81 5 18.152 41.288 3 1.50 2 15.025 59.232 1.50 2 15.025 59.232 1.59 5 15.948 57.237 4 1.03 1 10.306 69.537 1.03 1 10.306 69.537 1.23 0 12.301 69.537 5 .707 7.075 76.612
Component 1 2 3 4 Interest .701 .227 .130 -.061 Cost .858 .153 .085 .127 Ps .782 .024 -.082 .031 Nintendo .637 -.195 -.287 .501 Xbox -.007 .541 -.450 .247 Innovation .126 .744 -.035 .277 Computer .076 .208 .087 .860 mobile devices .138 .772 .109 -.098 Reality .144 .399 .775 -.147 Compatibili ty -.087 -.236 .811 .225 Extraction Method: Principal Component Analysis. Rotation Method: Varimax with Kaiser Normalization. a. Rotation converged in 7 iterations.
REGRESSION ANALYSIS
Variables Entered/Removed a
Mod el Variables Entered Variables Removed Metho d 1 gender, age b
. Enter a. Dependent Variable: computer b. All requested variables entered.
Model Summary Mod el R R Square Adjusted R Square Std. Error of the Estimate 1 .093 a .009 -.031 1.18377 a. Predictors: (Constant), gender, age
ANOVA a
Model Sum of Squares df Mean Square F Sig. 1 Regressi on .614 2 .307 .219 .804 b
Residual 70.065 50 1.401 Total 70.679 52 a. Dependent Variable: computer b. Predictors: (Constant), gender, age
Coefficients a
Model Unstandardized Coefficients Standardi zed Coefficien ts t Sig. B Std. Error Beta 1 (Consta nt) 2.561 .502
5.099 .000 Age .006 .015 .061 .433 .667 Gender -.188 .361 -.073 -.521 .605 a. Dependent Variable: computer
Conclusions
In this study, consumer decision making process for purchasing gaming consoles was tested by using ten independent variables. The research was done to identify which factors have significant influence on the matter. The ten independent variables are;
The results of the study show that COMPUTER GAMING has a positive and significant Influence on consumer decision making. Perhaps, consumers prefer a better branded than A non branded gaming consoles. They dont mind paying more money for a gaming console that has a good brand name.
Bibliography
1) Research Methodology Concepts and Cases- Deepak Chawla, Neena Sondhi 2) Internet. 3) SPSS Software