4.

RESEARCH METHODOLOGY

Research Methodology is a way to systematically solve the research problem. The

Research Methodology includes the various methods and techniques for conducting a
Research.“Marketing Research is the systematic design, collection, analysis and
reporting of data and finding relevant solution to a specific marketing situation or
problem”. D. Slesinger and M. Stephenson in the encyclopedia of Social Sciences
define Research as “the manipulation of things, concepts or symbols for the purpose
of generalizing to extend, correct or verify knowledge, whether that knowledge aids in
construction of theory or in the practice of an art”.
Research is, thus, an original contribution to the existing stock of knowledge making
for its advancement. The purpose of Research is to discover answers to the Questions
through the application of scientific procedures. Our project has a specified
framework for collecting data in an effective manner. Such framework is called
“Research Design”. The research process followed by us consists of following steps:

4.1 Research Design:-

4.1.1 Conclusion Oriented Research: - The research was conclusion oriented
because this research aimed at identifying the differences between Materialism
vs. Consumerism. In other words it is a research when we give our own views
about the research.

4.1.2 Descriptive Research: - The research was a descriptive research as it was

concerned with specific predictions, with narration of facts and characteristics
concerning individuals specially Consumers. In other words descriptive
research is a research where in researcher has no control over variable, He just
presents the picture which has already studied.

4.2 Sample Design: - a sampling design is a definite plan for obtaining a sample from
a given population. It refers to the technique or the procedure the researcher adopts in
selecting items for the sample. The following factors need to be decided within the
scope of sample design:

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 4.2.1 Universe of the Study: - The universe of the study included
Consumers in India.

4.2.2 Sample Size: - Sample size is the number of elements to be included in

a study. Keeping in mind all the constraints, 100 Consumers were
selected.

4.2.3 Sample Unit: - Sampling unit is the basic unit containing the elements
of the universe to be sampled. The sampling unit of our study is
prospective Consumers.

4.2.4 Sampling Techniques: - The sampling techniques used are

convenience sampling technique and simple random sampling
technique.

4.3 Methods of Data Collection: - Research work is exploratory in nature.

Information has been collected from both Primary and Secondary data.

4.3.1 Primary sources: - Primary data are those, which are collected afresh
and for the first time, and thus happen to be original in character.
Primary data has been collected by conducting surveys through
questionnaire, which include likert scale questions and both open-
ended and close-ended questions.

4.3.2 Secondary Sources: - Secondary data are those which have already
been collected by someone else which already had been passed through
the statistical process. In this research project secondary source used
were books, online journals and websites.

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4.4 Tools of Presentation and Analysis: -
To analyze the data obtained with the help of questionnaire, following tools were
used.
4.4.1 Tools of Presentation: It means what tools were used to present the
data in a meaningful way so that it becomes easily understandable. In
this research tools used were tables and graphs.

4.4.2 Tools of Analysis: In this research the tools of analysis used were
Factor Analysis and Chi-Square Test. For this purpose, SPSS software
was meticulously used.

4.5 Limitations of the study:

Due to constraints of time and resources, the study is likely to suffer from certain
limitations. Some of these are mentioned here under so that the findings of the
study may be understood in a proper perspective.

The limitations of the study are:

• Time factor: The research was carried out in a short period. Therefore the
sample size and the parameters were selected accordingly so as to finish the
work within the given time frame.
• Inadequate data: The data provided was not sufficient due to which the
generalizations cannot be made.
• Biased ness: The information given by the respondents might be biased some
of them might not be interested to give correct information.
• Lack of knowledge: Some of the respondents could not answer the questions
due to lack of knowledge.
• Lack of scientific method: The lack of scientific training in research
methodology was great impediment in the research program.

These limitations were faced as they were an integral part of the research. However,
they did not affect the quality of analysis and presentation of the findings.

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