Statistics and Business Research Method on Business

Question: Discuss about the Statistics and Business Research Method on Business. Answer: Introduction: Advertisement describes paid form of non-personal communication that organizations utilize in order to provide information to the target audience (Chang 2014). Thus, it reflects that any promotional activity must have to in the paid form in order to be called as advertisement. Organizations utilize advertisement for creating awareness regarding the kind of products and services they will provide to the customers. In the present competitive business environment, organizations focus on the effective utilization of several techniques of advertisement in order to create positive impact on the business perspectives. It has been evaluated that advertisement can actually create major impact on the business development perspectives. For that reason, majority of the organizations tries to utilize all the forms of advertisement in order to fulfil all business objectives. Furthermore, competitive business environment has also induced organizations to consider all possible strategies so that it can actually able to create maximum amount of positive impact on the business perspectives. In this study, the focus will be on the evaluation of the kind of impact that advertisement can have on businesses of the organizations. The study will also will try to highlight the expected amount of positive and negative impact that advertisement can have on the businesses. Literature review: Effectiveness of advertisement: Effectiveness of the advertisement can be reflected as the extent to which a particular advertisement can able to create desired impact on the business perspectives. As per the article by Nettelhorst and Brannon (2012), measuring the impact of advertisement is extremely important, as organizations have to invest huge amount of money for sharing information through the advertisement. However, it is very difficult to utilize any global measure regarding the effectiveness of the advertisement. Therefore, organizations have to focus on several factors like marketing policies, behavior, and financial decisions at the time of evaluating the kind of impact that advertisement can have to on the businesses. As mentioned by Chang (2014) advertisement often interacts with several variables related to business. Furthermore, advertisement also focuses on the environment variables like economic conjuncture and competition in order to create desired impact on the businesses. Several studies have me ntioned that advertisement can create both short-term and long-term impact on the mind of the potential customers (Vasseur 2016). Technological evaluation has provided huge amount of opportunities for the organizations to utilize different platforms for the effective utilization of advertisement. Advertisement platforms like television and social media allows organizations to target large number of customers in an appropriate way. Chih-Chung, Chang and Lin (2012) have highlighted two basic models namely The dichotomous model and The three-dimensional model for the proper evaluation of the effectiveness of the advertisement. The dichotomous model: As per the article by Goyal and Sharma (2014) the dichotomous model is primarily utilize in the brand or product advertisement. The model focuses on two factors including sales effect and communication effect in order to estimate the kind of impact that advertisement can have on the businesses of the organization. Sales effect reflects the evaluation of capability of advertising to create impact on the total volume of sales regardless on the influence of any other external factors. As opined by Yeh (2015) the effectiveness of advertisement will have to be evaluated on the kind of short-term impact it can have on the on the overall sales volume for a particular organization. Marginal theory is among the popular way to measure the performance level of advertisement. For that reason, advertisement is regarded as an independent factor that can be utilize with other marketing factors in order to create major impact on the several dependent variable like sales for the organization (Ganesan , Sridhar and Priyadharsani 2016). Organizations aim to utilize all the independent and dependent variables effectively so that it can create maximum impact on the businesses. On the other hand, communication effect refers to the ability so share important messages to the target markets effectively. As per the article by Dwivedi and Bansal (2014), organizations can utilize different approaches including sociological, semiotic, psychological and socio-psychological. Sociological analysis focuses on considering a particular community in order to evaluate the social rules and social norms are implemented in that particular community. It helps advertisement to communicate messages in such a way so that every people in the community can able to understand the message in an appropriate way. Semiotic analysis focuses on particular symbols like gesture, words, dance and images that can convey specific meaning. It helps to share messages to the target market in such a way so that it can able to create best possible impact on the business. As per the article by Aguirre et al. (2015), motivation has the potential to affect the behavior of the customers in a major way . The psychological communication approach focuses on the enhancement of the motivational level of the potential customers so that it can able to create desired amount of impact on the businesses. Finally, socio-psychological approach examines the effectiveness of advertisement concerning persuasiveness. It also observes the expected formation process of memory, attention, behavior and attitude. However, the dichotomous model also has gone through several criticisms. The model is concerned about the partial assessment but it does not focus too much on providing reliable breakdowns of the impacts that can be achieved by advertisement or other company politics like communication and marketing. The three-dimensional model: The three-dimensional models (i.e. Dagmar model and AIDA model) utilize both planning and evaluation of the effectiveness of the advertisement campaigns. These models propose a hierarchy of cognitive affect, behavioral and communication that can help to evaluate the kind of impact advertisement can have on the businesses. As per the article by Kim and Joo (2015) cognitive dimension analysis focuses on the understanding of the messages and also storing it in an appropriate way so that it can be utilized for the future enhancement process of the advertisement. On the other hand, the affective dimension is related to the attitude towards the perception of the communication that advertisement utilize in order to enhance the businesses in an effective way (Gilbert-Diamond et al. 2016). It also helps to investigated the kind of emotional acceptance that a particular advertisement has able to create on the mind of the potential customers. Thus, it helps to evaluate different opinions of the customers regarding the effectiveness of the advertisements so that it can able to create good image in the market successfully (Gierl and Schneider 2016). As per the article by Shea (2015), the behavioral dimension reflects the changes in the intentions and buying behavior of the customers that affect the effectiveness of the advertisement. Thus, three-dimensional models are primarily focused towards prime elements like recipients (memory, audience and storage) and feedback (behavior, opinion and attitude). However, in this present competitive business environment, organization focusing on the utilization of different platform in order to create maximum impact on the business. Utilization of electronic media and social media has increases the complexity of advertisement (Choi and Yu 2013). For that reason, three-dimensional models focus on the utilization of effective communication process in the advertisement campaign so that it can able to create maximum impact on the market. Literature gap: The above discussion highlights the fact that advertisement can create serious impact on the business perspectives. However, technological upgradation has provided organizations more options to create desired amount of impact through advertisement. In fact, social media platforms like Facebook, LinkedIn and Twitter has provided organizations to capture global customers through very little investment compared to any other advertisement platform. Therefore, it has become very difficult for the organizations to evaluate the exact amount of impact that advertisement can have on the businesses. Research questions: In order to evaluate the effect of advertisement on businesses, the research questions are developed as follows: Is advertisement has the capability to create major impact on the profit level of the organization? How utilization of different media for advertisement can create positive impact on the profit level of the organization? Which media can have maximum amount of impact on the businesses? What will be the suggested way of utilizing advertisement so that it can able to create maximum impact on the businesses? Research methodology: Research outline: Research outline focuses on the evaluation of all the factors related to research study. In order to analysis the expected impact of advertisement on business, the outline of the research includes elements like research design, research approach, research philosophy, data collection and analysis procedure. The research study will focus on the effective evaluation of all the factors in order to identify the best possible way to analyze the kind impact that advertisement can have on the businesses. Thus, in order to analyze the effect of advertisement on business, the research study will select positivism research philosophy, deductive approach and descriptive research design. The research study will also focus on the effective utilization of primary and secondary data collection procedure so that research study can able to fulfill all its objectives. Furthermore, the research study will utilize quantitative and qualitative procedure in order to identify the expected amount of impact t hat advertisement can have on the businesses. Research philosophy: As highlighted by Akhlaq and Akhtar (2015) research philosophy plays a critical role in successful completion of any research study. Generally, research philosophy can be divided into three parts namely interpretivism, positivism and realism. In order to evaluate the effectiveness of the advertisement, positivism research philosophy will be selected, as it will the research study to analyze different factors in an appropriate way. Positivism research philosophy will also provide assistance on the effective utilization of the research topic. It also helps the research study to include hidden information effectively. On the other hand, the research study will not utilize other philosophies, as it will prolong the stipulated time for the successful completion of the research study. Research approach: Research approach is another important aspect that can create positive impact on the effective evaluation of the advertisement on businesses. Research approach helps to include in-depth information and knowledge about the topic. Inductive and deductive are two prime approaches that research study includes in order to fulfill all the objectives in an appropriate manner (Wang and Schaefer 2014). However, in order to evaluate the effect of advertisement on business, deductive research approach will be chosen. Deductive approach allows the research study to include several theories and concept related to the topic. Thus, inclusion of many theories and model related to research study actually assists the study to add value, which eventually creates positive impact on the successful fulfillment of the research study. On the other hand, the research study will not consider inductive approach, as the study does not require inclusion of any new concepts. Research design: As per the article by Furnham and Goh (2014) research design helps the research study to structure information in a proper way. Traditionally, research design can be divided into three parts explanatory, exploratory and descriptive. In order to evaluate the effect of advertisement on business, the study will utilize descriptive design, as it will help to analyze relevant data related to research study in an effective manner. It also will create positive impact on measuring all the prime factors related to research proposal effectively. Project plan: Figure 1: Gnat chart (Source: As created by author) Research process: As highlighted by Jeong and Jang (2016) development of research process is extremely important is extremely important for the successful completion of the research study. For the evaluation of the kind of effect that advertisement can have on the business, the research study will focus on the systematic implementation of procedure. Firstly, the study will develop an overview of the research topic in order to develop clear aim and objectives. In the second step, the focus will be on the development of the literature review. In this portion, the study will include in-depth secondary information so that it can able to evaluate the previous researches in an effective manner. The study will also include several theories and model in order to create additional value to the research study. In the third step, the research study will focus on the selection of research methodology so that it can able to fulfill all the requirements in an appropriate manner. Forth step will include data collect ion and analysis procedure, as it will help the study to utilize collected data in an appropriate way. Fifth step will include assessment of expected outcomes, as it will help the study to conduct the research methodology in an effective way. Figure 2: Research process (Source: As created by author) Data collection and analysis: As per the article by Marian (2016), effective utilization data collection procedure is extremely important for fulfilling all the objectives of the research. Generally, secondary and primary are the two form of data collection procedure that research studies utilize for the successful fulfillment of the research. For the evaluation of the kind of impact that advertisement can have on the businesses, the research study will consider primary data collection procedure. The study will consider primary procedure, as it can provide practical information regarding the kind of impact that advertisement can have on the businesses. Furthermore, the study will utilize both quantitative and qualitative form of data techniques in order to gather relevant information regarding the impact of advertisement of businesses. The research study will utilize two separate set of questionnaires for the collection of quantitative and qualitative information regarding the research topic. In the quantitative questionnaire, only closed-end questions will be included. On the other hand, qualitative questionnaire will only have descriptive questions. The research study will select 75 executive level marketing personnel in order to capture quantitative information regarding the kind of impact that advertisement can have on the businesses. The research study will utilize online survey technique for the collection of effective quantitative information. In case of the collection of qualitative information, the research study will select 10 manager level marketing personnel. Face-to-face interview will be conducted in order to identify different perspective of the managers in an appropriate manner. It can be mentioned that the study will utilize non-probability sampling techniques in order to select the respondents. The selection of non-probability sampling technique will help the research study to capture relevant information in an appropriate way. Moreover, the research study will utilize different statistical tools including mean, median and mode for the effective evaluation of the data. The research study will also include statistical tools like correlation and regression techniques so that it can able to fulfill its objectives in an appropriate manner. Research outcomes: The above discussion highlighted the fact that effective utilization of advertisement is necessary for all the organizations regardless of industry in order to achieve sustainable growth in the market. Furthermore, the research study is expected to depict that organizations will have to utilize different platforms in order to create maximum impact for the advertisement. It is also expected that the research study will able to suggest a way through which organization can actually enhances the effectiveness of the advertisement for the development of business perspectives. References: Aguirre, E., Mahr, D., Grewal, D., de Ruyter, K. and Wetzels, M., 2015. 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