statistics and business research method

| June 7, 2016

Question
Business research proposal

This research proposal intends to analyse the demand for indoor sports equipment amongst the elderly. There is a huge customer base for indoor sports but this research paper focus on the specially customised equipment for the elderly in those sports. Through this research, the aim is to gain an understanding of what would be a successful business strategy to target the elderly who have more than sufficient resources along with the desire to indulge in recreational activities. The final goal of a series of researches that build upon each other is to start up a successful business which sells specialised indoor sports equipment for the elderly.

Therefore, an understanding of what exactly the requirements of the customer are is a necessary first step towards running a successful enterprise. This research proposal follows a qualitative methodology for a simple reason that unless specific needs are being fulfilled; in this cut throat environment the entrenched competitors would simply wipe off a fledgling business. Another important thing to note is that in order to get sufficient eye balls, a very small player needs to understand the customer better than any other player. The motive of this research is to start a business that can generate revenue from selling equipment to the elderly. Therefore, a special focus needs to be given to the health requirements to the elderly so that there are no mishaps due to the use of equipment

Research question

This research proposal is to find out what kind of games would the elderly be most interested in participating.

Literature review

As the focus of this research is sports, insights from other sun industries have been taken into consideration. Sports business can be fragmented into various age groups. The needs of each group vary significantly but the main motive of every customer is almost always for recreational purposes. One of the fundamental motives is always a better health, especially in the case of the elderly.

It is clear the elderly stand to benefit from indoor sports. Thus, participating in a social cause should also help the startup business as it goes through the rough phase of initiation (Haskell, Lee, Pate, Powell, Blair, Franklin, … & Bauman, 2007).The sports industry is very vast and hence offers a lot of opportunities.Sports industry is considered to be a sort of unique industry for not having any clear demarcation about its boundaries (Humphreys, Ruseski, 2008). This is also a very mature industry, the number of competitors is bound to be high. Also the sports market at a first glance seems to be saturated. However, on digging deeper, one understands that individual segments can still be targeted provided much customised solutions are provided to the intended customers.

Research Methodology

This research would be conducted by using simple random sampling to select 50 participants for interviews. Interviews have been specifically chosen as the mode of collecting data because it is assumed that the participants in this case which are the elderly people, would find it more convenient to answer questions face to face at their own pace and convenience. The questions in the interviews would be geared towards understanding the needs of the participants from a recreational point of view. These interviews would also focus on understanding what apart from indoor sports would count as recreational activity that the participant would like to indulge in.

Selection of variables

There are a number of independent variables which affect the final goal of starting up a business of customised indoor sports equipment for the elderly. These include the competitors who sell sports equipment, the number of elderly who would be ready to buy such equipment and the cities in which the elderly most wish to reside after the retirement. However, all these variables would become a part of subsequent research that will have a quantitative focus. For this research the primary focus is to understand the latent needs of the individuals who are assumed to be the potential customers.

Data Analysis

The data collected from interviews would be analysed from a reference point of understanding the needs of the customer. Specific requirements would be gathered from the data and these requirements would in turn be used for further research to gain a more concrete understanding of this business proposal.

Constraints

A major constraint of this research is the absence of quantitative data is a hindrance towards drawing concrete conclusions.

Another constraint is to match the equipment with the requirements of elderly but also making sure that the safety of the participants is not compromised. Therefore, the research requirements have to be carefully understood and fine-tuned by sitting with an equipment expert. As a worst case scenario, the expert may suggest that the whole venture is not feasible because the requirements of the elderly cannot be met without risking their safety.

Results

The results of this research would detail the requirements of the elderly in terms of the games they would like to play. Building on this research, further research topics that would be explored are the economic viability of this business, the locations where this business will be the most profitable. Subsequent researches methodologies would have a quantitative focus.

The research proposal would serve to provide an understanding of the needs of the customer, which would in turn help in fine tuning the proposed business.

References

Haskell, W. L., Lee, I. M., Pate, R. R., Powell, K. E., Blair, S. N., Franklin, B. A., … & Bauman, A. (2007). Physical activity and public health: updated recommendation for adults from the American College of Sports Medicine and the American Heart Association. Circulation, 116(9), 1081.

Humphreys, B., & Ruseski, J. (2008, July). The size and scope of the sports industry in the United States. In IASE Conference Papers (Vol. 833). International Association of Sports Economists..png” alt=”holmes”>

HOLMES INSTITUTE

FACULTY OF HIGHER EDUCATION

HI6007 Assessment Three

Business Research Report Proposal: FINAL Research Proposal

Due Friday Week 12

2500 words worth 20%

The FINAL research proposal will consist of the following NINE (9) items:

1. A business research topic.
Strengthen and improve initial proposal.

2. A brief literature review of the research topic
Produce 2 to 3 pages on background information on your research topic.

3. Research questions for the identified problem or opportunity
Strengthen and improve initial proposal

4. Appropriate research methodologies and techniques to use for the research project
Strengthen and improve initial proposal

5. A project plan using a Gantt Chart and clearly defined milestones (if in a group with clearly defined individual tasks, contributions and milestones)
Use Microsoft Project or other software to produce the Gantt Chart.
Your milestones for HI6008 are:
Week 6: Literature Review due.
Week 10: Data Collection and Analysis Report due.
Week 14: Final Business Research (Capstone) Thesis due.

6. Description of the research process
Strengthen and improve initial proposal

7. Description of data collection and analysis methods
Strengthen and improve initial proposal

8. Description of expected research outcomes
Strengthen and improve initial proposal

9. A completed Ethics Checklist.
Complete and sign ethics checklist below and attach with FINAL research project proposal.

All students will need to pass the final research proposal submitted in week 12 to be able to start the capstone research proposal in HI6008 the following semester.

Submit hard copy of FINAL research report to Holmes by 4pm on Friday of Week 12.

ETHICS CHECKLIST FOR STUDENT RESEARCHERS

· This checklist is designed to alert you to your ethical obligations when you conduct research involving human subjects.

· These questions must be answered when a research project is proposed and before a research project is implemented.

· Attach the completed checklist to your final research proposal in week 12.

Student Name and ID:_______________________________________

Title of the Project: ______________________________________________________________________

Please circle your answers:
1) Will the human subjects be informed of the nature of their involvement in the collection
of data and of features of the research that reasonably might be expected to influence
willingness to participate? Yes No

2) Will the human subjects be told that they can discontinue their participation at any time? Yes No

3) Will the human subjects in your study be aware that they are the targets of research? Yes No

4) If the subjects are underage, will their guardians be asked to sign the consent form? Yes No N/A

5) Is the confidentiality of the human subject’s identity positively ensured? Yes No

6) In cases where there is a possibility that the human subject’s identity can be deduced by Yes No
someone other than the researcher, is the subject’s right to withdraw his/her data
respected?

7) Will the researcher fulfil all the promises made to the human subjects including providing Yes No
the summary of the findings upon request?

8) Will all necessary measures be taken to protect the physical safety of Yes No
the human subjects from dangers such as faulty electrical equipment, poor
grounding, lack of oxygen, falls, traffic & industrial accidents, possibility
of hearing or vision loss etc.?

9) Will the human subject be debriefed (told the true nature of the study) after Yes No
the data has been collected?

10) In cases in which the human subject is dissatisfied or a complaint about the researcher or Yes No
procedure, will the researcher explain to the human subject that he or she may express
this complaint to the Subject Coordinator?

11) Does the study involve concealment from and/or deception of the human subject? Yes No

12) Will deception be used in order to obtain agreement to participate? Yes No

13) Will the study involve human subjects who are legally or otherwise not in a position to
give their valid consent to participate such as children, prison inmates, mental patients? Yes No

14) Will information on your human subjects be obtained from third parties? Yes No

15) Will any coercion be exerted upon subjects to participate? Yes No

16) Will the study involve physical stress to the human subjects such as might Yes No
result from heat, noise, electric shock, pain, sleep loss, deprivation of
food and drink, drugs, alcohol?

17) Will the study cause any mental discomfort to the human subjects such as fear, Yes No
anxiety, loss of self-esteem, shame, guilt, embarrassment etc.?

18) Could publication of the research results possibly interfere with strict confidentiality? Yes No

19) Could publication of the research results possibly harm the human subject –
either directly or through identification with his/her membership group? Yes No

20) Are there other aspects of the study that may interfere with the protection of the Yes No
well-being of the human subjects?

If you have selected NO for any of the questions 1 to 10 and/or you have selected YES for any of the questions 11 o 20, please provide comments to clarify your choice (use additional pages if necessary).

Signature of the Student Researcher: ________________________________________________________

APPROVED: _______________________________________ Date: ___________________________
Signature of Subject Coordinator

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