“Over the past few years, the Employee Credit Union (ECU) has accumulated a large amount of surplus funds, which have been invested in certificates of deposit. It has also experienced a lower loan/share ratio then other credit unions of similar size. Because of these factors, the credit union’s average earnings on its investments have slowly declined and its profit margins have been squeezed” (Portfolio Assessment, 2004).
The market place of a company changes every few years, and therefore, it needs to be researched and analysed (Kotler, 2001). The ECU decided to conduct a research project to determine how the credit union can solve its problem. The aim of this paper is to:
• Evaluate the research objectives.
• Evaluate the research design in light of the stated research objectives.
• Use SPSS to obtain simple frequencies for the answers to each question.
• Use SPSS to perform appropriate cross-tabulations.
• Use SPSS to perform appropriate univariate and bivariate statistical tests after developing hypotheses for these particular tests.
The analysis discovers several weaknesses of the research process used by the credit union. Furthermore, many mistakes are found in the research design. The analysis of the survey identifies the strengths and weaknesses of the credit union, which can partly answer the research objectives. The main strengths of the union are its helpful employees, their ability to treat information confidentially, their prompt processing of loan applications, and the way the credit union is managed and operated. Identified weaknesses are the level of the loan rates, the usefulness of their services, and problems associated with the loan application form.
Table of Contents
1 First Stage of the Research Process
1.1 Problem Definition
1.2 Type of Research
1.3 Research Objectives
2 Research Design
3 Questionnaire Design
3.1 Questionnaire Layout
4 Sampling
5 Fieldwork
6 SPSS Analysis
6.1 Frequencies
6.2 Cross-Tabulations and Chi-Square Test
7 Conclusion
Objectives and Research Themes
The paper aims to evaluate the research process, design, and data analysis of the Employee Credit Union (ECU) to address issues concerning declining investments and low loan/share ratios. The primary focus is on identifying member attitudes toward operations and uncovering reasons why members seek financial services from alternative institutions.
- Evaluation of research objectives and design effectiveness.
- Statistical analysis of survey data using SPSS frequencies.
- Assessment of member satisfaction and service awareness.
- Analysis of bivariate relationships through cross-tabulations and chi-square testing.
- Identification of organizational weaknesses and operational improvement suggestions.
Excerpt from the Book
1.1 Problem Definition
Zikmund (2001) states that “an orderly definition of the research problem lends a sense of direction to the investigation” and “allows the researcher to set proper research objectives”. He applies the word problem to the managerial problem and the information needed to help solve the problem. It is emphasised that the problem definition stage of the research process probably is the most important one, which is often neglected by the researcher (Zikmund, 2001).
For example, Coca-Cola decided to change its Coke formula because its competitor’s “Pepsi Challenge” adverting campaign touted Pepsi’s superior taste. The research carried out by Coca-Cola investigated the question how the consumer reacted to the taste of the reformulated Coke. However, the company ignored the emotional aspects of buying behaviour. The marketing research was too narrow in scope and the problem was inadequately defined. The old Coke formula has been quickly reintroduced as Coca-Cola “classic”. This demonstrates the importance of a proper problem definition (Zikmund, 2001).
According to Zikmund (2001), defining the research problem includes several interrelated steps: 1. Ascertain the decision maker’s objectives: Ideally the management expresses the research goals in measurable terms to the researcher. Unfortunately, this is often not the case. However, both parties need to gain a clear understanding of the objectives. One effective technique is to present to the management possible solutions to a problem in order to clarify misunderstandings.
Summary of Chapters
1 First Stage of the Research Process: This chapter introduces the importance of clear problem formulation and defines the initial stages of a research project, including the establishment of research objectives.
2 Research Design: This section evaluates the master plan for data collection, comparing methods such as surveys, experiments, and observation to determine the most effective approach for the credit union.
3 Questionnaire Design: This chapter analyzes the structure and phrasing of the survey questions, highlighting common pitfalls like leading, ambiguous, or double-barrelled questions.
4 Sampling: This section covers the sampling process, justifying the use of a simple random sample from the credit union population and discussing the potential benefits of stratified sampling.
5 Fieldwork: This chapter discusses the practical aspects of gathering data and the roles of personnel involved, suggesting that fewer people should be involved to minimize errors.
6 SPSS Analysis: This section details the quantitative analysis of the survey, utilizing frequency distributions and chi-square tests to uncover associations between variables.
7 Conclusion: This final chapter synthesizes the research findings, identifying key organizational weaknesses and providing actionable recommendations for the credit union.
Keywords
Marketing Research, Employee Credit Union, Research Design, Problem Definition, SPSS, Frequencies, Chi-Square Test, Survey Analysis, Sampling, Data Collection, Member Attitudes, Loan Applications, Statistical Analysis, Management, Financial Services.
Frequently Asked Questions
What is the primary purpose of this research portfolio?
The portfolio is designed to evaluate the research process conducted by the Employee Credit Union (ECU) to address declining earnings and low loan/share ratios.
What central themes are explored in the study?
Key themes include member attitudes toward management, service awareness, and the reasons why members choose alternative financial institutions for loans.
What is the core research question?
The core inquiry is to determine why members are borrowing money from external sources instead of the credit union and how the union can improve its operations.
Which methodology was used for data collection and analysis?
The study used a mail questionnaire survey for data collection and SPSS for statistical analysis, including frequency counts and chi-square testing.
What is covered in the main body of the work?
The body covers the problem definition, research design, questionnaire structure, sampling procedures, field implementation, and the interpretation of survey results.
Which keywords define the scope of the paper?
Primary keywords include Marketing Research, Employee Credit Union, SPSS, Research Design, and Member Attitudes.
How did the author evaluate the quality of the questionnaire?
The author assessed validity and reliability by identifying redundant, leading, and ambiguous questions, and provided suggestions for a more concise 20-question format.
What does the chi-square analysis reveal about employee courtesy?
The chi-square test suggests a strong association between members perceiving employees as helpful and courteous, confirming positive sentiment toward staff.
- Quote paper
- Volker Schmid (Author), 2005, Research Methods and Data Analysis Portfolio, Munich, GRIN Verlag, https://www.grin.com/document/38124
