Customer Retention Research

Introduction1

Approach to Research Analysis1

Research Method Strategy3

Mixing the Data3

Data collection methods4

Ethnographic Research4

Focus Groups5

Interviews5

Type(s) of questions6

Search Strategies8

Gantt chart9

Ethical issues10

Customer Retention Research

Introduction

The purpose of this report is to identify and describe the research design that will be followed in conducting research on the sales and consumer behavior of a store. The store has to deal with the issue of decreasing customer retention rate. The report aims to identify the factors that are responsible for the sales decline and provides recommendations that can help store management in recovering the sales and also improve the customer retention rate.

Approach to Research Analysis

There are two possibilities for conducting research. These are qualitative and quantitative approach. According to the type of research to be conducted, quantitative analysis suits the design better. Using this approach, data measurement and analysis is easy to interpret. The results are presented in detailed format considering the relationship between independent and dependent variables.

In carrying out market research for measuring retention, customer satisfaction and customer loyalty are independent variables. Dependent variables are income, brand awareness, demographics, customer preferences and many more. Thus more objective findings are generated (Swait and Adamowicz 2001, pp. 143). Quantitative research also tests the hypothesis using descriptive and inferential statistics. In case of the market research for brand loyalty of store product, the hypothesis will be to test if the store items attract the consumers to maintain the customer retention. The quantitative approach is better than the qualitative approach as it presents and interprets data in numerical format. However quantitative research requires extensive evidence collection and correct responses to questions. The research is highly influenced by the way consumers respond. The major advantage of quantitative research is that customer responses can be measured accurately (Strebel et.al 2004, pp. 99).

There are several advantages for implementing qualitative research. This approach to research is helpful in identifying intangible factors that quantitative research cannot identify. These include social, ethnic, gender and economic norms. Thus there is need of qualitative research also. This type of research is also flexible and helps in double checking numeric data (Crosby 2003, pp, 19). Thus for the research under discussion, variation is measured by quantitative approach that predicts consumer behavior towards store products. It will also describe other characteristics related to marketing and sales that can improve customer retention. The qualitative research will help in identifying what areas research should include. Thus this type of research does not follow any strict design plan (Swait and Adamowicz 2001, pp. 150). As a researcher, the person will have the freedom to let the topics unfold naturally. It will also help in studying the consumer behavior in a more detailed way which can identify further areas of improvement besides consumer retention recommendations. It will also help in assessing the social effects on the individuals.

The research becomes of more value when combined with statistics generated from quantitative research to present wider interpretation of research findings. Thus for research on customer loyalty towards the store products, mixed approach to quantitative and qualitative ...