Quistionaaire For Business World Magazine

MRIS ASSIGNMENT

Submitted by: Mona Parvaresh II PGDBA, HR-Marketing

What is discriminate analysis? What are its uses?

DISCRIMINANT ANALYSIS When the data are non-metric, i.e. not measurable on quantitative scales of numbers, it is not possible to determine the quantitative relationship between variables. In such cases, since correlation and regression techniques cannot be applied, the researcher has to use other techniques such as discriminant analysis. A discriminant analysis enables the researcher to classify persons or objects into two or more categories For example, consumers may be classified as heavy and light users. With the help of such a technique, it is possible to predict the categories or classes which are mutually exclusive in which individuals are likely to be included. In many cases, the classification will be dichotomous such as users and non- users, high and low, and so on. In discriminant analysis, a scoring system is used on the basis of which an individual or object is assigned a score. This in turn forms the basis for classifying an individual in the most likely class or category. Suppose an individual is 25 years of age, earns an annual income of RS. 60000 and has undergone formal education for a period of 17 years. Each of these three variables is given a weight, indicating its relative importance. Symbolically Y = b1 (25) +b2 (60000) +b3 (17) Where is a dependent variable, say, in this case, credit score or rating. A certain limit is fixed of the value of Y below which all values will be classified I group I and all the others in group. The values of b1, b2, b3, indicate the importance numerical value of Y can be transformed into the probability of the individual being creditworthy.

Uses of discriminant analysis: Discriminant analysis has been increasingly used by marketing researchers in recent years. To mention a few major problems where discriminant analysis has been used are: Determining early adopters of fashion, identifying new product buyers, determining brand loyalty among customers, assigning the relationship between demographic factors and the choice of radio stations.

Case Study 34 Business magazines The figures given below relate to three business magazines. These are from Indian Readership Survey Round 2, 2005.

Table Business today

Business India

Business World

All India

754

571

374

Urban India

685

495

332

Top 8 Metros

409

276

197

As these figures have merged in the latest IRS (2005), Business World would like to collect information directly from its readers. Its objective is obvious, viz. to popularize BW so that the numbers of readers increase. This will be reflected in higher sales of BW. To carry out this objective, it wants to develop a suitable instrument to collect the data. In order to carry this out, it must first decide as to what type of information id to be sought from the respondents. Further, it should be very comprehensive and relevant to its objective.

Question Specify the information that needs to be collected. Include the suggested information in the form of a suitable questionnaire. Should the data be confined to Business World or the scope of the survey should be extended to cover the other two magazines?

Ans: As mentioned above the main objective of Business World is to popularize its magazine. This will be reflected in higher sales of Business World. In order to carry out this objective, it has to collect suitable and relevant data or information from its readers. Readers play a significant role here, as they are the one who have a great impact on the sales of magazines. The following information has to be collected: a)

The reasons behind them prefer Business World.

b) What would be the reason behind for using other magazines. c)

Would they like any changes to be done in the magazine, and what would be those changes.

d) The language used in the magazine, is it clear and understood by everyone, e) Are the readers satisfied with the content of magazines or they want something more. f) Any improvements and necessary modifications needed for the magazine. g) Should they come up with different magazines for different customer segment or different age groups.

Questionnaire: 1.

What was your source of knowledge about “Business World”? a) T.V b) Radio c) Newspaper d) Reference

2. Which magazine you prefer the most, rate it on a scale of 1-10? a) Business World b) Business Today c) Business India d) Others 3. Would you like to bring any specific changes in the Business World? a) Yes

b) NO

4. What would be those changes, please mention? --------------------------------5. Are you satisfied with the content in the magazine? a) Agree b) Disagree

6. What are the reasons behind you preferring Business World over other magazines? -------------------------

7. Do you subscribe any other Business Magazine? a) Yes

b) NO

8. Do you buy a Business World Magazine from a magazine store or you have a yearly subscription? a) Yes

b) NO

9. Are you satisfied with the font and font size used around the Magazine? a) Yes

b) NO

10. According to you, does Business world cover news across all Industry verticals? a) Yes

b) NO

The data should be confined to Business World, as in the case it is clearly given that Business World would like to collect information directly from its readers. Indian Readership Survey has collected the necessary information required and there would be no point in doing the survey for other magazines. Conclusion would be that the scope of the survey is limited to the Business World and not to other magazines.