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Current Business Research Project

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Submitted By FallonRose
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Current Business Research Project
Sharron Jones
University of Phoenix
Res/341
Jim Triplett
June 13, 2011

Current Business Research Project
This paper is a synopsis of a research study in price knowledge measurement scales used in the food and clothing retail industry. This paper will define and identify the business research, purpose of the study, problems under investigation, methods of data collection, and the ending result. The article this synopsis is based on is “On the Validity of Price Knowledge Measurements via self-assessment scales: two studies in retail” (Eberhardt, Kenning, & Schneider, 2009, p. 1).
Business research is defined “as a systematic and organized effort to investigate a specific problem encountered in a work setting that needs a solution” (Sekaran, 2003, p. 5). The business research used in respect to price knowledge measurement includes addressing self-assessment versus percentage absolute deviation (PAD), and the retail branch of food versus clothes.
The problem under investigation is determining the validity of scales used to measure consumer price knowledge used in marketing to influence market price and profit (Eberhardt et al., 2009, p. 1). Previous research is outdated and does not consider important factors such as brand power, or demographics, and was performed from the viewpoint of a researcher and not the consumer (Eberhardt et al., 2009, p. 2).
The researchers performed separate studies in food and clothing retail in Germany. To test the comparison shopping scale of Petrevu and Ratchford of checking price tags, searching for in-store promotions, and testing the grocery market knowledge the seven point Likert scale was used (Eberhardt et al., 2009, p. 4-6). In the food retailing, study 20 products were used along with three interviewees and 300 random customers who had not begun shopping. Each consumer was given

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