variable
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AMMAR KHALID
What is variable
A variable in business research is a characteristic
that can change. It can be anything that you are
trying to measure, such as customer satisfaction,
employee turnover, or sales.
Variables are essential for business research
because they allow researchers to study and
understand complex phenomena.
examples
Here are some other examples of variables in
business research:
Quantitative variable:
Customer satisfaction scores
Employee turnover rates
Market share
Qualitative variable:
Employee engagement
Brand image
Product quality
Types of variable
Here are some types:
Independent variable
Dependent variable
Moderator variable
Mediator variable
Independent variable
It is a variable that stands alone and isn't
changed by the other variables you are trying to
measure
Examples:
someone's age might be an independent variable.
another example of business researcher who
want to study the effect of different product price
on customer demand. In this case the
independent variable would be the product price
and dependent variable would be customer
demand e.g number of unit sold.
Dependent variable
It is something that depends on other factors.
For example
a test score could be a dependent variable
because it could change depending on several
factors such as how much you studied, how much
sleep you got the night before you took the test
Moderator variable
A moderator variable in business research
method is a variable that affects the strength or
direction of the relationship between two other
variables.
For example:
Imagine you are trying to figure out how much
water a plant needs to grow. You might think that
the more water you give the plant, the taller it
will grow. However, this is not always the case. If
you give the plant too much water, it will drown.
In this example, the amount of water you give the
plant is the independent variable and the height
of the plant is the dependent variable.
Mediator variable
A mediator variable in business research method
is a variable that explains how or why an
independent variable affects a dependent
variable.
For example:
Mediator variables can also be used to identify
new opportunities for business growth. For
example, if a business knows that the effect of
their advertising spending on sales is mediated
by brand awareness, they can develop advertising
campaigns that are designed to increase brand
awareness
What is theoretical framework
A theoretical framework is a conceptual structure
that organizes and explains phenomena. It is a
set of concepts, definitions, and relationships that
provide a foundation for research. Theoretical
frameworks are important because they help
researchers to understand and interpret their
data.
For example
Here is an example of a theoretical framework for
a business research study:
Research question:
What is the relationship between customer
satisfaction and customer loyalty?
Independent variable:
Customer satisfaction
Dependent variable:
Customer loyalty
cont
Theoretical framework:
Customer satisfaction is expected to have a
positive effect on customer loyalty. This is
because satisfied customers are more likely to
repurchase products or services from a company
and to recommend the company to others.
cont
relationship between customer satisfaction and
customer loyalty include:
The quality of the product or service
The price of the product or service
The level of competition in the market
The customer's experience with the company
The customer's perceived value of the product or
service
cont
The theoretical frame work also describes the
percentage of customer satisfaction with the
product and the percentage of customer loyalty
to the brand.
cont
Hypothesis of customer satisfaction
and loyalty:
Customer satisfaction is a positive predictor of
customer loyalty.
This hypothesis means that researchers expect to
find a positive relationship between customer
satisfaction and customer loyalty. In other words,
they expect to find that customers who are more
satisfied with a product or service are more likely
to be loyal to that company and continue to do
business with them.
Some examples
Here are some examples of how businesses can
improve customer satisfaction:
Offer high-quality products and services
Provide excellent customer service
Make it easy for customers to do business with
you
Value your customers' feedback and act on it