Scientific methods involve standards and methods for the precise quest for information, including the acknowledgment and plan of an issue, the accumulation of information through perception and exploration, and the detailing and testing of theories (Ford, 2000). Developing new brands that can be competitive on the market is a complex factor that companies find difficult to undertake. Some challenges in developing competitive brands include poor market targeting, poor promotional techniques, and inadequate market information. Scientific methods can be used by a firm to develop strong brands that are superior to those of its competitors.
Some of the key measures that firms should be involved in comprise related research, structure, and formulation of theory and records analysis. After the completion of the market research and analysis of data, the researcher concludes the findings and communicates the findings to the stakeholders who use them for making decisions. If a company finds that its consumers are not using its brand, it should plan to develop a brand that will outsmart other brands on the market. The company should develop a project that is direct to summit customer demands, empathetic to the advertising atmosphere, and customer procuring authority.
The hypothesis that can be used to solve this problem is to establish the relationship between the development of new brands and consumer behavior. This hypothesis tries to explain how the new brands developed can be used to attract consumers’ behavior, which is one of the marketing factors. This hypothesis is associated with various outcomes and is helpful for the research. First, there are individuals among the respondents who will be in full agreement with the hypothesis statement. Some individuals will agree with the statement slightly. The remaining respondents will include individuals who will be neutral, disagree, and strongly disagree with the hypothesis.
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To test the hypothesis, various actions should be put in place. First, there will be an experiment to show how developing a new brand can cause a positive change in consumer behavior, thus affecting competition. Second, there will be an experiment to determine whether the development of new brands will cause a negative change in consumer behavior, which will affect its competitiveness. Finally, to establish whether developing new brands has no impact on consumer behavior. The success of the program can be evaluated by conducting a correlation analysis. Correlation analysis seeks to establish the relationship that exists between two items. In this study, the two items are new brands and consumer behavior. In this case, correlation analysis will be done on the data collected from the research, and a correlation coefficient will be drawn that shows whether or not changes in the brands will result in a change in consumer behavior. A positive correlation coefficient denotes that the study is a success. A negative correlation coefficient result shows that the result is a failure.
A positive strategy is a strategy for testing the hypothesis to seek confirmatory evidence. Two kinds of positive tests can be used: a positive hypothesis test and a positive target test.
The negative hypothesis inspects cases that don’t fulfill the state of the speculation. One technique that has appeared to be dependably successful for presenting the two sorts of theory tests includes requesting that the specialist find two guidelines rather than one. As opposed to scientists utilizing a solitary objective of testing to find a specific target run, this technique gives double objectives of testing to two correlative classes: one classification contains the occurrences that fit the objective manage, and the reciprocal class comprises cases that don’t fit the run the show (Charles M. Wharton, 2017).
The additional step that can be used depending on the result is formulating a negative hypothesis. The negative hypothesis for this research is that there is no relationship between the development of new brands and consumer behavior. In this hypothesis, the action is to find out how the validity of the hypothesis. Once this hypothesis is formulated, data should be collected and correlation analysis carried out to determine the relationship between the variables. If the correlation result fails to show this relationship between the variables, the previous positive hypothesis can be termed as valid.
References
Charles M. Wharton, P. W. (2017). Hypothesis-testing strategies: Why two goals are.
Ford, E. D. (2000). Scientific Method for Ecological Research. Cambridge University Press.
