Two Types Of Business Research: The Nature Of Research Methodology
Chapter # 3
Research Methodology
1. Nature of business research
1.1 Deductive vs Inductive
There are two types of research approaches which can be used to conduct the research, it can be a deduction approach or deduction approach (Bryman & Bell, 2011). In induction approach the research develop a new theory from the empirical investigation. In inductive process, researchers find a research problem that should be explored after that they do the observation and from the empirical data they gathered themselves draw the conclusion regarding the research problem. In contrast of the induction approach, in deductive research researchers developed the hypotheses o the bases of existing theories and then develop a strategy to test the hypothesis.
In this study, deductive research approach has been used because the researcher has developed the hypothesis on the bases of the exiting theories. All the factors are tested in the new context which is in the luxury industry more specifically in clothing and cosmetics products.
1.2 Quantitative vs qualitative
Deductive approach and inductive approach both are related either to qualitative or qualitative studies. Inductive research is normally related to the qualitative study because qualitative study is not as formal, controlled and structured (Bryman & Bell, 2011). Deductive approach is suitable for the quantitative study because the theories are already developed but the new hypothesis shall be tested. In quantitative research method
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