Answer to Question #265147 in Management for Kajal

Question

A major bank in the country wants to launch a new investment scheme. However, they 

are not sure whether it will be a success of failure among the consumers. To arrive at a 

conclusion, they may outsource the research activities to a well-known research firm in 

the city. The bank has asked the firm to submit a research strategy by the end of the 

coming week so that the bank can decide if it would be feasible for them to move further. 

Answer the following questions:

What is the purpose of having a research strategy? Discuss the various research strategies 

that you know about.

Answer 1

Research strategy is a plan that researchers use to conduct research; it helps researchers choose the appropriate data collection and analysis methods and provide helpful information into the research topic. Some of the research strategies include qualitative interviews, case studies, and quantitative survey