Module - II Research Design RESEARCH PROCESS - STAGES 1) Identifying and Selecting of Research Problem A research problem is a question that a researcher wants to answer or a problem that a researcher wants to solve. Identification or formulation of the research problem is the first and most important step of the research process. It is often said that a well-defined problem is half solved. The precise definition of the problem would help the researcher to collect the data for solving the research problem. RESEARCH PROCESS - STAGES 2) Review of Literature The researcher should undertake an extensive literature review relating to the problem. He/she may consider various publications, such as journals, books, research reports, newspapers, the internet, etc. Such ROL provides good insides into research problems and get familiar with previous research studies undertaken. RESEARCH PROCESS - STAGES 3) Formulation of Hypothesis The hypothesis is an assumption made by the researcher to explain certain facts or provide the basis for further investigation. It states what the researcher thinks the outcome of the study will be. The researcher makes a hypothesis and collects data that either supports the hypothesis or does not support it. The hypothesis may prove to be correct or incorrect. Eg. The researcher studying the declining sales trend may hypothesize that: ❑ Sales are declining because product prices are too high ❑ Sales are declining because middlemen are not getting adequate margin/commission.