QNT/561 Applied Business Research and Statistics
Business Research Methods
As the holiday season nears each year there is great debate regarding when the shopping period known as Black Friday should begin. Black Friday gained its name and popularity as it was said to indicate the point at which retailers began to turn a profit or are “in the black” (About.com, 2012). This year brought debate about stores interrupting a traditional family day to open their doors at different times throughout Thanksgiving Day. Team B will review the data available from Kohl’s, a retailer known for being a “family oriented” business. Under pressure from competitors Kohl’s announced they would open at midnight Thursday versus four a.m. as in past years (Examiner.com, 2012). The research question Team B will answer is “How much of an increase in sales does Thanksgiving night sales help the store's revenues in comparison to early morning Black Friday? The type of research that will be performed to decide whether or not Kohl’s will realize an increase in revenue by opening earlier for Black Friday would be casual research. Casual research looks to decide whether or not different variables affect each other and what the outcomes of these variables will have on the overall outcome of this concept. If Kohl’s were to open earlier data that would need to be collected would be all data from previous years such as overall revenue and also a breakdown of each hour that the store is open on Black Friday, by comparing this data to the test period of opening earlier the company can see if the concept should be implemented company wide. The data will be easy to analyze by comparing the data with the variables and ultimately determine whether the company will be more profitable from opening up earlier on Black Friday.
Sample Kohl’s Design
The following is the Kohl’s survey designed to...