RESEARCH METHODOLOGY

4.1 RESEARCH METHODOLOGY

Research Methodology is a way to systematically solve the research problem. The Research Methodology included the various methods and techniques for conducting a Research. Marketing Research is the systematic design, collection, analysis and reporting of data and finding relevant solution to a specific marketing situation or problem. D. Slesinger and M. Stephenson in the encyclopedia of Social Sciences define Research as the manipulation of things, concepts or symbols for the purpose of generalizing to extend, correct or verify knowledge, whether that knowledge aids in construction of theory or in the practice of an art.

Research is, thus, an original contribution to the existing stock of knowledge making for its advancement. The purpose of Research was to discover answers to the Questions through the application of scientific procedures. This project had a specified framework for collecting data in an effective manner. Such framework is called Research Design. The research process that follows by us was consisted of following steps: 4.1.1 RESEARCH DESIGNThe formidable problem that follows the task of defining the research problem is the preparation of the design of the design of the research project, known as the research design.A research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure. In fact, the research design is the conceptual structure within which research is conducted; it constitutes the blueprint for the collection, measurement and analysis of data.

In the present study Descriptive Research is made.

Descriptive Research: A type of conclusive research which has as its major objective the description of something-usually market characteristics or functions. 4.2 SAMPLING DESIGN

Sampling can be defined as the section of some part of an aggregate or totality on the basis of which judgement or an inference about aggregate or totality was made. The sampling design helps in decision making in the following areas:4.2.1 Universe of the Study-The universe comprises the geographical area that will be covered while conducting the research. Universe of this project will be all the senior citizens who are eligible to avail reverse mortgage loan in Jalandhar.4.2.2 Sample Frame- Sample frame referred from where the questionnaire was filled. Sample frame consisted of senior citizen in Jalandhar.4.2.3 Sample Unit- Sampling unit was the basic unit containing the elements of the universe to be sampled. The sampling unit of study were senior citizens who are eligible to avail reverse mortgage loan in Jalandhar.

4.2.4 Sample Size- Sample size is the number of elements to be included in a study. 100 respondents were selected for the present study.

4.2.5 Sampling Techniques- The sampling techniques used was convenience sampling technique.4.3 DATA COLLECTION AND ANALYSIS4.3.1 Methods of Data Collection- Research work was Conclusion Oriented and Descriptive in nature. Information was collected from both Primary and Secondary data.

Secondary Sources- Secondary data was those which had already been collected by someone else which already had been passed through the statistical process. Secondary data was collected through magazines, websites, newspapers and journals. Primary Sources- Primary data was those, which was collected fresh and for the first time and thus happen to be original in character. Primary data was collected by conducting surveys through questionnaire, which include both open- ended and close-ended questions and personal interview.

4.3.2 Tools of Analysis and Presentation:To analyze the data obtained with the help of questionnaire, following tools were used.

Weighted Average Score: This tool was used to calculate highest and lowest rank.

Tables: This was the tool to present the data in tabular form.

Percentage, Bar Graphs and Pie Charts: These tools were used for analysis of data.

4.4 LIMITATIONS OF THE STUDY

The limitations of the study were as follows:

Due to shortage of time available at disposal, we were not able to collect as much information as needed for the study.

There may be untrue information provided by the respondents for the study.

Biasness in the responses of respondents may be there.

The sample may not be a true representative, as due to location factor, the respondents may not be representative of the whole universe.

As there is always a cost factor involved in every research, so it was not possible to include large universe.

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