BUSI600 - Discussion Board 8
A problem facing shoe store managers is that many shoes eventually must be sold at markdown prices. This prompts us to conduct a mail survey of shoe store managers in which we ask, What methods have you found most successful for reducing the problem of high markdowns? We are interested in extracting as much information as possible from these answers to better understand the full range of strategies that store managers use. Establish what you think are category sets to code 500 responses similar to the 14 given here. Try to develop an integrated set of categories that reflects your theory of markdown management. After developing the set, use it to code the 14 responses.
One of the primary reasons for the use of open-ended questions is because of the lack of information and the absence of a hypothesis which does not allow for the preparation of “response categories in advance” (Cooper & Schindler, 2014, p.382). Cooper and Schindler (2014), also site the reasons why open-ended responses are used. These include to measure behavior, to determine how important or unimportant something is, and to “encourage natural modes of expression” (p. 382).
According to Cooper and Schindler (2014), coding responses to questions using set categories must contain a number of elements. Coding comprises of assigning certain numbers or symbols so that responses to questions may be grouped into smaller, manageable categories.
For the cases noted in this question, there are a number of categories that may be formulated. For this purpose, the non-categorical variable may be titled TMM, for theory of markdown management. As it appears, the responses provided by the shoe managers can be collected and placed in different categories. For the sake of the fourteen responses, the following categories can be used: BP for buying practices, SP, for selling practices, LS, for lacks strategy, and AS for another...