Methods of Business Research Essay - 1010 Words

Methods of Business Research According to the American Marketing Association, marketing research is the systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services. Marketing research is not a perfect science. It deals with people and their constantly changing feelings and behaviors, which are influenced by countless subjective factors. To conduct marketing research you must gather facts and opinions in an orderly, objective way to find out what people want to buy, not just what you want to sell them. It is impossible to sell products or services that customers do not want. Learning what customers want, and how to present it attractively, drives the need for marketing†¦show more content†¦Research aids the decision-making process by providing timely and accurate information, which helps the management to identify more efficient, less risky and more profitable alternatives. There is one complexity however, that the usefulness of research hinges on the ability of the researchers to understand the full details of the decision situation. Interest in scientific decision-making has been fostered by the increased need of managers for more and better information and the availability of improved techniques to meet this need. Additionally, these trends have as a result led to complex business organizations in a highly dynamic market where competition is vigorous, expansions leads to more complexity due to dynamism, increased risk rates, and a better informed public sensitive to its power. Overall, business research contributes to more effective decisions in all functional areas and has emerged as a specialty in marketing and operations research. Lets take the example of the different functions of a particular company and the relevance of research to the company’s success and growth. In the context of finance, with the help of research, a company can set effective and flexible budgets, manage its finances in an improved manner and have a secure financial future. In terms of production, how much to produce, how much is required, the new techniques and improved methods of production that reduce costs are the different types ofShow MoreRelatedBusiness Research Methods1575 Words   |  7 PagesBusiness Research Methods Ââ€" BU2S01 2006/7 Academic Season Assignment 1 Cut off date: Friday, 15th December 2006 You are required to evaluate the in terms of purposes, audiences and general strengths and weaknesses. The essay will account for 40% of the overall mark. Indicative word count: 1500 words. Note that you will need to submit your coursework to the Business School reception by 12pm (noon). Research Ââ€" an investigation involving the process of enquiry and discoveryRead MoreBusiness Research Methods1137 Words   |  5 PagesBusiness Research Methods Define the distinctions between primary, secondary, and tertiary sources in a secondary search A primary source is one that is original. An example of a primary source is the recently published results of a new study. Primary sources are the work of the only the author. When using a primary source, it is usually contemporary with the research being examined. A primary source is without interpretation. Examples of secondary sources would include newspaper articles, newscastsRead MoreBusiness Research Methods2735 Words   |  11 PagesBUSINESS RESEARCH METHODS Subject: Common problems, issues and constraints faced by business researchers during the Research Process Introduction: Business research involves the systematic and objective process of gathering data and transforming it into useful information. 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This essay provides the definition, advantages, disadvantages/limitations for each of the six methods. Moreover, five published articles related to case study method and two published articles related to each of the other five methods were foundRead MoreBusiness Research Methods -Starbucks2508 Words   |  11 Pagesre-evaluate its business strategies often leading to the closure of many of its stores in many recently expanded areas. This business problem and optional proposal is designed to address the issues Starbucks is facing as a result of the increased competition and market saturation in the coffee industry. Using statistics to remedy the issue, Team C will develop a hypothesis to study using an appropriate sample pool as well as primary and secondary data sources. The outcome of the research will resultRead MoreBusiness Research Method - Volkswagen.Doc2236 Words   |  9 PagesI. Rational II. Situational Analysis III. Theoretical background IV. Conceptual Model V. Research Design VI. Sources I. Rational: According to James R. Healey (2011), reporter for USA Today, customers have lost confidence in Volkswagen’s quality. Volkswagen has been subjected to a real loss in the perception of its customers regarding its cars quality. This situation results mainly from a quality problem. In fact, according to Marty Padgett (May 14, 2007), for the website  www.thecarconnectionRead MoreBusiness Research Method - Volkswagen.Doc2251 Words   |  10 PagesI. Rational II. Situational Analysis III. Theoretical background IV. Conceptual Model V. Research Design VI. Sources I. Rational: According to James R. Healey (2011), reporter for USA Today, customers have lost confidence in Volkswagen’s quality. Volkswagen has been subjected to a real loss in the perception of its customers regarding its cars quality. This situation results mainly from a quality problem. In fact, according to Marty Padgett (May 14, 2007), for the website  www.thecarconnectionRead MoreBusiness Research Methods and Tools Essay997 Words   |  4 PagesAssignment One BUS642 Business Research Methods and Tools August 27, 2012 What is business research? Why should there be any question about the definition of research? â€Å"Business research is a process of planning, acquiring, analyzing, and disseminating relevant data, information, and insights†¦in ways that mobilize the organization to take appropriate actions that in turn, maximize performance.† (Cooper, amp; Schindler, 2011, p.4) Research is a planned and systematic process of inquiry and