Objectives and Types of Business Researches

1. INTRODUCTION TO
BUSINESS RESEARCH

2. MEANING :
Business research is a process of acquiring detailed
information of all the areas of business and using such
information in maximizing the sales and profit of
the business. Such a study helps companies determine
which product/service is most profitable or in
demand.

3. OBJECTIVES OF
BUSINESS RESEARCH
1. TO GET AN ANSWER TO A QUESTION.
2. TO GET SOLUTION TO A PROBLEM.
3. TO VALIDATE THE EXISTING KNOWLEDGE.
4. TO IMPROVE QUALITY OF HUMAN LIFE BY
DISCOVERING NEW PRODUCTS AND IDEAS.
5. TO EXPLORE POTENTIAL BUSINESS
OPPORTUNITIES.

4. 6. TO UNDERSTAND THE REASON BEHIND FAILURE OF
ANY PRODUCT OR A PROJECT.
7. TO REVEAL UNDISCOVERED MYSTERIES OF THE
NATURE.
8. TO DEVELOP THEORIES , PHILOSOPHIES AND
PRINCIPLES IN THE SOCIETY.
9. TO UNDERSTAND SOCIAL PROBLEMS AND TO FIND OUT
SOLUTIONS TO THEM.
10. TO HELP IN NATIONAL PLANNING PROCESS OF AN
ECONOMY.
……and MANY MORE.

5. TYPES OF
BUSINESS RESEARCH

6. BASIC RESEARCH or FUNDAMENTAL
RESEARCH
EX - POST - FACTO RESEARCH
SOCIAL RESEARCH
FIELD STUDIES
CASE STUDY RESEARCH

7. CASUAL RESEARCH (experimental
research)
DESCRIPTIVE RESEARCH
ACTION RESEARCH
EXPLORATORY RESEARCH
MARKET RESEARCH