1. What is business research?
Business research is a process of acquiring detailed information from all
areas of the business. To maximize the organization's sales and benefits.
This study helps companies determine which products and services are
most profitable or most in demand.
In simple words, it can be stated as the acquisition of information or
knowledge for professional or commercial purposes to determine the
opportunities and goals of a business. See also: Staff turnover. What are
the causes and how to reduce them?
Business search can be used for anything. In general, when people talk
about the term. This means asking questions to find out how money can be
spent to increase sales.
Profits or market share. This research is critical to making wise and
informed decisions.
For example:
A mobile phone company wants to launch a new model on the market. But
they are not aware of the dimensions of a cell phone that is most in
demand.
Therefore, the company conducts a business investigation using various
data collection methods. And it is evaluated and conclusions are drawn, in
terms of the most demanded dimensions.
Which will allow the researcher to make the right decisions to position their
actions. Phone at the right price in the market and therefore acquire a
larger market share.
2. Business research methodologies
Business search is part of the business intelligence process. It is usually
done to determine whether a company can be successful in a new region.
Understand your competitors or simply select a marketing approach for a
product. This can be done using qualitative or quantitative research
methods.
research methods
quantitative
The quantitative research method is one that deals with numbers. It is a
systematic empirical investigation using statistical, mathematical, or
computational techniques. Typically, these methods start with data
collection and then move on to statistical analysis using various methods.