This document discusses different types of business research. It defines business research as a process of acquiring detailed information about all areas of a business to maximize sales and profits. There are two main types discussed - descriptive research and exploratory research. Descriptive research describes the characteristics of a population or phenomenon, while exploratory research explores problems that are not clearly defined. The document provides examples and differences between the two types of research.
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1. INTRODUCTION-TO-BUSINESS RESEARCH.pptx
1. K R I S H N A
S D M P G G I R L S
C O L L E G E
M A H I L A A S H R A M
16 Aug 2022
1
BUSINESS RESEARCH
2. Research?
A careful investigation for new facts in any
branch of knowledge
Redman and Mory: Research is a systematic
effort to gain new knowledge.
3. Business Research
3
Business Research is a process of acquiring detailed
information of all the areas of business and using
such information in maximizing sales and profit of
the business.
5. Objectives of Business Research
5
To get familiarity with a phenomenon (situation) or
to achieve new insights into it.
To describe characteristics of a particular situation
or an individual or a group.
To determine frequency with which something
occurs .
To find out a problem areas or a solution to the
problem.
Research objective vary from business to business.
7. Business Research Leads
7
To promote better decision making
Research is the basis of innovation
It helps in either development of new products or
modifying existing product.
It helps understanding competitive environment
It helps in SWOT analysis
It helps in forecasting and formulating marketing
plans
8. Types of Business Research
1 September 2022
8
Descriptive research
Exploratory Research
10. Characteristics of Descriptive Research
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It is conducted to get the facts already being studied.
It is a structured type of research.
It focuses more on “what” of the research than the
“why” of the research subject.
It describes what exists and may creates scope for
new facts and meaning.
It is usually carried out when there is decision
making stage.
11. Examples of Descriptive Research
11
To observe the habits of the customers.
To understand the fashion purchasing trends of the
customers.
To evaluate the morale of the staff.
To understand if its wellness program enhance the
overall health of the employees.
13. Characteristics of Exploratory Research
13
It is conducted to have a better understanding of existing
problem.
It is an unstructured type of research.
It enables a researcher to answer all questions like why,
how and what.
It creates scope for future research.
It is usually carried out when the problem is at its initial
stage.
14. Examples of Exploratory Research
14
To observe the customers by adding new food item
or increasing the verity of juices
what effect does using a digital notebook have on the
attention of the scholars.
To get the customer behavior in fashion trends
when the new prices being offered with discount.
15. Difference between Descriptive and
Exploratory Research
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Basis for Comparison Exploratory Research Descriptive Research
Objective Carried out to find a
problem
Carried out to explain a
situation
Overall design Flexible Rigid
Research process Unstructured Structured
Outcome Generally followed by
further research
Finding can be used as
input for decision
making.
Stage Early stage of decision
making
Later stage of decision
making
