Business Research

Topics: Decision making, Management, Marketing Pages: 2 (404 words) Published: April 1, 2013
“Business research is a systematic inquiry that provides information to guide managerial decisions. More specifically, it is a process of planning, acquiring, analyzing, and disseminating relevant data, information, and insights to decision makers in ways that mobilize the organization to take appropriate actions that, in turn, maximize performance”. (Cooper & Schindler, , 2011). One of the most important aspects of the any business nature is business research, businesses primary target is use research to set themselves apart from their competitions. Business research gives the owners of the business very important and critical information about customers buying habit, specific demand for certain product or services in the different times and market. Business research gives the owners ability to determent if their unique idea for the business has the potential to support a solid and profitable business or could be simply use to improve the business by gathering information about the market and needs for product or services. “One of the other important aspects of the business research is to overcome the existing and forth coming problematic business situations related to any filed in business in a business organization with providing learning and guidance to managers to help them in taking some business decisions” ("Define The Business Research And Its Purpose?",, 2011). Organizations use research to apply in business activity to improve the quality of the product or services that they provide to client and to able to target the right market. Right market could be very important for the business to stay in good shape and be profitable for its shareholders. Market research is used to identify potential market, the needs of the specific market and how those needs can be delivered to the client, the packaging of the products pricing and making sure stay in right track comparing to the competitors...
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