Learning Content

3. Business Research
• Concept of research and research designs
• Quality criteria of business research
• Group work: research questions and research methods in applied business
research

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Business research
Definition
• Process of acquiring detailed information of all the areas of business
• Using such information in maximizing the sales and profit of the business
• Helps companies determine which product/service is most profitable or in demand

"Dieses Foto" von Unbekannter Autor ist lizenziert gemäß CC BY

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Business research
Example
A mobile company wants to launch a new model in the market. But they are not aware
of what are the dimensions of a mobile that are in most demand. Hence, the company
conducts a business research using various methods to gather information and the
same is then evaluated and conclusions are drawn, as to what dimensions are most in-
demand. This will enable the researcher to make wise decisions to position his phone
at the right price in the market and hence acquire a larger market share.

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Business research
Methods

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Business research
Methods

Please go online and research the meaning of the above-listed business research methods.
Present the meaning, the importance, some advantages and disadvantages, and the method
an it’s importance.
Maybe you can also give an example from a company?

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Business research
Methods
Quantitative research methods (Numbers)
• Survey research (online polls,
questionnaires, etc.) to collect data to
understand market and make decisions
• Correlational research to understand
relationship between two entity and their
impact
• Causal-comparative research is based on
comparison
• Experimental research to try prove a theory
• Online research / literature research to
gather lots of information from existing
knowledge
Qualitative research methods (Words)
• Interviews with open-ended questions to
understand opinions and subject
• Focus group to understand opinions of a set
of individuals
• Ethnographic research to gather precise
results by adapting to the natural
environment and observe audience
• Case study to assess customer satisfaction
• Website visitor profiling/ research to collect
direct data from website users
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Business research
Quality criteria
Quantitative research methods (Numbers) Qualitative research methods (Words)

• Validity: A measurement is valid if it actually • Transparency: Your research is transparent

measures what it is supposed to measure if you document all important steps in detail
and thus provides credible results. and make them comprehensible to
outsiders.

• Reliability: Reliability refers to whether your

research produces reliable results when • Intersubjectivity: Research is
conducted repeatedly. intersubjective if you discuss and reflect on
the data you have obtained subjectively.

• Objectivity: Research is objective if there are

no unwanted influences from people • Scope: The scope of your qualitative
involved. research is given if similar results can be
achieved by repeating a similar procedure.

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Business research
Research questions
• Precise and narrow
• Unbiased
• Relevant

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Business research
Research questions
My master’s thesis: Gambling tourism in health destinations – analysis and comparison of
motives of gamblers and spa guests

• What does the heterogeneity of different visitor groups in health destinations mean?
• What are today’s travelers’ motives and responses to casinos in the health destination?
• Did the motives of gamblers and spa guests in health destinations change over time?
• Which role does the casino have in the health destination?
• How is it possible to combine the opposing approaches in an attractive way for the destination
or is it an incompatible approach?

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Business research
Research questions

Group work:
• Choose a topic from tourism (e.g. pandemic and travel)
• Narrow the topic down
• Set a focus
• Formulate 3 research questions that are built up on each other

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Business research
Summary
Advantages Disadvantages
• identify opportunities and threats • high-cost affair
• identify problems and make decisions • based on assumptions
• understand customers better and communicate better • time-consuming
• Risks and uncertainties can be minimized • inaccurate information possible
• Financial outcomes and investments are planned • become obsolete because of the fast-changing
• track competition markets
• enables to make wise decisions
• stay up-to-date with the market and its
• measure reputation

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