FEDERAL UNIVERSITY DUTSIN-MA, KATSINA STATE

DEPARTMENT OF BUSINESS MANAGEMENT

FACULTY OF MANAGEMENT SCIENCE

COURSE TITLE: RESEARCH METHOD

COURSE CODE: BSM 332

NAME: PAUL BAWA

MAT NO: MAN/2021/20694

QUESTIONS
1a. Define business research
1b. Differentiate between qualitative research and quantitative research.

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Introduction

Research is a process of systematic inquiry that entails collection of data; documentation of critical
information; and analysis and interpretation of that data/information, in accordance with suitable
methodologies set by specific professional fields and academic disciplines.

What is business research?

Business research is a type of research process where the main goal is to help a company thrive
and collect data about the target audience, potential business plans, and marketing strategies. The
data collection about possible risks and investment opportunities helps business owners make
informed decisions about future plans.

The fields that can use business research include marketing, business, education, and social
science. But of course, they are not the only ones that can benefit from business research. It is a
helpful research type for all business needs. Now, let us see how we can further categorize this
into methods and types of business research.

Methods and types of business research

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 Business research methods and types

In business research methodology, there are two main types. These are quantitative research and
qualitative research. In the simplest terms, quantitative research is about collecting numerical and
factual data, whereas qualitative research is about collecting data by using open-ended questions.
These two methods can be divided into more specific parts. Let us get started with quantitative
research methods.

A. Quantitative Research Methods

Quantitative research methods give the researchers factual and numerical evidence that can be
effectively used in decision-making processes. There are numerous ways to collect quantitative
data, and it is also possible to use more than one method to prove the credibility of the information.
Let us start with the first one:

1. Survey research

Surveys are a great way to collect information from a targeted group, no matter how big or small.
They can be done in the format of an online survey, phone survey or questionnaire. Surveys are

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usually close-ended or multiple-choice questions that are easy to group and analyze. The business
doing the research can collect valuable information directly from its customers.

2. Correlational research

Correlational research focuses on the discovery of whether two different entities influence each
other in any way. The main focus of this research method is not to make decisions. But rather, they
can use the findings to explore further using other research methods.

3. Causal-comparative research

Causal-comparative research is similar to correlational research in that both of them compare two
different elements and how they affect each other. But the main difference is that fact the focus of
this research method is to draw conclusions on the cause-and-effect relationship of said entities.

4. Experimental research

Experimental research has a broad spectrum when it comes to what is taken as ‘experimental’.
Basically, it is when businesses want to test a specific theory about the quality of a product or
service. There are many methods that can be used, and it is decided by the researcher according to
the theory that will be tested.

5. Literature research

Literature research is a very effective and economical research method to use. It is about using
offline and online existing literature and going through them to analyze the data. It is mostly used
in sales about consumer behaviors.

B. Qualitative Research Methods

Qualitative research is not about numbers like quantitative research. Instead, it is about emotions,
opinions, and approaches. The target audience can be presented with a topic through open-ended
questions. There is more than one method to go with, and it is even possible to use multiple
methods at once. Let us see qualitative research methods:

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1. Interviews

The interview method is mostly done on a smaller participant group about a specific subject. They
consist of open-ended questions and can be in a structured or unstructured format. Interviews
are one-on-one questions asked to the target audience to gain insight into the problem.

2. Focus Groups

A focus group is a pre-determined group of individuals who are chosen to participate in a study to
answer specific questions. The researchers present them with a topic and encourage discussions
with open-ended questions. Then, the findings are generalized to make decisions.

3. Ethnographic Research

Ethnographic research is similar to conceptual research, and its main focus is to understand the
culture and people of the target audience by using observation. This method is done by
observing the people in their natural environment and seeing how they interact with one another
and their surroundings.

4. Case Study

Businesses generally use a case study method to showcase to potential consumers how their
product or service helped a certain individual or a group. It is a good way to attract new
customers. This method helps highlight the company’s skill sets and assets.

5. Website visitor research

This research method is relatively newer than others. Its main focus is to collect feedback from
individuals who use the company website and ask them about their opinions. A business can use
this method by presenting a customer with a quick survey after their purchase on the website.
Afterward, the company can improve user satisfaction by fixing existing problems.

Importance of business research

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 The reasons for conducting business research

Businesses grow by knowing their target market, potential customers, and competitors. And this
is only possible by conducting market research to help make informed business decisions. The
main goal of business research is to help stakeholders of the company make planned and informed
decisions using the facts in the business research report. However, there are other reasons why
business research is important. These are:

 Gathering information on customers: A business research report provides data on consumers’

behavioral changes, their needs, preferences, and expectations. The managers and stakeholders
can make informed decisions with this knowledge.

 Performance evaluation: Research allows businesses to evaluate their success against industry
standards and other competitors. This helps keep track while deciding how to differentiate
themselves from others.

 Market expansion: Business research topics include areas that were not explored before.
Therefore, when the business wants to expand to new markets, the research provides information
on the market’s dynamics and potential risks and profits.

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 Efficiency and cost-reduction: The data collected by business research helps identify any
obstacles to productivity and cost excessiveness. That way, a more cost-effective and efficient
approach can be taken.

Business research examples

Business research helps business managers make smart plans for the company and its future. They
can make informed decisions about new marketing strategies, building new products or service
branches, or improving customer satisfaction.

Business research example 1

Imagine a company that has a clothing store website wants to know if there is anything that makes
shopping on their website difficult for customers. They can show a pop-up customer satisfaction
survey and ask them if they can find what they are looking for easily and how the website visiting
experience was. Then, they can collect customer feedback and see how they can improve their
website to enhance customer satisfaction levels.

Reference

Bhat, A. (2024, April 10). Qualitative research methods: types, analysis + examples.

QuestionPro. https://www.questionpro.com/blog/qualitative-research-methods/