Business Research

Amity First Semester

 Need for Business Research
• Business research is required to expand the business. For
operation, planning business house requires research result
to take decision
• There three important areas requiring business research
result.
• 1.Market Research: Deals with market place, business policy,
and marketing strategy
• 2. Operation research: Research used for forecasting, demand
assessment, production, optimization, investment pattern
• 3. Motivational research: Deals with consumer behavior,
employees, organization, retailers
 DIMENSIONS OF Business Research

Motivational
research
Consumer
Market research Marketing Research behavior
Market place, Employees
Business policy, Organization
Marketing retailers
strategy

Operation research
Forecasting,
Demand,
Production
Optimization
Investment pattern
 Types of Business Research
TYPES

Applied research
Basic research
1.Evaluating impact of training of
1. Understanding consumer
employees
buying process
2.Consumer response to direct
2. Consumer learning process
marketing
Role of Business research in decision making

• 1. Identification of problems and

opportunities
• 2. Prioritization of action plan
• 3. Taking resolution
• 4. Implementing course of action
Factors affecting Business research

Time Resources

Factors

Nature of Information Cost vrs benefit

 Ethics in business Research

• Stakeholders
• 1. Respondents
• 2.Researchers
• 3. Clients
 I.Respondents
• 1. Right to benefit
• A. Benefits
• B.Deception
• C. Information consent
• D. Debriefing respondents
• E. Right to privacy
 III.Reaseachers
• 1. Right to protection against client tactics
• 2. Right to safety
• 3. Right to ethical behavior4. Mis
interpretation of result
• 5.Abuse of respondents
Marketing Intelligence and Market Research

• Marketing Intelligence: Is an on-going process

of continuously collecting information about
industry 0n many dimensions leading to all
about industry or company
• Marketing Research: A search for answer to
problems related to company or industry
 Difference between M.I and M.R.
• Marketing Intelligence Marketing Research

• 1. On-going Process 1. Project based

• 2. Usually done in house 2. Mostly out sourced
• 3. Not meant for immediate action 3.Action oriented
• 4. General purpose 4.Specific purpose
• 5.Focus on competition 5.Focus on xconsumer
 II. Clients
• 1. Right to confidentiality
• 2. Right to quality research
• 3.Client ethics
• 4.Open relation with research suppliers
• 5.Privacy