By Kay Miranda, eHow Contributor
I want to do this! What's This?
[pic]Business research functions to study the internal and external factors that affect profitability and market share for a company. There are several methods used in business research that helps executives to focus the energy of developers, production staff and distribution forces.
1. Industry data and competitor analysis is one strong method used in business research to determine if the products and services of one company will penetrate a market. This method uses external data from sources, such as Dun & Bradstreet, and competitor information sources to compare against its own set of products.
2. Case studies are comprehensive portrayal of how a product or service fulfills one client's needs through that client's experiences. This method reviews the strengths and weaknesses of the product or service through the course of use by a client.
3. Focus groups are designed to get targeted consumers to provide honest feedback and suggestions on a product or service. Groups are generally hired by a third party to give potential customers' the opportunity to express how the product does or does not meet their needs and desires.
4. An interview often follows the actual consumer's experience of the product. Consumers would opt in to answer a series of questions that express their level of satisfaction.
5. Those who interact with the customer base can be trained to obtain valuable information by listening and interacting with clients and consumers. This is an effective method of business research if personnel are trained properly to understand what customers are saying and properly relay that to management.
Questionnaires and Questioning
6. Whether a consumer (or potential consumer) is being questioned via oral or written questionnaires, it is... [continues]
Cite This Essay
(2010, 10). Type of Business Research Method. StudyMode.com. Retrieved 10, 2010, from http://www.studymode.com/essays/Type-Of-Business-Research-Method-435659.html
"Type of Business Research Method" StudyMode.com. 10 2010. 10 2010 <http://www.studymode.com/essays/Type-Of-Business-Research-Method-435659.html>.
"Type of Business Research Method." StudyMode.com. 10, 2010. Accessed 10, 2010. http://www.studymode.com/essays/Type-Of-Business-Research-Method-435659.html.