business research

Category: Education & Learning 4 weeks ago

 Business research is defined as the systematic and objective process of generating information for aid in making of business decision. it include financial,operational and marketing research.it is neither intuitive nor haphazardly gathered.Literally research mean search again and it must be objective. It should be detached and impersonal rather than biased. facilities in managerial decision process for all the aspects of a business.

business research is of to types-

Basic research 

Applied research

Basic research is pure research,attempt to expand the limits of knowledge. it is not directly involved in the solution to a progmatic problem. Basic research is conducted to verify the acceptability of a given theory or know more about a certain concept.

Applied research conducted when a decision must be made about a specific real life problem. They want to answer a question or to solve a present social and economic problem.

Business research is conducted for number of reasons including gathering crucial information on consumer and business clients and also for testing new products in the potential sucess of new products.companies must know what types of product and services customer want before they market them. It used to ensure the adequate distribution of their products and help the business to determine when,where they need to increase their product distribution and also in measuring advertising effectiveness.

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