Research Study



Research Study

Introduction

Business involves a modification in the way of thinking, which is thinking about customer needs and then creating the appropriate products to satisfy them, instead of manufacturing a product first and then attempting to look for customers. It is extremely difficult to get customers to believe that they are being offered the best products for their need. In addition, there are many competitors offering similar products, which reduce the probability that the customer would select a specific organization's product. Thus, the need for strategic marketing, also called marketing strategies, arises. Strategic marketing is essential as it allows a manager to make decisions that prove effective in formulating and implementing business strategies. (Wilson & Gilligan, 2004, pp.1071-82) Business involves a modification in the way of thinking, which is thinking about customer needs and then creating the appropriate products to satisfy them, instead of manufacturing a product first and then attempting to look for customers. It is extremely difficult to get customers to believe that they are being offered the best products for their need. In addition, there are many competitors offering similar products, which reduce the probability that the customer would select a specific organization's product. Thus, the need for strategic business management, also called marketing strategies, arises. Strategic marketing is essential as it allows a manager to make decisions that prove effective in formulating and implementing business strategies. (Wilson & Gilligan, 2004)

Discussion

Business Research Approaches

Business research can be conducted with one of the two research methods: Qualitative Approach or Quantitative Approach. However, a research in business largely depends on qualitative research rather than quantitative one as most of the data being collected is in the form of thoughts, ideas, opinions and attitudes of customers. Apart from being categorized by whether being qualitative of quantitative approaches, all researches can be based on some underlying assumption about what constitutes 'valid' research. All these various other aspects of research classifications will be discussed.

Qualitative Approach

Qualitative research approaches focus on extracting data about how customers understand their experiences and what are customers' suggestions, opinions and perceptions are moulded regarding the issue being researched. Thus, qualitative method of research attempts to gather information that cannot be measured or quantified. Business research would emphasize on this approach, as the research to be conducted requires extensive interaction with customers. The most important information collected would be in the form of customer perceptions, attitudes, suggestions and beliefs. In order to determine whether the strategies implemented are up to the mark or not, customer feedback is immensely important. In fact, customer's perceptions and opinions alone can provide enough feedback to amend, add or disregard a strategy. Qualitative research will gain all data that would be useful in determining the lacking in the strategies of the organization. Apart from that, a similar qualitative research would be conducted after a span of 8 to 10 months to collect similar data for comparison. This would allow the organization to compare the change brought about by the implemented strategies and would enable ...