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Importance of Business Research

How would you define business research? What is the purpose of business research? How has the Internet changed the quality and quantity of research?

Should an organization do research for all problems confronting the business? Why or why not? When is it appropriate to use exploratory research? Can decision-making be accomplished by using only descriptive research? Why or why not?

What is the reliability of a measurement? What is the validity of a measurement? Can a measurement be valid if it is not reliable? Explain.

What are the four data scales? Give an example of each

What is an "operational definition"?

What role do data scales play in developing an operational definition?

Solution Preview

The response addresses the queries posted in 1651 words with references.
//Before writing about the Impact of Internet on Business Research, it is essential to know about the 'Business Research'. One should know about the purpose of business research, which further will assist analyzing the impact of internet on business research in an effective manner.//

Business Research

Business research is a primary step of the marketing process and it comprises an analysis of market demand for a business's existing and potential product. This research identifies appropriate distribution methods for the company's products. Business research includes a number of activities that are developed to link marketers with the consumers with the help of information collection and evaluation.

Purpose of Business Research

Business research offers businesses with significant information about the customers, their opponents and the opportunities & threats of the overall industry. An efficient and effective business research is generally used to recognize various marketing problems and opportunities related with the business. Information gathered from this research helps to develop and assess the effectiveness of various business marketing strategies.

Small business possessors have limited financial resources and they also have a significant need for sufficient, exact and recent information which can help them in making business decisions. Effective business research can assist businessmen in evaluating the viability of a start-up project before investing a huge amount of time and money. This will help them in making an effective marketing program for their goods and services. If a business enterprise wants to adopt various marketing strategies like market segmentation and product differentiation, then it is essential to perform an effective business research (Trochim, 2001).

//Above is the discussion of the Business Research and its purpose. Now, as per the directions, explanation about the Impact of Internet on Business Research and Justification of Business Research, is to be discussed.//

Impact of Internet on Business Research

The development of Internet has provided added impetus to the activity of business research. Problems which could not be solved earlier due to the sheer amount of computations can now be tackled with the aid of Internet in an accurate and rapid manner. By performing calculations almost at the speed of light, Internet has become one of the most useful tools in the modern times. It had increased the quality of research as all individuals like to complete their work with the help of computers.

Justification of Business Research

Yes, an organization should do research for all the problems ...

Solution Summary

The response addresses the queries posted in 1651 words with references.

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