ss refers to the systematic investigation of a subject to gain knowledge and understanding. There are different types of business research, including exploratory research, descriptive research, causal research, experimental research, and survey research.
Research is the systematic investigation of a subject or topic to gain knowledge and understanding. In the context of business, research is conducted to gather information and insights that can be used to make informed decisions and solve problems.
There are several types of business research:
- Exploratory Research: This type of research is conducted when there is limited knowledge or understanding about a particular topic or problem. It helps in exploring new ideas and generating hypotheses. For example, a company may conduct exploratory research to understand consumer preferences for a potential new product.
- Descriptive Research: This type of research is used to describe the characteristics and behaviors of a particular population or phenomenon. It aims to provide a detailed and accurate account of the subject under study. For example, a company may conduct descriptive research to understand the demographics and purchasing behavior of its target market.
- Causal Research: This type of research is aimed at determining cause-and-effect relationships between variables. It involves manipulating one variable and observing the effects on another variable. For example, a company may conduct causal research to determine the impact of a price increase on consumer demand.
- Experimental Research: This type of research involves the manipulation of variables in a controlled environment to measure their impact. It aims to establish cause-and-effect relationships and test hypotheses. For example, a company may conduct experimental research to test the effectiveness of different advertising strategies.
- Survey Research: This type of research involves collecting data through surveys or questionnaires. It is used to gather information about opinions, attitudes, and behaviors of a specific group. For example, a company may conduct survey research to understand customer satisfaction levels.