Research Methods Business Students Harlow -Myassignmengthelp.Com

Question: Discuss About The Research Methods Business Students Harlow? Answer: Introduction Research is very important for any business, without conducting appropriate research no company can launch their business and run it successfully. Analyzing the market before launching any product or service in required to understand whether the particular product or the service will create demand among the customers or not (Saunders, Lewis and Thornhill 2012). A company or an individual businessperson having a unique idea has to conduct market research to find out the potential of that idea in the market. Research will also help in finding the gaps in the idea and will help in improving the same. Another important reason to conduct research is to understand the customers, their requirements and decisions, what are the factors that influence them and their behavior toward the products or services; it will also help in finding out the organizations and the individuals who influence the market trends. Competitors are another important parameter to consider while having a business (Sekaran and Bougie 2016). The economic shifts and the demographics of a particular market also determine the direction of the business. Thus, it can be said that research is the most important aspect to consider while launching a business plan or a new idea in a business. IBM, the American based technology conducts basic research on their products and their consumer markets as they have huge resources engaged to conduct proper market research, by doing so they ensure that their products and services do not fail. IKEA uses applied research techniques to improve their own business and they try to find out the solutions to their immediate problems through applied research. Reference List: Saunders, M.N.K., Lewis, P. and Thornhill, A. 2012. Research Methods for Business Students (6th Ed). Harlow: Pearson. Sekaran, U. and Bougie, R., 2016.Research methods for business: A skill building approach. John Wiley Sons.