The paper "Business Research Methods by Donald Cooper" is a wonderful example of a book review on business. The chapter is mainly about the research in business and how relevant they are to business organizations. Business research is conducted for several reasons which are very relevant in the business environment. The most important reason for conducting business research is for the purpose of gathering information on the market environment and the clients. The research enables the company or business enterprise to put in place measures that enable it to prosper. Business research also equips managers with knowledge of consumer priorities.
The research has to be conducted in a credible manner for the purpose of ensuring that the results are accurate. Most companies use surveys as a means of collecting data from consumers. The use of surveys includes using mobile phones or collecting the data directly from customers. The raw data is usually analyzed by experts using various means of analysis. Most of the analysis is however done using mathematical formulas that have been proven to be reliable. According to the chapter, other reasons for conducting business research include testing of new products in the market.
The research enables the company to know whether its new products are being consumed or not. The research will also determine the rate in which the new products are being consumed or how the products are being perceived in the market. In order to ensure adequate distribution of the products in the market, business research is used. The research equips the managers with the knowledge of how and where the products should be distributed. In case the survey indicates that the products are required more in an area as compared to other areas, the managers will be in a position to make informed judgments.
When measuring the effectiveness of advertisements, then business research is very relevant. The research reveals the rate of consumption of the product before and after the advertisement. The data is then used to calculate the efficiency of the advertisement. Business research is also relevant to the study of competition in the market. Through business research, the company will be able to know its competitors and thus enabling it to put in place relevant measures to counter the competition.
Business research is thus quite important and should be well conducted using proper means.
Donald Cooper, Donald R. Cooper & Pamela S. Schindler (2010). Business Research Methods.
McGraw-Hill/Irwin Series in Operations and Decision Sciences. Edition11, McGraw-Hill Companies, Incorporated.