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Business Research Essay

786 words - 4 pages

Current Events in Business Research

Current Events in Business Research

The term of business research is considered a form of practical studies that a company can use to obtain important data to analyze in order to create better ideas and decisions for the company. The research can include different forms of data which includes the feedback of consumers, product research, financial data, and competitive analysis. The various levels of management which uses the business research gain the ability to have a better understanding of the company. Also, they gain a better understanding of their position in their particular market, and how to stay competitive and ...view middle of the document...

The purpose of the exploratory research is also better to help the researcher understand the problems. Through the conduction of the exploratory research, the researching business has to be willing to make changes in his or her direction as a result of any new data and insights gathered from the study. The study also used qualitative research which was used because a complete understanding of the perception of the consumers in relation to visual merchandising.

How the research was solved?

The researched was solved through the use of focus groups that communicated different attributes such as how the displays were built, color, brightness, and if the displays should be logical and realistic. There was also a determination about how the displays are placed and if the displays complement the space of the retail stores. It was clear that the findings showed that the displays should provide significant context and cater to the needs of the consumers.

There was also a conclusion that showed that the retail company is staying faithful to the image if the brand and through changing displays to remain current with seasons and trends. Furthermore, the research in relation to solving the problems within chosen functional area also shows that the company should move forward in an alternate route in a way to acquire the best results.

Potential Applications

There are a number of potential applications which can be found in using business research within the field of retail. Some of the...

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