Business Research - Case Study Example

BUSINESS RESEARCH al Affiliation) INTRODUCTION Decisions related to the market strategy and other factors related to marketing highly depend on the marketing research. This helps reduce the cases of miss conceptions, errors, and uncertainty during the decision making process. Joe Brown has made the best decision as this process will help him answer his hey research questions. In the process, Joe will also gain more knowledge about the market. DELIVERABLESAn outside researcher needs to produce the following deliverables in order to help Joe make the right decision.

The researcher needs to come up with a data summary that will make sure that Joe gets responses to all of the research questions. The second deliverable is data discussion where the outside researcher will work through the data with Joe. This is to provide the initial analysis of the research findings and also aims at instigating debate on the result and get input from Joe on areas where he feels that more analysis would uncover new insight. The final deliverable expected from the outside researcher is a short report that indicates the key findings of the research.

STAGES OF A BUSINESS RESEARCH PROCESSIn order for Joe to conduct a successful market research, he needs to cover the stages of a business research process.The first stage involves defining the research purpose. This is usually developed as a result of recognizing and understanding a problem in a market (Zikmund, 2012). A problem comes as a result of realizing the gap between the expected and the reality, or a difference between objectives and results achieved. The purpose of a research is usually related to the analysis of the business problem, opportunities available, and other factors that can affect the business.

In this case, the purpose of the research is to find out the best market to start a new coffee shop. The second stage is coming up with the research objective. This is looking at a specific statement about required information. This breaks down the research problem into a more specific and understandable manner. A research objective has three main parts that include the research question. Research question is the information needed according to the purpose. In this case, the research question include1.

What markets in the United States hold the most promise for a new coffee shop?2. What type of location is best for a coffee shop?3. What is it that makes a coffee shop popular?4. What coffee do Americans prefer?5. How many shops are there in United States?The second part of a research objective is coming up with the hypotheses which are the possible outcomes of the research. In this case, the hypothesis can include;1. New York City holds the most promise for a new coffee shop.2. The best location for a coffee shop is where there is high demand like a business center.3. The quality of coffee in a particular coffee shop makes the shop popular.4. Americans prefer Espresso and Latte.

The final part of the research objective is coming up with the scope or limitations of the research. This makes sure that the research is well focused so that a meaningful and well targeted research is conducted. Some of the limitations expected by Joe can include time limitation. The third step involves estimating the value of the research information. This analyzes if the research is worth and evaluates the amount of money that can be spent in conducting the research. Information from this research involves the investment decision that Joe wants to make, this means that the information id of significant value.

The forth step developing a research design which is the overall framework of the research. This describes the crucial details of the procedure and approaches that have been selected in order to conduct a research. Joe can do this by developing primary and secondary data analysis method like designing questionnaire. The fifth step is the data collection which involves collecting data from respondents. This can be through phone conversations, surveys, by post, and through face to face interviews.

Being a veteran market researcher, Joe is well trained to collect data and there will be a reduction in chances of him making errors during the process. The sixth step is analyzing the data collected either manually or by using computer based software. The best software to be used by Joe includes the SPSS or MS excel software. These can also help him to determine the accuracy and validity of data collected. The final step involves reporting the results and presentation of the outcome of the research, which needs to relate specifically to the research questions.

This will help Joe make the right decision relating to the best market choice for his coffee shop. BibliographyZikmund, W, &. Babin, B. (2012). Essentials of Marketing Research. Cungage Learning.