How to use Research in Making Business Decisions

Essay by Hokie95University, Master'sA+, March 2006

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The purpose of this paper is to provide an example of an organization that is faced with making a business decision, and the expected benefits of utilizing sound business research methods. The discussion will examine Dell, Inc., the world's largest direct-order computer systems companies; priding itself in being the most profitable in the industry and most recently reported revenues exceeding 41.4 billion dollars (Davis, 2001). Despite this success, there is room for improvement, and real threats to Dell's dominance. The basis of this paper outlines the choice of research design, sample design, and data collection that will be used in conducting the business research. These studies assist organizations in developing marketing strategies to address new target audiences, research new product lines, and how to maximize revenue in a competitive marketplace.

Business research is loosely defined as the processes involved assisting in making sound business decisions. Some of the studies involved in this process include: descriptive, explanatory, and predictive studies.

For this investigation, the theory of "descriptive studies" was employed. This form of study attempts to define and answer specific research questions in order to focus its area of investigation, and clarify the objectives. Some of the research questions/objectives used in this study include:

* Who is the target segment we are attempting to reach?

* What new products/services are of interest to the target segment?

* How can we maximize our profits within these efforts?

Dell has developed their consumer and business markets and continues to see sales growth in these markets. Within these markets they have been able to develop segments and market effectively to them. They are also making steady progress into the educational market. Dell's primary competitor in the PC and peripheral market is Hewlett-Packard; HP #1 in the peripheral market and #2 in the PC...