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Unit 8 Reflection

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MGMT2063 - Research Methods for Business

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MGMT2063 - Research Methods for Business

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Unit 7 Reflection

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My understanding of Unit 1 is that it is important for businesses to do research in order that they may be able to identify their potential customers, determine and/or understand the needs and wants of their existing customers as well as help them the understand the reasons why customers make the choices they do. In conducting research, businesses are able to solve some of, if not all their existing problems. There are many reasons why businesses conduct research, and there are three main types of business research used by companies. These are: exploratory, descriptive and casual.