Further, the following purposes justify the use of exploratory research: Diagnosing a Situation: Sometimes, companies have a situation at hand, but do not know how to define it clearly. In contrast, if the survey has provided promising results it will give Exxon Mobile the proper incentive to roll out a customer loyalty program.
In summary, the research methods presented in this paper can provide beneficial results for companies of all sizes and industry backgrounds. Once he is directed to the website, an intercept survey will start noting his intent, and path.
Making the survey simple will allow research data to be gathered quickly and easily Lancioni Once the question is answered, it will allow the company to make better business decisions Baruch Such a research is critical to make wise and informed decisions.
Nowadays, with the advancement in technology, such a research has become even more simple and accessible to everyone. Many errors are likely to occur in the process of business research.
Online research or literature research involves gathering information from existing documents and studies which can be available at Libraries, annual reports, etc. An effective business research question should have the ability set the foundation for future data gathering activities.
Individual biases have the potential to skew the results of a survey and provide an inaccurate answer to the research question.
Research is a relatively expensive process; exploratory research ensures that this process is not initiated without a thorough understanding of the problem.
This tactic will ensure that a high volume of diverse entries will contribute to the survey results.