Business Research Applications Paper Essay Example | Topics and Well Written Essays - 1500 words

Business Research Applications Paper - Essay Example For example, the current problems in Libya can affect the life of people in United States because of America’s dependence on Libya for oil. In short, business climate is fluctuating rapidly and in order to the changes happening in the business world, proper research is necessary. Apple Inc is one company which successfully used the research process for its growth. Even though Apple struggled in the 80’s and 90’s, they succeeded in introducing some innovative products like ipads, ipods, iphones etc during the beginning of the twenty first century. Apple was able to measure the pulses of the consumers very well because of the proper business research they conducted and the correct interpretation of the data they received from these researches. This paper analyses the importance of business research, taking Apple Inc as the example. Form the illustration given below, it is evident that the normal business research process consist of five stages; collection of data, deriving information from the collected data, analysis of the information, knowledge and decision making. Primary and secondary researches are necessary for the collection of data. (Business research process, 2011) Information can be derived from the primary and secondary data collected. ... is fact better than any other organizations and they conduct regular business researches in order to know more about the changing trends in the market. Apple Inc introduced many of its i-series products such as iPods, iPads, iPhones, iTouch, iTunes, iMac etc at the beginning of 2000 because of their abilities in reading the market trends correctly through their business researches. The introduction of right product at the right time will always guarantee success. In fact Microsoft introduced tablet PC’s much before the introduction of Apple’s iPads. Microsoft introduced tablet PC’s in the 90’s, but failed to make an impression in the market because of the untimely introduction. However, Apple’s iPads succeeded heavily in the market because of its right time of introduction. In 1990’s the technologies were not much developed and the demand for tablet PC’s were less. On the other hand, the technologies developed rapidly during the end of twentieth century and at the beginning of twenty first century and the consumer trends were changed drastically. Apple was able to assess this change correctly through their business research and introduced their tablet PC, iPad at the beginning of 2000. Thus Apple succeeded in the market where Microsoft failed. â€Å"Apple's market capitalization - the sum of its outstanding shares multiplied by its stock price - finished at $222.07 billion, ahead of Microsoft's at $219.18 billion Wednesday, May 26, 2010† (Kim, 2010). In other words, Apple’s better abilities in conducting business research helped them to surpass even Microsoft in market capitalization. Moreover, Apple is currently raked the topmost technological company in the world, again pushing Microsoft behind to the second spot. Advertising is another area in which