Business Research Dissertation Example | Topics and Well Written Essays - 1250 words

Business Research - Dissertation Example Moreover, exploratory research helps to determine effective data collection method, research design and subject selection. Researchers can draw definitive conclusions with extreme caution through this exploratory research. Depending upon the fundamental nature, this exploratory research generally concludes a perceived problem that may not truly exist. This exploratory research generally relies on secondary research methods (Tracy, 2012, p.96). On the other hand, qualitative research is a specific method of enquiry implemented in several academic disciplines. This qualitative research method can be applied in market research and social science field. Qualitative research method can be applied in the research based on the exploratory nature of the research. Body This part of the study will discuss several aspects exploratory research and qualitative research. Exploratory Research Exploratory research highly depends upon available literature review and review of several qualitative appr oaches, such as informal discussion with employees, management, competitors and consumers. Moreover, this exploratory depends upon several formal data collection methods like focus groups, in-depth interviews, pilot studies or case studies and projective method. The results of exploratory research are not generally useful for decision making process but these results can provide major insight in a given circumstance. Exploratory research helps to identify and clarify a problem. Exploratory research allows the researchers to familiarize themselves with the research study or research problem. Moreover, it helps the researchers to generate research hypothesis. Exploratory research is undertaken as the initial and fundamental research approach. Major objective of exploratory research method is to test the hypothesis or concepts before putting them into the marketplace. This research is always considered as the costly endeavour. Consumers are generally provided with either a prototype or a written concept for new, repositioned or revised product or service strategy. Exploratory research considered as the important market research tool. Exploratory research plays an important role in market research. Marketers or researchers do not have any machines to peer inside a particular decision problem. Therefore, they use this exploratory research technique to open up the problem significantly. This exploratory research has single broad purpose. It clarifies the research question quite significantly that helps the researchers to guide entire project. In addition, the concept of exploratory research suggests that it leads to more formal and larger research project. This exploratory research helps the researchers to draw an effective conclusion of a study. Exploratory research techniques generally provide insights and information to the researchers (Churchill and Lacobucci, 2009, p.61). Moreover, it helps the researchers to prepare for several larger research efforts, such as experiments and surveys. Researchers need to consider broadly speaking and reflective data to conduct this exploratory research. Exploratory research helps the researchers to find the possible cause and outcome of the problem statements or research problems. Extensive amount of exploratory re