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How To Use Research In Making Business Decisions

2258 words - 9 pages

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 market (Davis, 2001). Other rising competitors are Sony, Microsoft and E-Machines. Dell still has a prominent place in the marketplace, but will need to leverage peripherals to stay ahead of the pack.Products are Dell's forte and are targeted at very specific markets. Their placement is based on their direct sales model and more recently through non-traditional efforts like kiosks. Dell's promotional efforts have been effective through the use of traditional advertising on TV and direct mail, while also maximizing the effectiveness of email and the Dell web site. Price is a key differentiator for Dell and the use of state of the art production facilities has enabled Dell to keep their prices very competitive.Dell has been carried through the wave of technology the last 20 years without really contributing any new technology. There is very little spent on research and development, both viewed as crucial for the livelihood of major tech firms. A recent threat is the emphasis on non-traditional competitors, notably Sony and Microsoft, entering the...

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