Business Decision Making Essay Example | Topics and Well Written Essays - 2500 words

Business Decision Making - Essay Example The purpose of the market research is normally to choose the right customers for the business. This is to ensure that the business meets the needs of the customers and there is no wastage of resources in marketing to people for whom the business is targeted. Choosing the people to be included in the survey refers to defining the population for the research. Broadly, for any research it is essential that the targeted segments who use the products and services and are concerned with the company in some way. Thus it is essential to rightly define the population as it would allow the marketing efforts to be more effective and would also led to a gain results from the survey and any money that is spent on the business. The next section allows for a clearer understanding of why the defining of population is essential while undertaking a research. There are a number of aspects of defining the population which will be clearly understood by these examples. In short, aspects like the importanc e in terms of the marketing efforts, also to gain reliable results which can form a strong basis for the company. (i) A survey on driving: While conducting a research on driving, it would be unnecessary to interview people who do not drive or even do not have a driving license. In a case like this, if a company surveys interviews and conducts a survey of people who do not know how to drive, or people who do not have a car, or even interviewing minors, the solutions to the result will be unreliable. This is mainly because while conducting a research it is essential to rightly choose the people who are related to the research. Hence the defined market will be individuals who are above the age for obtaining a driving license, people who know how to drive and also who either have a car or have access to a car. These groups of people will form the right target for the research, and will provide reliable answers for the research. (ii) A survey on attitudes to smoking at the work place: