A creative process and a systematic work which is undertaken in order to increase the knowledge which can be but not limited to society culture human or any specific domain is called research. Research is a process which is used to establish facts or confirm them and the results of the work which has been done previously or address existing problems.
They can also be supportive theorems or new theorems or even new theories. It could also be an expansion of a work which has been done in the past also can be used to develop further knowledge on a particular topic address the topic in a new way using modern technology and modern examples.
Sometimes it is only done to increase the knowledge about a particular topic in a particular domain or industry. There are many types of research that are used in many industries write from finding a new you fact to reach performing the old fact with the help of new technology.
Different methods can be used to conduct the research depending on the nature of the research and the approach that has been taken to address the research. The different types of research such as humanities, scientific, social, marketing, artistic, practitioner, business, technological, etc.
Have you ever wondered how research shapes today’s industries?
Quick Statistics: According to a report by IBISWorld, the global market for research and development (R&D) activities is valued at approximately $2.3 trillion as of 2023. This extensive investment is a testament to the critical role research plays across various sectors, from technology and health to agriculture and finance (Source: IBISWorld, 2023).
Inspirational Quotes from Marketing Leaders: Renowned marketing strategist Philip Kotler once said, “The best advertising is done by satisfied customers.” This underscores the importance of research in understanding customer needs and preferences, enabling companies to promote their products effectively by aligning them with customer satisfaction (Source: Marketing Quotes Archive, 2023).
Because research has wide applications in every domain it finds applications in almost every industry.
Following are a few of the applications of research in various sectors
Table of Contents
Applications of Research explained with 3 Examples
1) Medicine Industry
Research is widely used in the medical industry and various pharmaceuticals in order to conduct testing and find new medicines to cure different diseases. It is because of research that pharmaceuticals are able to synthesize new molecules and adequate diseases like Mumps, Measles, Polio, etc.
The scientists study the existing disease and the existing available options to cure the disease. Then they apply different molecules and test its efficacy against the disease. This could take years or decades to address it effectively and eradicate the disease.
Then the research is conducted on animals and after successful research on animals, it is moved to human trials. Thus medicinal industry has wide applications of research and it would not be an exaggeration if it is said that the entire medical industry runs on research only.
2) Medicinal Tech
Medicines are one part of the pharmaceutical industry and the second part which forms the major jump in terms of finance is the medical technologies. The disease can be readily treated with the help of medicines but to find the disease or to detect it, there is a requirement of high-end technology medicinal products.
These products are technology-based and have been evolving from time to time. Detecting diseases can be cumbersome with old instruments and it is essential that the diseases detected in the first stage in order to start its treatment.
This is the reason why medical technology which is a combination of pharmaceutical knowledge along with engineering knowledge is helpful here. Medical technology has wide applications in almost every part of human life.
Small equipment such as thermometer which is used to detect the temperature of human body or sphygmomanometer which is used to detect blood pressure two charged instruments such as CT scanner our brain scan or X-ray machine all of these technology products require research. It is due to research that scientists are able to develop newer electronic devices which help to detect the disease early.
Hansa research is very crucial and has wide applications in medical technology.
3) Business research
Business is the domain which has found enormous applications for research in the last few decades. Different streams of businesses have found a wide variety of applications of research in order to attract customers to build better brands and make better products.
Following are few of the applications in business research
A) Product research
Developing a new product requires a huge amount of research on the market. The companies should study the existing products and their market along with the customer demands and needs.
The company should also study what is missing in the market and what is it that customers require in order to formulate a better product and deliver excellent results in the market. This is my product research takes a lot of time.
Companies employ third parties to conduct the research of existing products and their businesses so that they can launch their product in a similar way but which would be attractive to the customers. Disrupting an existing base is one of the strategy to launch a product and the research is conducted accordingly but a second strategy would involve creating and enter the new base and not competing in the existing market.
This would again involve research in order to find out that missing link which can be monetized by the organizations. Typing the existing customer base is one of the strategies while developing an entirely new customer base and the market is a different strategy and both of them require equally good research.
For example, Apple when launched new iPhone was successfully able to create a new customer base for smartphones from an existing customer base their by refusing to compete in the existing market.
B) Advertising research
It is a form of marketing research which is very specialized and narrow in nature which is conducted in order to improve the advertising efficiency and to reach customers in a better way. In advertising research there is a concept called pre-testing in which the advertisement is analyzed by the selected audience and their feedback is taken into consideration and the ads are edited or changed accordingly.
The aim of this research is to understand the brand impact along with the product impact and the advertising effect on the minds of the audience. Their attention and emotions are taken into consideration and the feedback is given accordingly to improve the advertisement is necessary.
C) Case studies
Case studies are undertaken by a few businesses who desire to have a comprehensive understanding and a detailed perspective about the customer or a company or a product or service for a particular case which interests him or her.
Case studies help businesses by providing and detailed assessment about a particular topic. They also help to understand the attitudes of the customer and their opinion regarding a product of a company in a much more detailed and comprehensive manner.
D) Surveys
Surveys are a representation of research findings are their questions. Service help up the researcher to understand and compare the feedback of various customers for participants that are participated in the survey. The analysis can be put together to study the topic of the customer in a much more detailed way.
It also helps the researcher to provide insights regarding new concepts for customer opinions which he would be unaware of. If something works positively about a product it is the service that helps to understand what exactly is working for the product and what exactly is working against the product.
E) Focus groups
Focus groups involve research of various methods. The primary reason to undertake focus group research is to get an idea and honest feedback from the customers for a specific brand product or service.
The name of the focus group is to provide a sample group and sample feedback from a small amount of audience so that the results can be extra positive and applied to the large audience and actual market. The feedback that is obtained from the focus group is taken into consideration and necessary changes are made to the product accordingly.
F) Competition assessment
Research is undertaken in business to study the competition. This helps the companies to identify the shortcomings in their own product and modify revamp them in accordance to the market or customer.
Studying the competition also helps the companies to evolve themselves and bring themselves at par to the competition. They can benchmark themselves against competitive products and revise the offerings accordingly.
Competition assessment also helps the companies to understand the market share of every company in relation to the competition.
4) Environment research
The applications of research in the environment has gained newfound popularity by almost every government in every country. Various NGOs along with environment rehabilitation organizations help to understand the current scenario of the environment and predict the upcoming possible calamities to the people and make changes accordingly.
Environment research is very important to study climate change and its effects on our environment. It is also essential to warn people about possible natural calamities due to the use of harmful products and stop their usage before it’s too late.
Liked this post? Check out the complete series on Market research
