Business Research Individual Work 1 Week 3 Essay

Business Research Individual Work 1 Week 3 - Essay Example In order to establish such strategies, the company can carry out research on the economic environment of the emerging nations (Apple Inc. SWOT Analysis, 2014). For example, Asian emerging economies such as India may form a lucrative market for Apple products. However, a rigorous research is needed to identify the factors defining the business market in such economies. Business research can solve Apple’s problem of venturing into emerging nations as it has the capacity to provide specific information regarding the emerging markets. For example, research can provide relevant information on the pricing strategies that Apple should rely on if it is to penetrate such markets. Moreover, research will help the Apple Company identify potential barriers that it may face as it penetrates the new markets and give it an advantage to develop strategies for addressing the challenges it may face (Zikmund, 2013). A research proposal has several components which are considered as important. The first component is the statement of the problem whereby the researcher describes the context of the research topic and describes the research question that will be addressed. The second component involves a review of the available literature. In developing a literature review, the researcher considers both relevant and recent sources related to the research topic. The third component is the statement of the hypothesis. Evidently, each research project has a set of hypotheses that it seeks to either accept or reject depending on the findings of the research (Zikmund, 2013). The fourth component is a description of the methodology to be used in the research. This involves presenting details of the sample size, the proposed sampling technique, and the instruments to be used in the research. Under methodology, the researcher also describes the research design in details and presents