Knowledge Trans | Language Translation

Business research involves conducting market assessment studies, competitive analysis, supply and demand side analysis, market sizing and growth of the business, identifying industry trends, etc.
It involves the following phases –

Data Collection: It includes conducting general google search, referring to various databases, journals, gathering data through telephonic and face-to-face interviews.
Analysis: It involves analyzing the data gathered in the data collection phase.
Report Writing & presentation

It often refers to either conducting primary or secondary research. In secondary research, the company uses information compiled from various sources which appears applicable to a new or existing product. Primary market research involves quantitative research such as surveys, field tests, interviews or observation, conducted or tailored specifically to that product. Primary research which is also called field research or original research is useful for finding new information and getting customers views on products.

Research can be conducted to optimize advertisements for any medium: radio, television, print (magazine, newspaper or direct mail), outdoor billboard (highway, bus, or train), or Internet.
Media research is a specialized form of marketing research conducted to improve the efficiency of advertising. It may focus on a specific ad or campaign, or may be directed at a more general understanding of how advertising works or how consumers use the information in advertising. It can entail a variety of research approaches, including psychological, sociological, economic, and other perspectives.

Management consulting refers to both the industry of, and the practice of, helping organizations improve their performance, primarily through the analysis of existing business problems and development of plans for improvement.
Organizations hire the services of management consultants for a number of reasons, including gaining external (and presumably objective) advice, access to the consultants' specialized expertise, or simply as extra temporary help during a one-time project.
Consultancies may also provide organizational change management assistance, development of coaching skills, technology implementation, strategy development, or operational improvement services. Management consultants generally bring their own, proprietary methodologies or frameworks to guide the identification of problems, and to serve as the basis for recommendations for more effective or efficient ways of performing business tasks.