Business Research

Current Business Research Project Paper

Jason Brooks

RES/341

August 30, 2010

Joseph Oloyede

Current Business Research Project Paper

The subjects discussed in this synopsis answer the definition of the business research article reviewed, the article’s research purpose, the business problem investigated, data collection methods used in the research, and the researchers’ conclusions. The article chosen from University of Phoenix Library is entitled “New Research Study Answers the Most Pressing Questions about the Future of Luxury Brands after the Recession.”

Define the Business Research and Purpose

Marketing research is the gathering and analysis of information about the moving goods or services from producer to consumer. Marketing research covers three wide areas: market analysis, which yields information about the marketplace; product research, which yields information about the characteristics and desires for the product; and consumer research, which yields information about the needs and motivations of the consumer (www.allbusiness.com). In this article Unity Marketing found that nearly two-thirds of luxury consumers surveyed said their personal financial situation has declined as a result of the current recession.

Luxury Brands Problems under Investigation

Unity Marketing researchers investigated the measure of how the current recession is affecting the luxury market today, specifically what do luxury brands and retailers need to know about their customers to help them plan for the future after the recession is over. Pam Danziger, president of Unity Marketing, stated “significant growth in the luxury market over the last several years has been a result of people spending their “perceived wealth” as measured by raising the value of their home and gains in their investment portfolios. Their wealth has diminished and they have returned to living off their base salary. Studies have shown that it takes four-to-five times the average income...