Case Analysis - R. Claire Salinas

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Feb 20, 2024

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Week 1 Case Analysis: Jewelry Store Considering a Second Location R. Claire Salinas Online MBA Program, Point University MKTG 515: Business Intelligence Dr. Thomas Javarinis October 29, 2023

Case Analysis Given the scenario where an individual owns a jewelry store and is considering opening a second store, either in the same city or a different state, business research should be conducted. Business research is applying the scientific method in searching for truth about business phenomena. Conducting research in this situation would allow the individual to define business opportunities for their jewelry company, a key activity of business research. A more detailed analysis of how to conclude whether to conduct business research lies within the content of exhibit 1.3, located in the Business Research Methods textbook. This model displays four factors to consider when determining whether to conduct business research: time constraints, availability of data, nature of the decision, and benefits versus costs. In the scenario presented, there is no indicated urgency of opening a second location, meaning that the jewelry store owner has sufficient time available to conduct business research. The data needed to make this decision would include population/demographic information on the two cities as well as a survey or trend analysis of current interest in jewelry for both cities. Given modern-day survey technology and population/demographic information provided by census.gov*, it is feasible to obtain the necessary data to make a decision in this scenario. Deciding where to open a second location is a business-defining decision. It is a high-cost investment and will only pay off if the second location is successful. Because of this, the decision of where to open a second location has considerable strategic importance to this jewelry business. Because this decision could lead to the ultimate success or failure of this jewelry business, the value of the research information gained would exceed the cost. The profitability opportunity of a successful second location would far exceed the cost of research. Because there is sufficient time available, the data is feasible to obtain, the decision is of strategic importance to the company, and the value of the research will ultimately outweigh the costs, business research would be beneficial to the company and should be conducted. *Below is an example of information from census.gov that would aid in this decision.

References Zikmund, W. G. (2012). Business research methods . South-Western. U.S. Census Bureau. (n.d.). 2020 Census Demographic Data Map Viewer . U.S. Census Bureau. Retrieved October 28, 2023, from https://maps.geo.census.gov/ddmv/map.html

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