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Current Events Essay

651 words - 3 pages

Current Events in Business Research
Jessica Barbera
RES 351
October 6, 2014
Edoardo Naggiar

Current Events in Business Research
In order for companies to set themselves apart from their competitors, it is vital
to gather as much information on the industry that is being considered.
Researching a business helps to provide information on such things like what
consumers like and do not like to purchase, what it will cost to start up, whether
or not the idea for a new business is viable based upon facts and not on emotion.
Researching a business will also show if the new business idea has potential to be
profitable or not and also provide essential information about ...view middle of the document...

The top
methods included direct mail, television commercials, email and internet
marketing, billboards, radio advertisement, and direct sales.

The business research process begins with a collection of data and then processed
into information that can be used to define more details on where, when, how,
and what type of business is needed for that type of buyer. Research regarding
consumer demographics is a focal point that has an impact involving business
location and may affect potential revenue. Another important aspect of research
would entail research regarding competitors pricing and promotion.
The business research process is about learning everything there is to know about the organization, the consumers, competitors and the trade. The main points are trying to figure what products or services to offer, what consumers are likely to buy them, the region as to where to sell or buy them and lastly the pricing. By following the important steps of business research, a company can achieve these...

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