Essay about Current Events

656 Words Nov 12th, 2014 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 competitors so that a new owner does not price their
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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 objectives. Business research was used in the military but different ways. Is this a header? Or the Introduction to the paragraph? In any event, avoid having one sentence paragraphs Identifying Competitors - The mission of the military when it comes to new soldiers is to attract and retain quality soldiers. For instance, the Army (the branch I was enlisted in) is facing tough competition when trying to maintain or attracting recruits and enlisted personal of all components and ranks. This is due to the low momentum of the

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