RES/351 Business Research
Retail Business Research
In the retail business industry, retailers have to be creative in providing value for its customers. Customer value is a priority and must be implemented at all times when maintaining or running a business, company, and/or organization. Customers like convenience without having to jump through hoops. For example, when opening a new business, or establishing a way to build customer volume, it is necessary to research the areas where a high volume of people do their shopping and/or other activities. Also, it may be a good idea to research, and obtain information on other businesses in the surrounding areas; pertaining to the length of time they’ve been in business. In addition, knowing what types of merchandise sold can also help with determining what type of business to open. After doing some research whether opening or maintaining a business such as retail, it is found that the location is one major asset when conducting a business research. There is also marketing, which means getting the information out about the company and its merchandise. There are many things to research on numerous businesses, but the main thing to focus on is customer service satisfaction. Without customers, there is no business. Searching different types of businesses, company’s, organizations, etc; can provide a wide range of information to help each become more successful. Retailers like Wal-Mart and Target for example, are very successful businesses. In their success, both Wal-Mart and Target had to do their research in finding the best location to open their stores. They also had to find the best products and merchandise that would become top selling items, as well as new market items prior to reaching the shelves. Large retailers like Wal-Mart, Target, Costco, and Sims Club are very wise and creative. They’ve came up with a brilliant idea in researching a...