Business Research Paper
Facilitator: Jeff Geffert
Week 1 Assignment
Due May 20, 2013
Submitted May 20, 2013
The purpose of business research is to allow a business to set itself apart from its competitors by gathering as much information on the industry that it can and utilizing that data to create unique methodologies and business practices. Researching a business will provide information on things such as what products consumers like or do not like to buy, what the start-up costs will be, and whether any new business opportunity is viable to undertake. Researching also reveals the profitability potential of products and services and how they size up competitively with similar products available in the market. The most successful business in each industry are perfect examples of how to successfully market, advertise, and sell your products so they should always be considered. According to chapter 1 of the textbook, it does not matter whether you are a small mom & pop bakery or a large corporation like Nabisco, business research is equally important to your company. In my personal experience I have found that the company policies and procedures set forth by the upper management will directly reflect how the employees will react to their clients and impact the business. Personal Experience
I have worked for fortune 500 companies such as Verizon, AT&T, and Time Warner in the telecommunications industry and I have learned how each of these companies markets their products to both businesses and consumers. The breakthrough in technology of fiber optic internet and television that became available to consumers in the last ten years was a huge push for all of these companies. There are many different ways the companies got the word out to their customers. The top methods included direct mail, television commercials, email and internet marketing, billboards, radio advertisement, and direct sales...
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