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Business Research Process

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The Business Research Process

James Mathias

RES351

03/10/2014
Dr. Michael Gemignani
The Business Research Process

Business research in the Air Conditioning field is multi-faceted and extremely helpful in building a successful sales and service team. You have to be able to properly identify your competitors in your market. Companies need to take time and invest in knowing your customer base. Discover your strengths and weaknesses and focus on those elements and market them properly. Constant research and development of strategies that are as dynamic as the technology that moves us is key in building a great A/C company.
Why Research the Competition Most people look at a competitor in the market as a bad thing. This is not always the case, with the right research it can be a great selling tool and even an ally in aiding in the sustainability of business practices. Competition is actually a good thing in the Air Conditioning world. We use the information to help target the right kind of products and services for the right time of year. For example, in 2006 the new construction industry was good downhill in sales. This decline in the market was responsible for many Contractors having to close or change the way they do business. The company that I was working for at the time, Corman and Sons Inc., concentrated on the new construction industry. The owner and I did a little market research with the Act Corporation and discovered that the retail contractors that were still doing well had changed gears and embraced the retail change out market. Do to homeowners investing in their current homes the change-out market was rapidly increasing. The research showed that homes built 10 years ago were now becoming due to have new systems installed. Corman and Sons also discovered that the average profit margin was 30 percent as opposed to our current...

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