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Week 1 Res/351

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Week 1 Current Events in Business Research
The Business Research Process is a process that will benefit a company to its fullest potential. When thinking of this process, one must be open to investigate all aspects surrounding the company in mind. The business research process consists of learning everything there is to learn about the company, its customers, competitors, and the industry in which it evolves. The main goal of this process is learning about products and services being sold, recognizing what type of customer feedback is received, the type of customers being brought in, when and where to distribute, and also price range and promotions.
I am a cosmetologist and this is determined to be a very competitive industry. Our main goal is keeping up with the current trends. In today’s world hairstyles, makeup, and fashion change on a daily basis. One day it’s in and one day its out! We continuously attend hair shows and classes to keep up with the latest styles and products on the market. Clientele is essential when working within this industry. As a company, we also monitor other salons in the area to assure that our prices are competitive. Usually word of mouth is the best promotion in this business but we also run ads in the Sunday paper at times offering deals and sample products. We also keep a variety of products so that our customers have the opportunity to choose the product of choice. We also offer products within the salon for at home management. Our priority is always keeping the customer happy because a happy customer is a guaranteed customer. Conducting business properly ensure stability.
There are several steps to follow in the business research process that will ensure satisfaction. These steps are identifying competitors, studying customers, SWOT analysis, studying the target audience, and applications. The steps can be

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