Business Research

In: Business and Management

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Business Research

Business Research
While working in the janitorial services industry, the business research process played a vital role in the company’s success. This process entailed learning everything about a company’s product or services, customers, competitors, and the industry.
The first step of the business research process is to identify competitors. Information is garnered concerning what services and products were offered and at what prices. Other information that is usually obtained is a competitor’s market sales, the number of people that are employed by the company, and it’s key strengths and weaknesses. While in the janitorial services industry, I looked up several other companies and what they offered. Comparisons were made between several companies offering similar services.
The next step in the business research process is to explore potential customers and clientele. A target audience is studied to see which customers are more likely to purchase the services that are being offered. It is important, in any industry, to figure out what the customer will want and need. If a customer’s needs are not met, they will usually go to a competitor. To ensure the success of the janitorial services company I was employed with, surveys were sent out to inquire about customer satisfaction and to determine what features and prices are best for the products and services being offered.
The third step in doing business research is looking into the company itself. It’s strengths and weaknesses are analyzed in order to identify its opportunities for improvement. While researching the company I was employed with, several opportunities were recognized to better the company as a whole.
In following the steps of business research, the janitorial company I worked for identified competitors, products and services, and potential customers and clientele. These steps…...

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