Business Research

Paper Summary:

The paper discusses how well-executed business research helps a businessman determine the direction and strategies he can employ to make his idea work. The paper emphasizes that business research is essential in ensuring that products and services do not become obsolete. The paper focuses on market research that helps an industry to cater better to the consumers and ensure that their products will be bought.

From the Paper:

"Everyday, we are bombarded by information about the trends seen in the market, locally and internationally. We are familiar with the competition that exists between multi-billion dollar companies. In the news, we are informed about the gains and losses experienced by fast food restaurants, clothing labels, computer companies, electronics, transportation, the basic utilities such as water and electricity, and even large food companies. There is much buzz about what works and what sells. Our seemingly mundane decisions are influenced by what is popular among the general population, and what we personally prefer. We might not know it, but certainly we cannot deny that our daily lives are influenced by the product of extensive business researches conducted by businessmen and analysts."

Sample of Sources Used:

• IconProcess (208). Artifact: Business Concept. [Online.] Retrieved 11 September 2008 from the Web site: http://www.iconprocess.com/iconProcess/busConcept.php?detail=dbpTemplate#Purpose
• Kenny, J. (2008). How to define a business. [Online.] Retrieved 11 September 2008 from the Web site: http://ezinearticles.com/?How-to-Define-a-Business&id=108146
• Malhotra, Naresha K. (2002), Basic Marketing Research: A Decision-Making Approach, Upper Saddle River, NJ: Prentice Hall.

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