Business Research Process Res/351 Essay

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Business Research Process Sean Trowbridge RES/351 January 3, 2012 Business Research Process I’m employed by a company that distributes high end cosmetic brushes to makeup and cosmetology retailers. We distribute a line of brushes that have changed little in the last 40 years. However despite a stabilized product line, our company is involved in a substantial amount of predictive studies in an attempt to stay ahead of trends. As with many industries, the beauty industry is a difficult one to stay current in. There are always new contenders attempting to create and sell the consumers on the latest trend it makeup application. In my company, the process we use in making predictive studies begins with asking a variety of questions, such as “Who will be our target demographic at this time next year?” To answer this we start by looking at all potential customers and start creating questionnaires. Historically the segment that has the most growth are females aged 13-17, followed by females aged 18-25, and thirdly by females aged 26-35. Not only has makeup become more popular with younger girls, but the generations that are consuming makeup have become larger. Questionnaires and in person interviews of members from these three major demographics are a core part our company data, however creating a sample from the youngest demographic is frequently difficult to get, and requires us to make do with a sample that relies on collecting data as a matter of convenience. The data we collect is then put input into Microsoft Access, so that we can organize the data in many different ways depending on what we would like to know about our customers. which allows users from all different departments to query the data in many different ways. There are members of our company at all levels that do predictive work including salespeople, managers and
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