Understanding the needs of your customers

Companies can use the turn down in the economy to make their sales opperations not only less expensive but more effective. It is crucial to determine where cuts will hurt customer perception and adversely affect their buying behavior. It is important to understand the needs of your customers. Tthe economic value those needs represent require an analysis of more than gross margins. Now is the time to complete research on your customer buying behavior.

Understanding the value of business research:

The prime managerial value of business research is that it reduces uncertainty by providing information that improved the decision-making process. The decision-making process associated with the development and implementation of strategy involves four interrelated storages:

1. Identify problems or opportunities.
2. Diagnosing and assessing problems or opportunities.
3. Selecting and implementing a course of action.
4. Evaluating the course of action.


Business research supplies mangers with pertinent information that plays an important role by reducing the uncertainty in each of these stages. After an organization recognizes a problem or identifies a potential opportunity, an important aspect of research is the provision of diagnostic information that clarifies the situation. Determination for the need for research enters on time constraints, availability of data, nature of decision, and the value of the research information in relation to the cost.

Major topics for business reach centers around the following key areas:

* General Business Conditions

* Financial and Accounting

* Management and Organizational Behavior

* Sales and Marketing

* Information Systems

* Corporate Responsibility


Basically, research improves the quality of business decision. As business becomes increasingly global, it is important to understand the nature of foreign markets and determine whether you will require customized business strategies for global markets. Good research provides your organization with solid data that allows you to seize the opportunity.