Business Decision Making Essay Example | Topics and Well Written Essays - 3000 words - 3

Business Decision Making - Essay Example The move can result in either being positive or negative depending on the approach used in the new market segments. There are 3 groups that are likely to benefit from this study. The first lot consists of the company employees who may gain skills in pitching new customers in the new market niche. Identifying customer trend may help them to take the necessary actions to coup with challenges that may arise in the event of initiating business activities in the new markets. Through sharing this knowledge, the employees can act as machines to aid management in implementing appropriate marketing strategies. The second group is the employers who automatically gain insight as to how new market can actually be managed having consumer preference data. Finally, business analysts can use these findings as valuable guide whenever advising Appalachian PLC. Through analysts, the firm can be in a position to determine whether they will have a significant profit income or not. The study was limited to the real income and age of clients in China from a merchandise firm in the UK; the interest was on the type of prices that can be charged and the levels of income in China. For the purpose of this study, what constitute pricing is determined by the employer. This study was restricted to customers based in China. This sample included a range of customers evenly distributed within China Republic. Barden, a freelance writer specializing in new business ventures and a former managing editor of Commerce and Accounting, stated the importance of through market research and gave specific examples of new markets that have successfully been reached. The Company that was used in undertaking the research activity currently makes huge profits for every furniture sale by offering services such as customized furniture according to customer need, amount of cash, and customer locality.