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Business Statistics - Essay Example

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Consequently, this has generated competition in the business sector hence bringing competition. Furthermore, for business entities to survive in highly competitive…
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Business Statistics
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Download file to see previous pages ategy refers to an operation that an organization conducts to converse information concerning services and products to potential customers in order to induce them to purchase such products (Tellis 1).
In contemporary organizations, the main aim of advertising strategy is to increase awareness of organizations’ services and products, upsurge total customers and competitors and finally, to fosters the business image of an organization. For any business entity interested in succeeding, advertisement is very vital because through it, an organization is capable of getting new customers as it increases its total consumer base. Secondly, advertisement is important as it retains the organizations’ customers thus avoiding their diversion to other products. Thirdly, advertisement escalates the total company sales because when a company advertises definite commodity, it will explain to individuals why that commodity is better than its substitute hence enhancing many people to prefer their commodity. Finally, advertisement leads to fortunate change in a company’s’ products hence increasing its total sales (Tellis 3). I decided to analyze the importance of advertising to an organization since it will help me understand whether increasing the budgets assigned to advertising has any positive effect on the performance of the organization.
My business research will entail ten business organizations in U.S that advertise their goods and services together with other ten business organizations that do not advertise their products. I will conduct random sampling from a list of both organizations that advertise their products and those that do not. I will select ten organizations from each list and collect information concerning my research questions from these organizations before concluding on my hypothesis. Therefore, the total sample for this research is twenty organizations. The data collected will be mainly related to the three research hypotheses that the research is ...Download file to see next pagesRead More
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