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5 MUSTs to Choosing the Right Management Consultant

Last update on April 14, 2016.

Business consultantA management consultant is the one who provides professional services to companies in economic, financial or technical fields, that isn’t the traditional job of accounting advice, tax, labor or audit, all of which have their own classification. As a result, the management consultant could focus on everything else that the company needs such as: 

  • Gathering and analysis of a company’s activity and/or business intelligence 
  • Collection of the company’s financial and industrial information  
  • Development of a strategy to reach to potential buyers  
  • Operations and/or process improvements 
  • Technology Implementation and Integration 
  • Cost Savings 
  • Overall business vision & ...

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3 Reasons Why Market Research is Important

Last update on April 14, 2016.

Market ResearchWhether you work in a startup, own a small business, or are part of a large organization that is in the process of launching a new product, market research should be one of the first tasks that you undertake. According to Samuel L. Cornish from Durham University, Market Intelligence is information relevant to a company’s market, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining strategy in areas such as market opportunity, market penetration strategy and market development. There are two types of market research:

Primary Research is research that you conduct yourself. Either ...

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What is Market Potential and How to Calculate It

Last update on April 14, 2016.

Calculating market potentialSo you just started a business, own a small business or are launching a new product, why bother estimating market potential? This is a very important step when running a business. First, it will show whether you have a big enough market for your product or service, and second, it will open your eyes to possible new opportunities and actions you may take to help with success. Market potential is all of the possible people that would purchase your product or service, multiplied by an average selling price and by an estimate of how many products those people would purchase ...

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