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BUS 707 – Applied Business Research

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BUS707 Applied Business Research (BUS707)

   

Added on  2020-04-21

BUS 707 – Applied Business Research

   

BUS707 Applied Business Research (BUS707)

   Added on 2020-04-21

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Running Head: APPLIED BUSINESS RESEARCHApplied business research Name of the StudentName of the UniversityAuthor Note
BUS 707 – Applied Business Research_1
1APPLIED BUSINESS RESEARCHAnswer to question – 1Research is needed before making decision to determine the type of jewellery peoplewould prefer, the trends popular among them, if the population in the target market is educated,belong to high income class, working with high cost of living, can afford luxury items, if theinternet access is high in the target market. It will help decide if the Jewellery store could beopened in Adelaide (Armstrong et al. 2014). Answer to question- 2The four issues relevant to the jewellery business (Sheth, Sinha and Shah 2016) are-Barriers to market entry- brand equity of existing players, specialised licenses,determining the start-up costs, and distribution challenges creates hurdles toenter a competitive market High level of inventories- jewellery sector is dependent on the import of rawmaterials. During the slack season it may be difficult to maintain the inventory.There is a high price risk during the recessionary trends Overcoming entrenched brands is the other major issue as the customer loyaltymakes it difficult for new retailers to establish, It is challenging for the existingretailers to define their brand High risk of loss- without the advance security system it is not possible to protectthe high cost inventory. It requires largest infrastructure expenses and regularmonitoring.
BUS 707 – Applied Business Research_2

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