Michael Morris
Business 101
Research and development is one of the two main ideas that start the business. There needs to
be a product that you think will sell. This is very important. If it is something that is obscure, it probably
isn’t u8a good idea. It needs to be something that will dazzle people and make them want to buy it.
The second idea is production. The product needs to be made efficiently and at an inexpensive
price. You want the product to be well made and last long, but not cost too much to make. If it costs
too much then there is no point in making it because there won’t be money made.
Marketing is important to get the name of the business out there and having an established low
price to get customers to come in. At first there needs to be quite a bit of advertising to get people to
realize that the business is there. After this is established there need not be as much as when it was first
started because people will know of it, there just needs to be enough to let people know that the
business is still there. Once people start coming in regularly the price needs to be reasonable and worth
the customers time to go there and give them their business instead of somewhere else.
Customer service is well needed in keeping the business going. If the customer is not satisfied,
he/she will no longer do business with you. It is important to hire people who know a lot about the
because more customers will be happier with the products and service that they receive.