Business Research 

Market research is when a business collects data to help make business decisions. This research can be accomplished through a number of methods, including surveys, interviews, market panels, case studies, data collection or even focus groups. There are six steps in the process: 

1. Defining the question 
2. Setting research objectives 
3. Gathering primary and/or secondary data 
4. Designing the sample and determining the target population 
5. Conducting the study and analyzing the data results 
6. Presenting the data to business decision makers

Procurement

Procurement may be a simple purchasing arrangement with a supplier items. It may also involve a more complex arrangement with the seller or a group of suppliers that ties required quantity, quality, and delivery into a production process

For example, direct procurement systems involve the integration of purchasing into a company's supply-chain management system, delivering the right supplies at the right time.  This procurement method is classified in manufacturing systems as "just-in-time," which minimize inventory holding costs and ensures the smooth delivery of supplies needed in the manufacturing process.

Promotion 

The most important tool used in promotion is sales promotion. Most consumers relate ideas of marketing to the use of sales promotion techniques. The other main forms are advertising, and personal selling. The following section deals with sales promotion in detail.

1. Bridge between advertising and personal selling: Sales promotion consists of those activities other than personal selling, advertising and publicity. It serves as a bridge between personal selling and advertising.

2. Introduction of new products: Sales promotional devices help introduce new products in the market. They induce buyers to purchase a new product. Free samples are distributed or money or merchandise allowance is offered to the dealers to stock and sell the new product

3. Attracting new customers: Sales promotion aims at wooing new customers. Sales promotional devices at consumers level include Coupons, product samples, giving demonstration about the product, organizing contests, refund offers, offering free trials etc. These stimulate customers to make purchase promptly on the spot.

4. Inducing present customers to buy: Sales promotion induces present customers to buy more of the product. Sales promotion methods work faster than advertisement. Moreover, sales promotion materials make the salesman’s effort more productive. It enables the consumer to know more about the product, its ingredients and uses.

5. Increasing sales during off season: Some products are seasonal in nature. After the season is over, they are not demanded any more. Sales promotion is used to retain customer’s interest in the product during off-season. Short term incentives offered to the buyers stimulate sales

Communication

Communication is the process of passing information from one person to another. The purpose of communication understands of information. Whatever one wants to say to someone should be clearly understood by him else the very purpose of the communication would be defeated.

Importance of Communication:

Effective communication is vital for efficient management and to improve industrial relations. In modern world the growth of telecommunication, information technology and the growing competition and complexity in production have increased importance of communication in organisations large and small irrespective of their type and kind. A corporate executive must be in a position to communicate effectively with his superiors, colleagues in other departments and subordinates. This will make him perform well and enable him to give his hundred percent to the organisation.