The paper "Potential for Intellectual Property Protection" is an outstanding example of business coursework. Let us think of any position in which you as the customer need extra service from a company that is attending to your needs. First, this is exceedingly common, and most people have experienced this at one time or another. In the services world that entails consumers and producers, there is always room for improvement. An extra step can be taken to enhance the experience of a customer. Companies look for this hook. This is how they make sure people keep coming back for the same service.
Of course, this is elementary is marketing as people are fickle and migrate to another source if the services are better on the other side. Thus, the thing to do for a company would be to look for such a position, in which the customer would need extra service. This would act as an extra weak point of vulnerability to exploit from the customers so that they keep coming back. Otherwise, they will start to get bored. It is just human nature such that one will start to hear familiar things.
Something likes ‘ the company is starting to lose its creativity, or they are just not giving me what I want. ’ This is natural, and when everyone else in the business wants to steal your share of the market, it is just fair competition because the customer is spoilt for choice. The thing to win them over in the best-case scenario would be to try and decrease the prices of the goods or services as that is the most common strategy used by companies that have run out of hooks to hold on to their customers. Of course, this is not seemly for business in the long run, but it gives results in a remarkably short time, in most cases.
The business idea illustrated in this paper depends a lot on the potentiality of the market demand. The process of evaluating the market demand may be quite difficult in most cases because it involves understanding the market psychology of the customers, which tends to be highly unpredictable. Contrary to what many people think, it is not about forecasting the sales of the company but rather about getting to know the vast picture of what forces drive the market and so on (English and Moate, 2009).
Cukier, K., 2005. A market for ideas. [Online] The economist online. Available at: <
http://www.economist.com/node/5014990?story_id=5014990> [Accessed July 14, 2011].
English, J. W. and Moate, B., 2009. Discovering New Business Opportunities. Australia: Griffin
World Intellectual Property Organization, 2011. What is Intellectual Property? [Online] Geneva:
WIPO. Available at: