It works out who the company actually is — before anything else runs.
A target is identified by its website, not by its name. The studio opens the site and follows the pages that name an operator — footer, terms, privacy, about — reads what they sell and to whom, and only then starts searching. Everything downstream is handed that as settled fact.
It reports back the pages it opened and the same-named businesses it ruled out. That second list is the point: "Northwind" is four companies, and a pitch researched against the wrong one is worse than no pitch at all.
You see the pages read and the companies ruled out, on every run.