Science 7 - LAND and SEA BREEZE and its Characteristics
Economic Comparative Analysis Of Two Businesses
1. 1 PRINCIPLE OF ECONOMICS
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SCHOOL OF ARCHITECTURE, BUILDING AND DESIGN
A Tale of Two Businesses
A Comparative Analysis of 2 Businesses of
Similar Industry in Different Geographical Locations
NAME : LEE PEI GIE ( 0315653 )
THAN LEK MEI ( 0315538 )
KHOO XIN YEE ( 0316180 )
COURSE : FNBE
MODULE : PRINCIPLE OF ECONOMICS [FNBE0135]
SESSION : FEBRUARY, 2014
LECTURER : MR. CHANG JAU HO
SUBMISSION DATE: 13TH
JUNE 2014
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Table of Content
No. Content Page number
1. Introduction 3
2. The Legacy
- Chong Kok Kopitiam
- Jonker 88
4 - 7
3. Brief Bio of the Businesses
- Chong Kok Kopitiam
- Jonker 88
8 - 14
4. Comparative Analysis of the Businesses’ Competitive Traits 15 - 19
5. Recommendation 20 - 21
6. Appendix 22 - 34
7. References 35
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Introduction
There is a variation of market systems that exist in the real world. It is crucial for business
owners to understand what type of market systems they are operating in when making pricing
and production decisions, or when determining whether to enter or leave a particular industry.
The aim of this assignment is to evaluate market forces and consumer behavior in similar
industry. Besides, it is also important to analyze and compare the different types of firm
competition in a market.
This report presents the economic behavior of two different businesses in food industry, which
are Jonker 88 ( Melacca ) and Chong Kok Kopitiam ( Klang Valley ). In regard with this, we also
compare the characteristics of different types of market competition between the said businesses.
The clearer information about the background of both coffee shops is followed by the analysis
regarding their competitive behaviors of the businesses and their respective markets. Finally,
ways to improve the competitiveness for each business are recommended.
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HISTORY
Chong Kok Kopitiam, located in front of Klang KTM Trains Station has been running
since 1940 and it has been recognized for 70 years. Chong Kok Kopitiam is originated from 5 of
Hainan people. They were crewman coming from Hainan at that time. After that, they arrived at
Klang and worked together to open Chong Kok Kopitiam.
At 1970's, the first floor is utilized by a western restaurant, and the second floor used to
be a motel. But now both of them have run out of business. Only the ground floor is still running
on business, which is the kopitiam. They still keep the original building and environment to
ensure the experience of what it was like 70 years back then.
Chong Kok Kopitiam never changes over 70 years, customers still keep supporting them.
Customers can enjoy their charcoal baked toast with kaya, and original Hainan coffee, they are
popular in Chong Kok Kopitiam.
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HISTORY
JONKER88 PROFILE
Jonker Dessert 88, most popularly known as, Jonker88.com, is a cultural entity in form of museum café,
legally formed on 1997 in Malaysia. Jonker88.com is the subsidiary of Jia Seng Art Gallery which was
incorporated in year of 1986 in Melaka, Jonker Street, now known as Jalan Hang Jebat, headed by Jason
& Johnson Yoong, family team are Jenny and CS Yoong, all born in Melaka.
HISTORY OF JONKER88
This is the background and history of Jonker88, as museum café, first of its kind in this region, served
with cultural uniqueness of Melaka folk foods & beverages, popularly known in as inherited home-made
recipe , among those are the Menu of Jonker88: “Baba Chendol” which includes eight types of
ingredients. There is also the “Baba Durian Chendol”, which makes use of the King of Fruits. They also
have the “Baba Ice Kacang”, “Nyonya Asam Laksa”, “Baba Laksa”, “Baba Sea Food Laksa”, “Baba
Chicken Laksa”, “Baba Goreng-Goreng” and many more. This is a typical traditional living of Baba-
Nyonya. This is their fundamental mission to facilitate their world citizens who visited Melaka, can be
better served and memorized with local folk foods and cultural living style. This is what Jonker88 stands
for!
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JONKER88 - THE LIVING TREASURE OF MELACCA.
Jonker88 is culturally placed at the cultural corridor of the Stadyhuts, Clock Tower, St. Paul Hill, Heren
Street (Jalan Yun Cheng Lock) & Jalan Tokong (Cheng Hong Teng Temple), along the Melaka Riverside,
Sungei Melaka, where 15th century of Melaka Sultanate Era was established in 1400-1500, where Ming
Dynasty’s Admiral Cheng He’s treasure fleet landed at, also found the sites of Portuguese Occupation in
1511-1641 and Dutch Occupation in 1641-1796. This is the cultural corridor of the world’s civilizations
and great powers found, not less the British administration and neighbouring countries of Nusantara,
India, Middle East, China.
PARTNERS
Jonker88 is the smart partners of Nusantara Museum
and Maritime Archaeology Museum, institutional
member of United Nations Educational, Scientific and
Cultural Organization( UNESCO) -ICOM (International
Council of Museums, 29766). Their stakeholders of
world shared cultural heritage in Melaka, is
International Cultural Exchange Foundation, all are non
profit cultural organizations. Jonker 88, Jalan Jalan
Hang Jebat, in fact, is the legally registered office of
Maritime Archaeology Museum where MAM museum
was formed in 1998.
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Brief Bio of the
Businesses
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Chong Kok Kopitiam
Chong Kok Kopitiam, located in front of Klang KTM Trains Station has been running
since 1940 and it has been recognized for 70 years. Chong Kok Kopitiam is originated from 5 of
Hainan people. They were crewman coming from Hainan at that time. After that, they arrived at
Klang and worked together to open Chong Kok Kopitiam.
At 1970's, the first floor is utilized by a western restaurant, and the second floor used to
be a motel. But now both of them have run out of business. Only the ground floor is still running
on business, which is the kopitiam. They still keep the original building and environment to
ensure the experience of what it was like 70 years back then.
“My grandfather is the key founder of the business, we are the third generation that carry
on the business,” said the owner of the kopitiam, we called her ‘aunty’. According to her, hotel
service was provided in those early years, but the business was changed to coffee shop since it is
taken over by the third generation. Currently the business is managed by her and her sister,
where her sister works in morning shift, whilst she continues in afternoon shift.
The founder of the business was a member of Malayan Tobacco Company.
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Chong Kok Kopitiam never changes over 70 years. They are very popular with their
charcoal baked toast with kaya, and the original Hainan coffee. “Most of them will also come to
for our kampong style nasi lemak, which often finish selling in noon,” she continued. Other than
that they also sell a variety of snacks such as prawn fritters, fried bananas, cheese cake and half-
boiled egg. For her, mamak stalls nearby are not her big competitors because they have their own
way of style and food. While they are famous with their very own hainanese coffee, Indian shop
serves normal coffees. She said proudly, “Our coffee is definitely more quality because we have
our own recipe for the coffee powder. Compared with the other shops here, our coffee powder is
not ready made. We have some foreign customers who came back from Australia, England or the
United States of America. Sometimes they will bring their relatives or friends along back to our
shop to taste our coffee.” Besides, they make their own kaya as well, so that the breads taste
different from others. All those food are prepared by Muslims, so that everything is halal and can
be tried by everyone.
Every day, Chong Kok Kopitiam starts
operating at 6 a.m. in the morning. She claimed
that her kopitiam makes good income because it
is easily accessible, that is, a stone’s away from
the town’s train station and conveniently located
facing the main road, which makes it easy to find.
“Most of my customers are office people working
around and people who goes to work by KTM
Commuter train service. Therefore many people will stop by at our kopitiam since early in the
morning.” There are approximately 700-800 customers that visit Chong Kok Kopitiam per day
during weekdays and even weekends. “Some of the locals or foreigners will bring along their
family and relatives to have breakfast here, so the business will still operate well during
weekends or holidays,” she added.
KTM Commuter train station is just a walking
distance from Chong Kok Kopitiam.
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When asked what the motives for starting the business were, the owner explained, “As I
just told you, this business was not started by us but my grandfather, we are just carrying on the
business. Those days, this was a hotel business, so you can see that the name of the kopitiam is
still using the hotel’s name ’Zhong Guo Jiu Dian’ which literally means China Hotel in English.
We just maintain what my grandfather had done and never thought of changing the business. He
and his friends came from China and open a coffee shop business because it was the easiest
business that time.”
Having 11 Muslim employees in the shop, the owner told us that she never thought of
expansion as they just want to maintain the old-school kopitiam as a treasure trove of history and
allow customers to enjoy the good food from the golden old days. To step into Chong Kok
Kopitiam is definitely to take a trip back to 1940s Chinese community life.
While we were enjoying the authentic
marvelous kopitiam coffee, we can also feel the
truly multi racial harmony ambience in this
interesting nostalgic eatery in Malaysia. The shop
house was full of patrons but there was a small
town neighbourhood atmosphere that was
pleasant for city folks. Although the crowd was
mainly Chinese, there were enough Malays and
Indians to make it a truly Malaysian gathering place.
In the meantime, we can see the owner greeted her customers enthusiastically. She told
us, “Most of my customers are regular customers. I always welcome them cheerfully so that they
feel like they are at home here. Some of them can spend whole day here because they feel
comfortable with the people here, some oldies make friends here and chit-chatting like old
friends though they are from different races. This is what actually making us proud.”
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Jonker 88 ( Melacca )
Jonker Dessert 88, most popularly known as, Jonker88.com, is a cultural entity in form of
museum café, legally formed on 1997 in Malaysia. Jonker88.com is the subsidiary of Jia Seng
Art Gallery which was incorporated in the year of 1986 in Melaka, Jonker Street, now known as
Jalan Hang Jebat.
Jonker 88 has slowly been gaining a reputation as a museum café, first of its kind in
Melacca, served with cultural uniqueness of Melacca folk foods & beverages, popularly known
in their inherited home-made recipe. We do not doubt that for a bit. After dining in Jonker 88
café twice, we must say it is quite an experience. And for those who are searching for a culinary
experience like no other, look no further than Jonker 88 in Melacca.
“I started the museum business in 1986. Our shop provided only souvenir services for
tourists. I had renovated my shop with a lot of museum pieces displayed throughout the cafe.
Besides that, aged wooden display cabinets hold priceless antiques and memorabilia which are in
the front portion of the cafe. In 1997, my shop has started to provide food services which is two
in one museum café,” said Mr. Justin, the current owner of Jonker 88.” We then peered at the
memorabilia from decades ago that are tastefully laid throughout the place, and suddenly stunned
looking at the whole stack of money from different countries displayed. Xin Yee exclaimed
cheekily, “ Wow! Can I have that money?” Justin then told us the stamps, money and antiques
displayed are intended to educate their visitors about the world shared heritage of Melacca. He
pointed at those displays and explained briefly about the history of each of them.
Bank notes from all over the countries were displayed on the cabinet.
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When we asked further about the core idea of starting the café business, Mr. Justin
revealed that the museum business ( 1986 ) is founded by his father who is a native of Melacca
and indulged in collecting antiques. Nonetheless, Mr. Justin and his brother are the key founder
of food business ( 1997 ). In other words, they are the first generation of Yoong’s Family that
started this business. “All the secret recipes of these dishes are originated by us,” added Mr.
Justin.
What actually motivated Mr. Justin and his brother to come out with the idea of
transforming the museum business into two in one museum café?
“I reckoned that food is the main supplement for us, food is a necessity for all. Food
should not be a merchandise, to be bought and sold as jewels are bought and sold by
those who have the financial ability to buy. Food is a human necessity, just like water and
air, it should be available for anyone. I always think : the right to an adequate standard of
living should include adequate food. Food can be changed in various form, we can
change the original food into different flavor, style and so on. To me, food is unlimited
money! And this is how I start the café.”
Mr. Justin continued to recount the ‘story’ about his shop patiently, “Our customers came
from various countries such as Japan, Europe, Indonesia and Singapore other than local people.
Majority of my customers are foreigners. I can’t tell the exact number of customers that visit my
shop daily because it is unlimited and the customer flow is continuous from morning until the
shop is closed. What I can tell is that the business is significantly boosted during holiday seasons
of those countries respectively.”
It was very easy to spot this cafe because of the crowd in front of the restaurant.
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It did not surprise us, for in our head we have visualized the food served by Jonker 88 is
certainly extraordinary. This is probably due to the reviews we have seen on internet before we
stepped into the café acclaim that it is a must to try their desserts and laksa. This quaint café’s
main products are their Nyonya Laksa & Baba Laksa, and the mix of the two which is known as
Laksa Kahwin. Besides, they are well-known with their cendols, especially Durian Cendol. Mr.
Justin served us generously with several popular foods in his café. We started with Baba Laksa,
it is basically a noodle in sweet coconut milk soup, served with some cucumber and onion slices,
tofu pok and a spoonful of tuna. With the addition of tuna, Baba Laksa tasted like both curry mee
and laksa combined in a good way. Next, we tried its E.P.C ( Eight Precious Cendol ). We guess
that the cendol had eight different ingredients under the shaved ice from its name. We also
ordered Durian Cendol ourselves as acclaimed on internet. Both desserts consisted of Gula
Melaka (palm sugar) and Santan goodness which made the desserts truly remarkable! “Is it tasty?”
Mr. Justin asked us as merrily handed us another plate of rojak. “ That’s why I supposed that I do
not have any competitor in this area and I do not have to worry even there is another cendol shop
opened in front of my shop as their food are not original. In Jonker Street, if your business
imitates another shop’s products, your business usually wouldn’t last long.” He also told us that
the foods he sells are all halal and therefore they are all prepared by his Muslim employees.
We found that Mr. Justin is a friendly person. As we were enjoying the food served by
him, he greeted his customers and chit-chat with them. It undoubtedly causes the business
remains good as his old customers will always back to him.
When discussing about their recent developments
and accomplishments in these few years, Mr. Justin said
proudly that Jonker 88 has greatly promoted in Taiwan
recently, where every tour and travel agent from Taiwan
is compulsory to visit their shop when there are tours
arranged in Melacca. This is one of the reasons they have
more foreign customers than local customers. Jonker 88
has total of 12 employees now. Mr. Justin emphasized
that they do not have any plan for developments and
expansions. Their main focus is just to preserve the food
quality alone.
Certificate of Excellence certified by
Tripadvisor for Business.
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Comparative Analysis of the
Businesses’ Competitive Traits
Brief bios of each business’ top 3 competitors.
Jonker
88
-
Chong Kok Kopitiam
2) Restoran De Salma and 3) Restoran Bismillah are just normal mamak stalls.
Conclusion : Jonker 88 has no competitor. On the other hand, Chong Kok Kopitiam’s main
competitors are Seng Huat Restaurant and other mamak stalls.
Number of competitors.
Jonker 88
They suggest that they do not have competitors
because their foods are all original and no any
other can imitate and copy their food style.
Chong Kok Kopitiam
Even though selling different kind of foods, the
owner of Chong Kok Kopitiam still assumes
that mamak stalls and a Bak Kut Teh restaurant
around her shop are her business’s competitors.
So there are total of 3 main competitors for her
business.
Conclusion : Jonker 88 has less or no competitor. On the other hand, Chong Kok Kopitiam has
total of 3 main competitors, however there are still competitors around which are mostly mamak
stalls because it locates a stone’s throw away from Klang Indian Street.
1) Seng Huat Restaurant
Seng Huat Restaurant is well known as one of the
restaurant which offers the best among the best
Bak Kut Teh in Klang. It is located quite near to
the Klang KTM. So if you can find Klang’s KTM
station, it is located around the shop lots there. The
restaurant is also said to have 31 years of history
in Bak Kut Teh business and it is real long.
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Obstacles faced by new businesses who wish to enter the respective markets today.
Jonker 88
Creativity. Imitating other business’s
product is not going to help the new
businesses gain customers. They have
to think of new menu based on current
fads. Creativity can come in the form of
restaurant design, new dishes and
drinks, presentation, and variations on
service.
Chong Kok Kopitiam
Food Quality. New businesses that
deliver normal services or food quality
will not improve their popularity and
network effects. They are encouraged
to serve magnificent food with
‘signature’ flavours.
Accessibility. Choose a highly visible
location that has a suitable consumer
base nearby. For example, do not open
Strategies which are/were employed by the businesses to compete with their competitors.
Jonker 88
Good Food Quality. Jonker 88 focuses
on food quality preservation and
upgrading.
Menu Variation. Jonker 88 will
change their menu every year where
they will add more food variation year
by year.
Friendly Service. The owner of Joker
88 serves his customers enthusiastically
and even chit-chatting with them.
Chong Kok Kopitiam
Food Variation. When some other
restaurants sells only limited type of
foods, Chong Kok Kopitiam sells a
variety of food, most importantly, the
food are all halal which can be eaten by
all race of people.
Affordable Price. All prices for the
food at Chong Kok Kopitiam are
considered cheap and affordable. For
example, a set of baked toast or a cup
of hainanese coffee cost approximately
RM1.50 to RM2.00.
Prompt and Friendly Service. Chong
Kok Kopitiam offers quick service so
that the customers do not have to wait
too long, especially when they are in
rush.
Good ethical and friendly attitude can
be seen also from all the employees and
the owner as well.
Conclusion : As Jonker 88 has great network effects, it only apply few strategies to compete
with its rivals, which are good food quality and friendly service. On the other hand, Chong Kok
Kopitiam works more on strategies to compete with its competitors, such as food variation,
affordable price without compromise the food quality, prompt and friendly service. Both of the
café’s owners suggested that these strategies are effective.
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Preservation of Local Food.
Businesses that sell franchise or
western food in Jonker Street will end
up ceasing their businesses because the
tourists intend to try the local food that
they cannot have them in other places.
a family restaurant in an area full of
office complexes.
Conclusion : Obstacles faced by new businesses who wish to enter market like Jonker 88 are
creativity on food variation as well as preservation of local food. On the other hand, food quality
and accessibility are important aspects for new businesses who wish to enter market like Chong
Kok Kopitiam. Creativity and food quality are the main criteria that are more difficult to
overcome if the new businesses wish to make more profits.
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Comparative Analysis Summary Table
Competitive Traits Jonker 88
(Melaka-Based)
Chong Kok Kopitiam
(Klang Valley-Based)
1. Number of
Competitors
0 1-3
2. Barrier to Entry Very strong.
Jonker 88 has very strong
network effects. Its popularity
greatly increases through
television, newspapers,
magazines and social network.
Jonker 88’s also has a strong
brand identity which creates
loyalty, ‘locks in’ its existing
customers and deters entry.
Strong.
Chong Kok Kopitiam has
strong network effects. It
maintains its popularity
through newspapers,
magazines and social
network.
3. Differentiated or
Standardized Products
(if differentiated
provide 2 to 3
examples)
Differentiated products.
Laksa ( Baba Laksa, Nonya
Laksa, Laksa Kahwin, Baba
Sea-food Laksa and etc. )
Cendol ( Durian Cendol, Eight
Precious Cendol, Baba Cendol,
Mango Cendol and etc. )
Differentiated products.
Bun ( plain, wholemale or
wheat)
Bread ( with kaya or butter )
Standardized product
Hainanese coffee
4. Pricing Power (Price
Maker or Taker?
Why?)
Strong pricing power and power
maker.
Jonker 88 has very few or zero
competitor in its area because
it has strong barrier to entry.
Thus even Jonker 88 increases
Strong, but weaker pricing power
compared to Jonker 88. Price taker.
Chong Kok Kopitiam has
weaker barrier to entry. If it
increases its price, some of
the customers might still
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its food price, customers will
still back to it because they
already stick to its product
where there is no other cafe
that sell the same product as
theirs.
stick to it, but a few of them
might go for cheaper food in
Mamak stall.
5. Other
Characteristics
No close substitute product.
( There is no alternative
products offered by other cafes
or restaurants nearby. )
Jonker 88 does not need to do
advertising constantly because
it has strong network effects.
Has close substitute
product. ( Mamak stall
nearby sell nasi lemak or
coffee like Chong Kok
Kopitiam does. However
Chong Kok Kopitiam still
has its exclusive product
like Hainanese coffee and
self-made kaya, which
makes other restaurants
nearby incomparable. )
There is mutual dependence
between Chong Kok
Kopitiam and restaurants
nearby. By increasing its
products’ prices, they can be
overpricing themselves out
of the market in that area.
Thus it maintained its
products’ prices for the past
10 years.
Chong Kok kopitiam does
not need to do advertising
because it has rather strong
network effects.
6. Verdict Monopoly Oligopoly
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Recommendation
After visiting these restaurants, we suppose that both Jonker 88 and Chong Kok
Kopitiam’s businesses are doing well. However, indeed, nothing is prefect, and these two
businesses have their flaws too. Here are some recommendations from us which we think may
enable the businesses to increase their competitiveness.
Jonker 88
1) Always maintain the food quality.
On the first day of our interview at
Jonker 88, the food that was served
by the owner taste delightful.
However, on the second day we
went back for its food that we
expected it to have similar great
taste, it tasted differently already.
This was really disappointing us.
Here is an example. Gula
Melaka (palm sugar) and Santan were heavily drizzled on the E.P.C. ( Eight Precious Cendol )
however we think that too much Gula Melaka would spoil the cendol for its overpowering taste
and over sweetness. So we think they should maintain their cendol’s quality especially its taste
probably by fixing their amount of sugar. This criterion works similarly to other food as well.
This is important because if some customer from far come purposely for their food yet the food
taste different from what they expected on that specific day, if will somehow decrease their
popularity, we got to admit that network effects are powerful.
2) Provide sufficient seats.
We think that insufficient seat is also one of the
problems Jonker 88 should take in account. On the
day we have our interview session, we went to the
cafe earlier so we can directly had our seats there.
Dreadfully, there was a nice long queue when our
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interview session ended probably due to the self-service concept, where everyone had to pay and
wait for their food at the stall just like how we always order in Mc Donald or KFC franchise
restaurant. We observed that it was indeed extremely hard for the customers to get a seat in there
that they had to reserve a seat before ordering. In fact, some of them had to share table with
others or stood while eating but that was just what everyone did there. We think that it was quite
inconvenient because when the customers wanted to take a rest while enjoying the cooling iced
Baba Cendol after sweating and walking around the Melacca town centre, the insufficient seat
had definitely extinguished their hope or intention to have their meal at Jonker 88. So we
recommend that more seats are provided for the customers so that they can truly enjoy the
marvelous food.
Chong Kok Kopitiam
1) Concern the cleanliness of the restaurant.
Hygiene is the most important criteria of a business that runs food service, because it will affect
customers’ health as well. When we interviewed the business, frankly speak, we can see plenty
of cigarettes butts on the floor. It is recommended that ash tray should be prepared so the
smokers can throw their used cigarettes appropriately and thus make the restaurant look cleaner
which able to boost customers’ appetite to have their meal.
2) Renovate.
We understand that old coffee shop which has long history insist to preserve the old architecture
and their legacy. While old Chong Kok Kopitiam which still shows signs of life, we can clearly
see some disgusting stains on the wall which seem irremovable. These stains will certainly
decrease customers’ appetite to have their meal. Thus we suppose that they should renovate their
shop as how Jonker 88 did. They can revamp some part of the restaurant without disturbing the
historical environment of the place. Only then, it will have its own unique charm and indirectly
causing customers’ experience of having meal in Chong Kok Kopitiam more pleasurable.
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JONKER 88
Premise of Jonker 88.
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1 3
2 4
Signature food of Jonker 88.
1) Cendol ; 2) Baba Laksa ; 3) Nonya Laksa ; 4) Rojak
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Jonker 88 was a museum and therefore there are still some priceless antiques and memorabilia
throughout the café.
Jonker 88 com is also the subsidiary of Jia Seng Art Gallery.
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Facebook page of Jonker 88.
https://www.facebook.com/jonker88
Official website of Jonker 88
http://www.jonker88.com/
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There are also plenty of good reviews and
articles written by customers through blogs to
promote Jonker 88.
Jonker 88 is well-publicized through
news media such as newspaper,
magazines and television.
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Chong Kok Kopitiam
Premise of Chong Kok Kopitiam.
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The interior design of Chong Kok Kopitiam.
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Signature food of Chong Kok Kopitiam.
1. Hainanese coffee ; 2. Charcoal baked toast ; 3. Nasi lemak with sambal and sotong.
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Official website of Chong Kok Kopitiam
Some reviews from Chong Kok Kopitiam’s customers.
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Chong Kok Kopitiam is also well-publicized through newspapers.
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Group photo with businesses’ owners.
Photo with Jonker 88’s owner. ( Man in stripe shirt. )
Photo with Chong Kok Kopitiam’s owner. ( Woman in the middle. )
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Interview Questions
1) Number of branches and employees
2) Main products or services sold
3) Estimated current number of customers
4) When were the business started?
5) Who are the key founders?
6) What was the motive(s) for starting the business?
7) Recent development ( What has the business accomplished or what changes have occurred in
business over past 3 – 5 years? )
8) Who are your customers?
9) What is the business’ annual revenue figure?
10) Do you have many competitors? Who are they? Who are your top 3 competitors?
11) Is the business constantly facing competition from other competitors? What strategies have
they business used to compete with you?
12) How does your business compete with your competitors? What strategies are employed ( e.g,
pricing, advertising, product variety, etc. ) and how successful are they?
13) Generally, do you feel it is easy or hard to enter this market? Why?
14) What are the obstacles faced by new businesses who wish to enter this market today? Are
they easy to overcome? Why?
15) In the coming year, what would you like to achieve with your business?
16) If you could give one piece of advice to someone thinking about starting a business, what
would it be?