How to Manage Closest Location in Odoo 17 Inventory
Market Research July 2009
1. Market Research CCIAP Inc Educational Series 6 July 2009 Presenter: Connie da Cunha President CCIAP Copyright Prepared for the Chamber of Commerce and Industry Australia Philippines Inc.
2. Agenda What is Market Research? Why market research is important? How to do market research on the cheap? Practical tips and tools. So what? You got the data what now? Q&A Copyright Prepared for the Chamber of Commerce and Industry Australia Philippines Inc.
3. What is Market Research? Is a process used by firms and/or individuals to be able to: determine customer needs and wants and keep up with changes in customers’ behaviour; understand the nature of competition. Copyright Prepared for the Chamber of Commerce and Industry Australia Philippines Inc.
9. Investment decisions (e.g. investing on new equipment)Copyright Prepared for the Chamber of Commerce and Industry Australia Philippines Inc.
10. How to do market research on the cheap – practical tips and tools But first understanding the types of data Primary data – information gathered specific to need Secondary data – information gathered for another purpose but can be used by a marketing decision maker Copyright Prepared for the Chamber of Commerce and Industry Australia Philippines Inc.
11. How to do market research on the cheap – practical tips and tools Primary data Market research by personal observation or survey Set your goal/s (think SMART) Formulate your questions carefully Use simple English Limit your questions (8-10 is recommended) Observe confidentiality at all times Offer incentives Go to places where your target market gather most or use on-line tools e.g. Survey Monkey Copyright Prepared for the Chamber of Commerce and Industry Australia Philippines Inc.
12. Secondary data Statistics (Generally free or low cost) Australian Bureau of Statistics (www.abs.gov.au) Philippines National Statistics Office (www.census.gov.ph) Dept of Trade & Industry Philippines (www.dti.gov.ph) Office of the Economic and Statistical Research (www.oesr.qld.gov.au) All Countries go to World Bank portal (www.worldbank.org) Industry Reports (Prices vary) Ibisworld (www.ibisworld.com.au) Philippines Industry Reports (store.businessmonitor.com/products/list_all/industries/iq/philippines/) Maximise the use of Business Resource Centres Statistical information and industry reports (from $36 per report) Detailed benchmarking data for your business type ($50 incl GST per type) Copyright Prepared for the Chamber of Commerce and Industry Australia Philippines Inc. How to do market research on the cheap – practical tips and tools
13. Understanding common market variables: Demographic Geographic Psychographic Consumer Behaviours Copyright Prepared for the Chamber of Commerce and Industry Australia Philippines Inc. How to do market research on the cheap – practical tips and tools
14. More Useful Websites www.business.gov.au www.business.qld.gov.au www.nscb.gov.ph www.business.gov.ph www.surveymonkey.com www.odesk.com Copyright Prepared for the Chamber of Commerce and Industry Australia Philippines Inc.
15. So what? You got the data. What now? Use the market research data when: Preparing business plans identify your niche market understand your competition Preparing marketing plans Marketing Mix (5 Ps: product, price, promotion, place, people, Developing your products/services Developing markets (geographical transfers) Job hunting (ID big companies, nature of industries) Career planning (“future proofing”) Copyright Prepared for the Chamber of Commerce and Industry Australia Philippines Inc.
16. Case study A new business is planning to open a car spare parts store in South East Queensland, discuss: what the owner should consider in his/her market research and why? how the owner should conduct his/her market research? Copyright Prepared for the Chamber of Commerce and Industry Australia Philippines Inc.
17. Consider: Investigate best location Accessibility, rental cost, exposure Demography Population, age, lifestyle, income level Customer buying behaviour DIY, buying decisions Competition Number of competition, brand power, price of goods How? ABS, OESR, Yellow Pages Directory, Observe. Copyright Prepared for the Chamber of Commerce and Industry Australia Philippines Inc.
18. Copyright Prepared for the Chamber of Commerce and Industry Australia Philippines Inc. Questions?
19. Copyright Prepared for the Chamber of Commerce and Industry Australia Philippines Inc. Thank You.