Understand Your Market And Competitor
There are best way to understand
market by conduct market research. major
three way to we conduct market research
1. Secondary Research (Desk
Research): collect information throw existing information like internet,
research paper, industrial publication etc.
2. Field Research (Primary
Research): Collecting information by yourself by using survey, questionnaire,
and other research tools.
3. Commercial Agency: hire
external research agency who conduct research for you.
There is another way to analysis
where our company stand for. that is SWOT analysis
S for Strength: analysis what are
our strength of our company. strength can be anything, like row material,
place, service etc.
W for Weakness: analysis where
our company not doing well compare to competitor, and how to overcome or minimize
it.
O for Opportunity: continues
searching in which area we can served. always finding new area and new uses of
product
T for Threats: time to time scan
market for new technology, substitute are eating our market. For Example, few years Mobile phone is Threat for Camera,
Walkman industry.
Competitor: competitors as
companies that satisfy the same customer need.
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