Investigating The Market - ITM
"Who is going to buy what, how, why, when and where?" - G. Macleod
As an entrant within business, you may as well look carefully towards the following points & subject for discussion, as a 'formal inquiry' and/or a search to discover facts to do with the demand for goods or so to put merchandise on sale, and to support your consumers ;
- Which person or people will get your - as an entrepreneur = merchandise by paying for it/them? Thus, being able to discover who or what they are about.
- What exactly is being sold or available for sale? Therefore, clearly stating what the 'merchandise' or a product or any kind of service is about.
- How about them sales? Considering the market and/or an opportunity of selling. And so, to create & enable the exchange of goods and/or services for the 'coins & paper notes'.
- For what reason or purpose should 'someone who uses a shop' come to purchase your merchandise or anything you - as an entrepreneur - offer as a product and/or service?
- Within which or to what place will them 'end-users & consumers' come to buy products?
Essentially, most human beings (them end-users & consumers) will only come to buy 'no more than' what they are willing to pay for, as a necessity. For that reason, as an entrepreneur, you may as well have to become thoroughly skilled within all the processes involved in moving goods from the producer toward the end-user, and/or so to serve anFy person who buys from a shop or business, especially regularly.
"Merchandising refer to the promotion of products or services by using visual impact displays"
By all means, you need to become more concerned with them 'end-users' - your audience & consumers as an entrepreneur - when compared to the 'process of making' merchandise.
And so, being more concerned about your products and/or service can be a reference that 'someone who produces' "thinks" that the merchandise is suitable for them end-users😐.
Moreover, as "someone involved in trade", you may as well become more able to move 'quickly and easily', thus being 'ready to act' on any defined purpose or stated intention, as a set of ideas that work together in 'an effective way' and/or 'producing what you want', as a merchant.
As a result, you stand a great chance to become better towards giving them (end-users) exactly what they need or want. In that way, you also are meeting the demand - as a beginning point - because of them (consumers) so to satisfy their necessities and supporting their objectives.
Market Share Capital
"Market research companies, too, are excellent sources, and would give advice, possibly for a small fee, or refer you to the most appropriate publication for your specific needs"
Firstly, it is easy to understand and not that complicated to discover or come to find the study of information that is expressed as numbers (statistics) and/or the branch of mathematics dealing with the collection, analysis and presentation connected with any job of authority or, to establish trust within a place where things (products & services) are bought & sold for a value. Also, considering a complete space or building in which the market (exchange of goods) is being held and the chance to sell or buy.
In addition, as an entrepreneur, you may as well 'come to think' of any group of people and/or things (any kind of service or special products) that work together, as they are made available within most 'public notifications'; through printing and/or distribution of books, magazines, newspapers, radio & television or any of the weekly periodicals.
For instances, 'items of information' coming from/of the Department of Statistics as well as within the business of 'buying or selling merchandise' or exchange of foreign currencies. And so, to do with making or producing goods to sell, especially within a factory (any large building where machines are utilized so to make more goods).
As an extra, those 'statistics' put out within a place where people go to study for 'degrees' after they have left school. For instance, learning the UNISA Bureau of Market Research.
Thus, any institution of higher education which confers 'bachelors and higher degrees' and/or within the place where books are kept for people to use or borrow.
For that reason these 'sources of help', in most instances, let small enterprises and large organizations in Membership 'being a member'; as the numbers of members of a body, also to pay money so to receive the 'study of information' regularly and/or become a member of a club or society, concerning them 'statistics'.
On condition that you (as an entrant in business) are making a product or any idea made available for the first time, it is most essential to become aware of the 'demand for goods' or simply DFG, which will determine the size or amount money (them 'coins & paper notes') that 'someone' earns and also the 'freedom' to use these coins & notes. As a result, you become more efficient & effective within the process of moving goods from the producer to the user.
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