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Blog, Business & Economy, Hospitality & Tourism 13 Comments

THE IMPORTANCE OF MARKET RESEARCH FOR SMALL BUSINESSES IN SINGAPORE

market-research-for-small-business-in-singapore

Table of Contents Introduction to Market Research For Small Business MARKET RESEARCH FOR SMALL BUSINESSES IN SINGAPORE Helps To Identify Customer Needs And Preferences Provides insights into the competition Helps to make informed decisions Helps to identify new opportunities Required Steps for Conducting Effective Market Research Define the Research Objectives Identify the Target Market Choose the Research Methodology Collect Data Analyze the Data Draw Conclusions and Make Recommendations INTRODUCTION Singapore is the world’s 4th biggest financial centre and one of…

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BUSINESS GROWTH STRATEGY CONSULTING

The structural evolution induced by new technology, dynamic demands of the customer, and sector integration, entities are pursuing aggressive business growth strategy consulting. Creating an effective growth plan helps to align both immediate and long-term firm goals, offering a road map to more efficient operations and revenues. The application of advanced data analytics to get a deeper understanding of end-user procurement patterns and emerging product preferences along with increased mobility across functions, would assist businesses in discovering and sharing ideas…

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Blog, Business & Economy, Consumer Research, Feasibility Study, Hospitality & Tourism, Market Research 13 Comments

Brand Assessment

6 Steps To Perform A Brand Assessment Through Research Brand assessment is an important and necessary step in every business venture. Doing a brand assessment gives you the chance to examine your brand’s strength, emphasise its value to clients, and, if necessary, reposition your brand to reflect changes in the market. It also helps a company reassert its goals and values so you can focus on why your brand stands out and how you can capitalise on that. But how…

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Services for Singapore Business Plan Consultants

Overview of Business Plan Consultant Services in Singapore Every enterprise or business needs a professionally created business plan to achieve its objectives and goals. This is true for multinational businesses as well as local startups. Business plan consulting services in Singapore are focused on providing this strategic advice to a wide range of businesses and enterprises. Business plan consulting services involve third parties providing strategic advice depending on factors that impact the business. Singapore business plan consulting services will also…

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How to Find the Best Business Consulting Firm in Singapore?

Consulting firms can support a company’s needs at any level to eliminate challenges, grow the business, and position themselves effectively in a competitive market. A business consulting firm in Singapore has expertise in many areas. Therefore, businesses can leverage the firm’s services to acquire the knowledge they need to make their companies better, boost organizational productivity, and improve bottom-line KPIs. A small business, in particular, might require occasional expert advice on certain topics and strategies. In such scenarios, hiring a…

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Blog, Business & Economy, Market Research

5 Tips For Strong Market Expansion Strategy

To stop your business from attaining a saturation point, it is important to make sure you have a strong market expansion strategy to move your business forward. A market expansion strategy is all about knowing the needs of your consumers, segments, and unmet customers to device a targeting plan. Any company may decide to expand, either looking for new market niches in existing countries or seeking new markets for market segments already identified and addressed. Even if the expansion strategy…

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Blog, Business & Economy, Feasibility Study

Overview on Feasibility Study & Its Importance

Overview on Feasibility Study & Its Importance

Overview on Feasibility Study & Its Importance Feasibility Study Feasibility studies are important because they can assist in the formation of business plans and cross-functional assignments.  Market Feasibility Study determines the depth and condition of a particular market and its ability to support a particular development. The main objective of a market feasibility study is to understand the market to determine if enough demand exists to make the venture successful. A feasibility study is conducted in order to examine if the…

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Blog, Business & Economy

Importance of Drafting a Business Plan

Importance of Drafting a Business Plan

Importance of Drafting a Business Plan A business plan is critical for any new business venture, but is often neglected as the Entrepreneurs do not completely understand the depth of the benefits that they provide. Some of the major advantages that a business plan could provide are listed below Clear Objectives The business plan can be used to specify and manage measurable objectives such as sales, website visitors, new product launches, consumer reviews etc. This can be used to define…

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Blog, Business & Economy, Market Research

Importance of Conducting Market Research in Singapore

Importance of Conducting Market Research in Singapore

Importance of Conducting Market Research in Singapore Market research is a critical step that involves collection and analysis of data about the target market, product/service demand, competition and the environment in which the business is setup. These information that are gathered through the research provide valuable insights which are critical for taking strategic business decisions. A report published by Forbes suggested that approximately around 90% of the startups fail within a year from of starting their operation. On doing a…