The struggle of a government can be ease with the help of businesses. The more the success in business the more the expansion of the business. in a situation where report that are coming out is pointing that 75% percent of startup fail before reaching five years is alarming. Normally Not because these businesses are not intelligent in doing business. Many a time it boils down to our motive and planning to enter business. If the right intension is been set we will definitely plan the way we enter into it. The success of a business is mainly base on planning. the situation around us today is that because Mr. Phillips has open a small business and he is getting returns from it you will see jack with is dark vision as well rushing to set up the same business because he has the finance. As the saying goes when you fail to plan you are planning to fail. Following are the things missing for so many startups.
Marketing research: marketing research is the process or set of processes that links the producers, customers, and end users to the marketer through information used to identify and define marketing opportunities and problems. Marketing research is essential to the wellbeing of a successful business establishment, if we want to have a perfect control of what we are about to do firstly we must take the chance to do a proper marketing research before enter like cow. A well-grounded marketing research will expose the flaws of the current situation of the market, from which you will be able to evaluate the situation of the present marketing standing and make firm decisions.
PRODUCT RESEARCH: product research is essential . It doesn’t make sense to enter into business without knowing the people that are interested in your products; you should know whether your customers would love what you offer. because you cannot go in for product that you yourself don’t like. As a business person do a proper check to at least know certain percentage of people that will be interested in what you offer. Benefit of what you offer benefit of what you offer also should be seen to the customers.
To be continue…