MARKET STUDY
Introduction
In order to be successful in doing business whether it will engage in manufacturing a product or deal with service. To do this, the business must utilize its practice of personalizing its services which is currently a peak in different target customers. Part of the study also is to have unique strategies in sales negotiation with target customers. The study of market will help identify who will be the customers, how to deal business with them wherein they will meet the expectations of the said targets. It is where Market Study plays an important role in every plan.
2.1MARKET STUDY
Company is located around Valenzuela City wherein near to the Municipality and BIR. The market focuses on Sole Proprietorship, Partnership and Corporation businesses who want to develop their business for more profits with fewer problems and also those who will engage in putting up a business all around Valenzuela and within Metro Manila. The company also will target outside Manila given that we are trying also to market our services for the purpose of having our name in the market that will help us get more customers because of our affordable fees yet with the assurance of having the quality standard of services dealing with advance software and processes.
2.2 OBJECTIVE OF THE STUDY
To study the needs, wants and expectations of consumers.
To provide services with adequate information wherein it will help our customers not only in Valenzuela but also some places herein Metro Manila with their business problems with regards to financial.
To know its competitors techniques in dealing with their clients and so the market needs within the targets locations.
To find out methods for making the services of the company popular and raising its goodwill and market reputation.
To determine the dimensions of the marketing problems, facilitate evaluation of the alternative solutions of different problems and help in the selection of a right course of action.
To develop business through promotions.
To adjudicate the demand and supply for the services offered.
To improve the quality services with low cost.
To ascertain that the study will be feasible within the next succeeding years.
SWOT Analysis
Strength
The products of the propose business are services in terms of financial growth of every business which is now a days in demand in our country. The business provides 24/7 security for its clients.
The location is near at BIR and the Municipality of City and to its target market that may secure the main office of the business and lessen the transportation cost that will be incurred in every transaction.
The price of services of the proposed business is affordable.
The proposed business is a General Professional Partnership which is not subject to income tax, which may lead to higher income. The business also conducts tutorial trainings and seminars in tax compliance and accounting software which is affordable and attracts its customers. It will also conduct tutorial classes for Business Administration students for us to earned more at the same time share our knowledge.
The proposed business is much more automated and updated to its competitor in terms of practice and services render.
Weaknesses
The said accounting firm is not accredited to have trainings and seminars from the Philippine Institute of Certified Public Accountants (PICPA).
Limited services offered
Not highly oriented with the software
Weak brand name
Highly seasonal nature of work
Limitation of market opportunity due to audit
Difficulty in retaining aggressive non-partner CPAs, as they move to smaller firms that will make them partners sooner.
Opportunities
Unfulfilled customer needs
Arrival of new technologies
Opportunity to view business development as a process
Find new ways to compete for business and win
Benefiting for the on-going increase in population within Valenzuela area.
Threats
Increased competition from sole