Components of a Good Company Profile

1. Welcome Towww.decisiondatabases.com

2. Introduction toMarket Research

3. Marketing Research Defined The systematic and objective process of generating information for aid in making marketing decisions.

4. The Marketing Research Process • Define the Problem • Develop an Approach to the Problem • Type of Study? Exploratory, Descriptive, Causal? • Mgmt & Research Questions, Hypotheses • Formulate a Research Design • Methodology • Questionnaire Design • Fieldwork • Prepare & Analyze the Data • Prepare & Present the Report

5. Marketing Research Types Basic research Applied research

6. Basic Research • Attempts to expand the limits of knowledge • Not directly involved in the solution to a pragmatic problem

7. Applied Research • Conducted when a decision must be made about a specific real-life problem

8. Using Marketing Research • We can use Marketing Research to: • Identify & Evaluate Opportunities • Analyze Market Segments • Select Target Markets • Plan & Implement Marketing Mixes • Analyze Marketing Performance • Performance Monitoring Research

9. Determining When to Conduct Marketing Research Time Constraints Availability of Data Nature of the Decision Benefits vs. Costs Is sufficient time available? Information already on hand inadequate? Is the decision of strategic or tactical importance? Does the information value exceed the research cost? Conduct Marketing Research Yes Yes Yes Yes No No No No Do Not Conduct Marketing Research

10. ALWAYS Remember • Marketing Research is a tool. • It assists marketing managers in their decision making. • IT IS NOT A REPLACEMENT FOR MANAGERIAL JUDGEMENT!!

11. Competitive Analysis

12. Industry and Competitive Analysis • What are the boundaries of the industry? 2. What is the structure of the industry? Questions involved 3. Which firms are our competitors? 4. What are the major determinants of competition?

13. Why a Definition of Industry Boundaries is Important? • Helps executives determine arena in which their firm competes • Focuses attention on firm’s competitors • Helps executives determine key factors for success • Gives executives another basis on which to evaluate their firm’s goals

14. Sources of Difficulty in DefiningIndustry Boundaries Evolution of industries over time creates new opportunities and threats Industry evolution creates industries within industries Industries are becoming global in scope

15. Issues in Defining an Industry • What part of the industry corresponds to our firm’s goals? • What are the key ingredients of success in that part of the industry? • Does our firm have the skills needed to compete in that part of the industry? • Will the skills enable us to seize emerging opportunities and deal with future threats? • Is our definition of the industry flexible enough to allow necessary adjustments to our business concept as the industry grows?

16. Characteristics of Industry Structure • Structural attributes– Enduring characteristics giving an industry its distinctive character • Variations among industries involves examining • Concentration– Extent to which industry sales are dominated by only a few firms • Economies of Scale– Savings firms within an industry achieve due to increased volume • Product Differentiation– Extent to which customers perceive products of firms in industry as different • Barriers to Entry– Obstacles a firm must overcome to enter an industry

17. Variables in Identifying Competitors • How do other firms define the scope of their market? • The more similar the definitions of firms, the more likely the firms will view each other as competitors • How similar are the benefits the customers derive from the products and services other firms offer? • The more similar the benefits, the higher the level of substitutability between them • How committed are other firms to the industry? • To size up commitment of potential competitors to industry, reliable intelligence data are needed concerning potential resource commitments

18. Common Mistakes in IdentifyingCompetitors • Overemphasizing current and known competitors while ignoring potential entrants • Overemphasizing large competitors while ignoring small ones • Overlooking potential international competitors • Assuming competitors will continue to behave in same way

19. Forces Driving Industry Competition New Entrants Threat of new entrants Bargaining power of suppliers Bargaining power of buyers Industry Competitors Suppliers Buyers Rivalry Among Existing Firms Threat of substitute products or services Substitutes

20. Conducting an Industry Analysis

21. Seven Questions for Industry Analysis 1. What are the industry dominant economic traits? 2. What competitive forces are at work in the industry and how strong are they? 3. What are the forces of change in the industry and what impact will they have? 4. Which companies are in the strongest/weakest competitive position? 5. Who’s likely to make what competitive moves next? 6. What key factors will determine success or failure? 7. How attractive is the industry in terms of its prospects for above average profitability?

22. Q1. What are the industry dominant economic traits? • Market size (Small markets don’t attract big fish) • Scope of competitive rivalry • Market/industry growth rate (life cycle) • Fast growth breeds new entry; slowdowns lead to increased competition. • Number of rivals and their size • Number of buyers and their size • Level of backward and forward integration • Technological change (rate and scope) • Level of differentiation between firms’ products • Opportunities for economies of scale • Ease of entry and exit • Capital requirements

23. Porter’s Five Forces. Forces influencing industry and competitive advantage: Competitive Intensity (Rivalry Among Sellers) Barriers to Entry (Potential for New Entrants) Bargaining Power of Suppliers Bargaining Power of Customers Threat of Substitute Products Q2. What competitive forces are at work in the industry and how strong are they? pg. 33 in Applegate

24. The most dominant forces the cause the industry to change are called driving forces Task 1 - identify the driving forces Task 2 - assessing their impact on the industry (few are important, generally) Common Driving Forces Changes in long term industry growth rate Changes in who buy the products and for what reason Product innovation Technological change Marketing innovation Increasing globalization Regulatory changes Changing societal concerns, attitudes and lifestyles Q3. What are the forces of change in the industry and what impact will they have? Environmental scanning

25. Q4. Which companies are in the strongest/weakest competitive position? • Using the strategic group mapping: two dimensional representation according to the competitive characteristics of the competitors in the industry • Axes should not be correlated • Size of circles proportional to combined sales • The closer the circles, the stronger the rivalry Competitive characteristics Product line/merchandise mix

26. In order to outmaneuver your competition you have to evaluate the competitors’ future moves. Identify competitors strategies Evaluate who are the major players-- now Who will be the major players Evaluate what the major players are going to do Q5. Who’s likely to make what competitive moves next?

27. Q6.What key factors will determine success or failure? • Key success factors (KSF) are crucial elements that lead to success. • What are they now? What will they be? • In beer production KSF can be brewing skills • In retail apparel KSF can be low cost, superior service, superior design • In your industry, KSF=????

28. Q7. How attractive is the industry in terms of its prospects for above average profitability? • Growth potential • Driving forces • Entry/exit • Stability of demand • Competitive forces • Risk and uncertainty • Competition and its impact on the industry’s future

29. Market Reports

30. Effective Writing • Clear, concise, direct • Thoughts are complete • Attention given to details such as grammar, spelling • Flow of thoughts

31. Quantitative Research Reporting • Recall, the opening sections of the proposal should be the foundation of the section introduction • Background • Research Problem (w/ research concepts) • Methodology & Procedure • Sample frame • Research Instruments

32. Reporting The Findings • Frame a percentages and proportions in absolute numerical terms “Sixty percent (n= 18) of the sample either strongly agreed or agreed with the statement that the holiday season tends to cause a great deal of anxiety.”

33. The Use of Data In Reports • Tables should support discussion points “Third quarter performance peaked dramatically in the East relative to the West and North. Overall brand performance remained stagnant from region to region in the first, second, and fourth quarters.”

34. Discussion & Interpretation • Revisit the Research Problem Statement • Organize discussion around concepts of interest, research concepts • Don’t just spout numbers; tell the story behind the data • Highlight, topline, and synthesize information

35. The Conclusion & Recommendations • Make proactive recommendations for marketing the product based on the evidence uncovered in research • Look for opportunities to appeal to the target market • Are there benefits that should be addressed? • Are there attributes that have unique appeal?

36. Appendix References • Cite Exhibit tables in a separate appendix section • Each table labeled with a numerical identifier • Columns are clearly labeled • Reminder: SPSS printouts should be not be bound with the report

37. The Use of Data In Reports • Bar charts are appropriate for category comparisons • Pie charts visually represent portions of the whole

38. Company Profile

39. Business Information • Business Name: XYZ Corporation • Business Address: 153 ABC Street, Miami, USA • Email: Info@xyz.com • Tel: 666-777-8888

40. General Business Activities XYZ Corporation has been established as a Web development company in North America. Our traditional business model is based on the accomplishment of projects of web designing. The revenues of our company are expected to be nearly US$50,000 per month. 

41. Company Strategy • Purpose • Vision • Mission statement • Core values • Goals

42. Scope of Work XYZ Corporation conducts Web designing as well as web development. The company undertakes all duties for designing an eye catching website and conducts all the security checks for payment gateway integrations.

43. Financial Considerations The company expects to reach the desired profits in the first year and does not anticipate serious cash flow problems. We have current borrowing from the Bank of America to be paid off in 2 years. Most of the company’s liabilities come from management investment.

44. Expected Activities of General Bank Account Initial Deposit of US$1000 by Bank of Toronto Official check was made. Then wire funds of nearly US$300,000 from securities account were made. To prove the origin of funds, account documentation will be provided. Required Banking Services include savings account, checking account, online banking, and secured credit card.

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