Performing market research is essential to any business, especially
if this is your first time to open a flower delivery Sydney business.
Below is a guide on how to conduct a market research effectively to
bring verifiable results on what your target customers’ interests and
buying behavior.
I – Come up with relevant questions in the area
The initial process of a quality market research is a list of possible questions that you will use during your market research. Here are sample questions:
· What is the population of your targeted area?
· How about the financial capabilities of potential customers?
· What are your targeted locations?
· Will you focus only to residential places or include local businesses?
· What type of order processing will you use? (Phone, internet or walk-in)
· Where will most of your flower stocks come?
Once you managed to get clear answers to the above questions, move to the next phase of your market research for existing competitors.
II – Competitors in the floral industry
Another crucial aspect of the flower delivery business is competition. Before you launch this type of business, it is vital that you know who will be your rivals in the area where you wish to start a flower delivery Sydney.
Use the following questions as your guide in deciding your top competitors in the marketplace.
· How many current floral delivery shops operating in your target location?
· Are they small shops or retail flower shops providing delivery services?
· What other shops fall under your competitors? (Grocery stores, flea market, farmer’s day market, supermarkets and garden shops)
· Who are their customers?
Once you gathered enough information, you are ready for the final phase of your market research survey, final analysis.
III – Analysis
Here are some of the questions that you need relevant answers in order to arrive with a final conclusion, whether you have a real chance of competing in the marketplace or none.
· Do current competitors catering the entire population of the community?
· Do you have an advantage against their offers?
· How will you compete with these rivals?
· Would you rather focus on new areas?
· Do you have add-ons for your fresh flower deliveries to attract more customers?
· How can you compete with their pricing rates?
I’m sure you have everything you need to make a wise decision on how far your vision of setting a flower delivery Sydney business will come to reality. Once you managed to fill all the right answers to these questions, your next target is a convincing business plan.
For more information please see Sherpa Sydney
I – Come up with relevant questions in the area
The initial process of a quality market research is a list of possible questions that you will use during your market research. Here are sample questions:
· What is the population of your targeted area?
· How about the financial capabilities of potential customers?
· What are your targeted locations?
· Will you focus only to residential places or include local businesses?
· What type of order processing will you use? (Phone, internet or walk-in)
· Where will most of your flower stocks come?
Once you managed to get clear answers to the above questions, move to the next phase of your market research for existing competitors.
II – Competitors in the floral industry
Another crucial aspect of the flower delivery business is competition. Before you launch this type of business, it is vital that you know who will be your rivals in the area where you wish to start a flower delivery Sydney.
Use the following questions as your guide in deciding your top competitors in the marketplace.
· How many current floral delivery shops operating in your target location?
· Are they small shops or retail flower shops providing delivery services?
· What other shops fall under your competitors? (Grocery stores, flea market, farmer’s day market, supermarkets and garden shops)
· Who are their customers?
Once you gathered enough information, you are ready for the final phase of your market research survey, final analysis.
III – Analysis
Here are some of the questions that you need relevant answers in order to arrive with a final conclusion, whether you have a real chance of competing in the marketplace or none.
· Do current competitors catering the entire population of the community?
· Do you have an advantage against their offers?
· How will you compete with these rivals?
· Would you rather focus on new areas?
· Do you have add-ons for your fresh flower deliveries to attract more customers?
· How can you compete with their pricing rates?
I’m sure you have everything you need to make a wise decision on how far your vision of setting a flower delivery Sydney business will come to reality. Once you managed to fill all the right answers to these questions, your next target is a convincing business plan.
For more information please see Sherpa Sydney
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