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> Business location demographic study.

katopunk
post Mar 4 2011, 03:24 PM


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Demographic is very important for determining the location / premise of your target business.

By meaning area demographic study, I am talking about:

1. Age
2. Income
3. Race
4. Occupation
5. Buying power

I would like to ask how do you guys put up your demographic study for a particular area with facts and statistic? Surveys?


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edyek
post Mar 4 2011, 04:30 PM


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Survey.

I once filled up a form for GIANT as they are surveying in my area in order to setup a GIANT market nearby.

RM 10 they give me after I fill up the survey form on the spot.


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katopunk
post Mar 10 2011, 07:59 AM


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edyek,

By the meaning survey, do you suggest that I put a survey at the particular area for demographic analysis? If you are, do you think the data will be significantly accurate that it will determine the type of customer and crowd?

For your information, I am not those big company. I am just thinking of a small coffee house selling sandwich.
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Ern3st
post Mar 10 2011, 11:05 AM


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QUOTE(katopunk @ Mar 4 2011, 03:24 PM)
Demographic is very important for determining the location / premise of your target business.

By meaning area demographic study, I am talking about:

1. Age
2. Income
3. Race
4. Occupation
5. Buying power

I would like to ask how do you guys put up your demographic study for a particular area with facts and statistic? Surveys?
*
There is a very important thing when conducting a survey. Most people do surveys as what they like, therefore the outcome might not be accurate. Anyway a surveys is ignoring the risk of supplier and competitor and you need more analysis from another approach.

Try Michael Porter 5 Forces/Swot Analysis

Example : http://www.businessplans.org/2mba/2mba04.html

If you yourself also dun understand how to use the outcome of analysis, i believe you will have to pray for luck when you in your business.

Hope this may help. Thanks
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edyek
post Mar 10 2011, 11:37 AM


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QUOTE(katopunk @ Mar 10 2011, 07:59 AM)
edyek,

By the meaning survey, do you suggest that I put a survey at the particular area for demographic analysis? If you are, do you think the data will be significantly accurate that it will determine the type of customer and crowd?

For your information, I am not those big company. I am just thinking of a small coffee house selling sandwich.
*
Yes, the data you required are normally done by those big companies who has money to spend on.

That's why there is no data regarding your small business in coffee house selling sandwich, because simply people don't really go to access those survey data for their small business.

All you can do is, you need to go and survey and interview those people at the neighbourhood or school or the park nearby your target business.
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