Australian Market Research Company

Paper Summary:

This paper describes the author's plan to open a market research consultancy in Brisbane, named "Market Ideas", specializing in qualitative research and trends. The author reports the market research, which he conducted on his own market potential area of Brisbane. His possible competition targets big companies; therefore, he believes that his objective to serve small companies is viable. The paper indicates that the author is concerned about borrowing $20,000 from a bank because, as a sole trader form of business, banks are reluctant to loan that amount of money.

Table of Contents:
Table of Contents
Introduction
Business Objectives
Requirements to Succeed in your Business
Skills
Business Success
Competitive Advantage
Entrepreneurship
SWOT Analysis and Action Plan
Viability
Financial and Legal Viability
Marketing Viability
Services
Price
Place
Promotion
Target Markets
Operational Viability
Business Operation
Plant and Equipment
Business Structure
Tax Requirements and Insurances
Conclusion

From the Paper:

"My market research consultancy would target at small businesses. It is a direct distribution, in business to business sector.
"After studying the competitors in various areas and growth rates of property and business services sector which my business is into, Queensland, and particularly Brisbane seems to be the best place to set up my company. My business area would be Queensland, with a main target in Brisbane. This is the reason why I would find an office in the city suburbs, to avoid a high price rent comparing to the CBD, but close enough of the businesses I would work for."

Sample of Sources Used:

• Australian Bureau of Statistics, "Gross State Product using the Production Approach GSP (P), 2007 [5220.0.55.002], Page 80
• Australian Bureau of Statistics, "Market Research Services", 8556.0, 2001-2002
• Report from CPA Australia Small Business survey 2008 Financial management of small businessAugust 2008
• Report from WorkCover in Queensland Understanding your workers' compensation accident and insurance policy A guide to your policy cover and conditionsJuly 2008
• AFP Article "Australia business conditions at 17-year low, recession looms"March the 10th

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