Five Reasons Why Market Research in the Philippines Counts

There is no doubt that market research in the Philippines is of great importance. However, some marketers are likely to advance deadlines instead of doing “external” research, which leads to the invisibility of consumers’ real need.

You have to pay close attention to market research in the Philippines if you intend to keep your company prosperous all the time. Because it can help you target your consumer segment and further make your brand widely known.

5 crucial reasons that market research in the Philippines should be in the first place on your to-do list.

1. Market research in the Philippines helps you concentrate on consumers.

Faced with office politics, schedules and something like that, we are unlikely to focus on markets even consumers. But it is your customers that are indispensable to the further development of your business even to the survival of your enterprise. Therefore, you need to understand them by research and have an in-depth knowledge of their real needs.

2. It makes you save time

Sometimes, we need to cope with a multitude of tasks simultaneously or have to play varieties of roles at the same time. Market research in the Philippines will give you such great information concerning customers’ need that could optimize your schedules.

3. It helps you benefit

You can find the right path to grow your business by marketing research, which always gives you instructions about the priorities.

4. It makes us keep up with consumers

As markets are always changing, you have to conduct researches concerning consumers and customers regularly so as to predict the market trend and then guide consumption.

5. It lowers your risks

You can get a lot of valuable information regarding your target market and consumers through market research in the Philippines, as could reduce your risk of failure.

Best methods to use marketing research in the Philippines

1.Enhance brand value

To the great extent, being different from competitors is every marker’s target. Marketing research can be used to find the differences between you and your rivals, to identify a feasible way to progress.

2. Position your business accurately

You can identify your target market through market research, which could present you with high efficiency. Meanwhile, it will also give you an explicit description of your target market so that you could have a better understanding of your customers.

3. Improve your method to express

The most important are that your messaging has to resonate with your consumers including the slogan, package design, website and so on. So you could use it to test whether your core message conveyed effectively. Also, you could focus your innovation efforts and evaluate your category and competition with marketing research. Obviously, marketing research is an indispensable part of your way to success. Just add it to your schedule. As for the Philippines, mining is a promising market, which regarded as a pillar industry for its ability to attract foreign investment.What is admirable is that the mineral reserve in the Philippines valued at 1.4 trillion dollars. It is predicted that mining will be one of the most prosperous industries shortly.What is more, the government is dedicating to a new financial framework, which could contribute to a sharp increase in capital.

 

 

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Selling Online in the Philippines – Opportunities and Challenges

Opportunities of selling online in the Philippines

Department store is the best place for relatives and friends to gather in the Philippines. Naturally, going shopping is an indispensable part of their lives. There are three shopping malls in the Philippines, including SM Megamall, which could be called as the largest department stores around the world. Therefore, a large number of people have turned attention to shopping online with the great development of selling online in the Philippines. There is no doubt that selling online does provide Philippine with another channel of shopping.

Challenges of selling online in the Philippines

But back to where we are, Philippines has to overcome a series of difficulties if they want to achieve a rapid progress in selling online.

  • Slow speed of the network

According to the survey conducted by ASEAN DNA in 2014, the speed of network in the Philippines is merely 3.6 Mbps, which ranked fifth from the bottom. Obviously, there is a sharp contrast here with the average speed, 12.4mbps, in South Asia region. However, the network issue seems like a perpetual problem limiting the development of varieties of industries not only selling online in the Philippines. So we have no reason to complain about the wait-and-see attitude of investors and entrepreneurs, let alone the contempt of local people for the network.

  • Lack of talents in e-commerce

    The Philippines does have a group of top talents, but the majority of them are working abroad. Because of the harsh working conditions and poor salaries, most of them have been forced to leave their own counties in the pursuit of better opportunities.

As we all know, Philippines is a country with a number of islands and islets. It is this geographical condition that makes the delivery more complicated and difficult. For instance, the velocity of logistics must be very slow on shipping and the cost could be quite expensive by air transportation.

Prospects of selling online in the Philippines

Faced with these difficulties and challenges, Philippines is developing slowly but firmly in its selling online industry. It is claimed that common citizens will have more chances to approach to the Internet with increasing population and disposable income. Besides, Philippines has a lot of experience in the operation of social media, which plays a significant role in Internet transaction. And it is a common practice that increasing brand visibility by using social websites. All in all, Philippines does have more potentials in selling online industry, but the first step may need a great effort.