Monthly Archives: July 2019

Market Research

If you want to start and run a successful business, you need to know all about your potential and existing customers, as well as the marketplace you want to operate in. This is why it is important for every new and existing business to conduct market research.

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Market Research

Market research helps you understand your market and the needs of your customers. It is a critical component when you’re launching a product, trying to improve your existing service or when you’re just looking to be a step ahead of your competitors. It will provide you with all the information you need to make a better business decision.

The customers are the ones who will buy your products and services. With good market research, you will be able to map out the full profile of your ideal customer. And by being able to know them, you can determine the market size and what triggers them to buy. You’ll gain valuable insights like their age, location, gender & income, which will help you in creating effectively tailored marketing and pricing campaigns.

Another benefit of having market research is that you can have knowledge about your competitors and their strategies used in approaching the market. Keep in mind that they are the ones taking away your customers from you. That is why you need to determine who the top performers in the marketplace are and know their strengths and weaknesses – they can help you which strengths to replicate and which gaps you can utilise to gain more customers.

Market research can have a great contribution to your business’ growth. It helps you comprehend the demands of your customers, detect more business opportunities, plan the perfect marketing campaign, minimise losses, and keep track of the competition. You can also classify your objectives while following the current trends and take advantage of reaching out to your target audience.

Read more at https://www.business.gov.au/Marketing/Marketing-research

Ganging up on workplace bullying

If one of your employees feels that he or she is being bullied at work, he needs your support. Workplace bullying can be in a form of physical, verbal, psychological or social abuse by the employer, manager or another person or group of individuals at work.

Workplace bullying

No matter what type of workplace or business you are in, workplace bullying can occur. From offices to shops, cafes, restaurants, workshops, community groups and government organisations, anyone can be a victim of workplace bullying. It can also happen to volunteers, work experience students, interns, apprentices, casual and permanent employees.

Workplace bullying is a problem that can cost workers their jobs, and it can cost companies through employee stress, productivity loss and lawsuits, to name a few

As the leader, manager, or owner, there are definite steps you can take to proactively address bullying. However, if a workplace issue involves a problem of illegal activity, violence and threats, sexual harassment, worker/customer safety, or other issues with legal ramifications, this is not something to try and handle on your own. It is better to ask for some help from your legal department.

First of all, you need to know what bullying is. You also need to know the forms of workplace bullying so that you’ll know how to take necessary actions to combat such a problem.  In most cases, bullies will find ways to make their victim’s job harder than it has to be and finding ways to prevent their victims from succeeding. These bullies push their victims out of important projects or calls so they can take credit for your work or ideas.

Whenever you notice bullying in your workplace, you need to address the issue as soon as it happens. You need to be vocal and have a script developed on how to communicate with the bullies.

For more on this subject, click here: https://www.watoday.com.au/business/small-business/ganging-up-on-workplace-bullying-20190711-p5268a.html