The Pinoy Entrepreneur

• Surveys - Surveys makes use of structured questionnaire that is distributed to a group of respondents.  In conducting surveys your objective must be clear and the questions must be well constructed in order to point to that objective.  
• Focus Group Discussions - These discussion groups usually last for one to two hours.  It is led by a facilitator and participated by around 6 to 8 persons.  The facilitator must know what he is doing and must ask the right questions to generate discussion among the group.  This methodology is good if you want to go deep into the reasons behind why people regard a product a certain way.  After the discussion, an analysis of the insights gained must be presented.
• In-depth Interviews - Interact with one or two respondents and uncover what they think about the product.  Get their opinions, values, and personal preferences.
• Ethnography - With this approach, the researcher will have to live temporarily in the same place as his respondents.  The researcher uses this time to observe and record the respondents' behavior.  
• Product Testing - Find out how your product fares against competition before officially launching it.  You can go house to house or find areas where there is a high concentration of your target market.  This tool is very useful to find ways to differentiate your product from competition.
• Concept Testing - Test your product or service's acceptability.  Ask your makert if they would buy a product or avail of your service if it's available.  This test will tell you how different your concept is compared to existing products.
• Mystery Shopping - Go to a competitor's place of business and try their products or service.  Take note of the kind of customers they attract, the times they come in, how long they stay and the products or services they pay for.  This is a good way to study your competitors and to see the business' potential.

• Have an idea of your product or service's acceptability
• Have a grasp of your target market, its profile, and preferences
• Have an estimate of how big or small your market is
• Have an idea of the needs and wants of the market that you can satisfy
• Decide on the best entry strategy for your business
• Find a means to differentiate your product or service from what is existing
• See if you have enough resources to be in the playing field
• Check if you have a fighting chance against competition
• Find out if there would be other possible hindrances to starting your business

• Search your network - Friends, friends of friends, family friends, officemates, colleagues can be a starting point.  Don't hesitate to consult with them about your venture and see what they think.
  
• Tapping the supporting cast - They may not be your target market but some people's industry presence or exposure makes them qualified to serve as respondents.  And example is talking to a caddy if you want to be in the golf accessories business.
• Talking to former employees - You'll be surprised at how much information people are willing to share, such as day-to-day operations, sales performance, best practices, usual problems and challenges, compensation, and other issues about their former job.
• Chatting up the front liners - Sales clerk, booth people, and crew members are ideal sources of information if you want to find out how the competitors' business is faring, and what the customers think of them.

• The Internet
• Syndicated Reports - studies released by research firms like AC Nielsen.
• Industry Reports - Get insider information through regular updates and reports released by various industry associations.
• Government Agencies - go to www.gov.ph to get the links to the different government agencies.
• Academic Papers
• Annual Reports
• Publications
  

Interview with Go Negosyo Entrepreneur of the year for Tourism and owner of Callos Spa Farm and Resort, Evangeline Garcia.

She stresses the importance of word-of-mouth as a great marketing tool to keep the customers coming.  And she relates that good word-of-mouth is brought about by good service.  It doesn't have to be perfect service, providing good service is enough.