When my husband’s business was forced to close, naturally there was a lot of postmortem done. Everybody whether involved or not involved started voicing their views.
Though I tried to shield my husband from accusing glares, I too sided with a few who emphasized that the failure to do timely market research must be the prime cause for the business closure.
True, we did undertake a market research but the purpose was why the business was falling. Instead of gathering the market intelligence before starting the business, we did it at the fag end and paid the price for the wrong move.
Now, my husband has subscribed to the newsletter published by Synovate, a global market intelligence gathering company.
My husband showed a synopsis of the recent newsletter from Synovate where I appreciated their observation about a unique practice in Philippines where people buy things in single servings such as a single cigarette, one painkiller tablet, or even one disposable diaper.
This is an important observation and traders and distributors should never build up the inventory unnecessarily.
Synovate has more to offer to business people than just newsletters. They specialize in Advertising, brand image building, competitive market intelligence, customer segmentation and more.
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