Store Operation Manual
Pharmacies
Pharmacies are shops that sell medicines, medical supplies, and similar products.
1 Establishment Stage
Market study and planning
Objectives of Market Study and Planning
The study and planning aim to improve the product or service based on findings regarding customer needs.
It helps you determine the price based on common profit margins, competitor prices, or the price the customer is willing to pay.
The study and planning identify the most suitable geographic location for your project.
Types of Market Study and Planning
Market Surveys
These help you identify important information through the following points:
- Facts about the target market
- Demand for your product or service
- Understanding potential pricing
- Perception of competition
- Impressions about your brand
The Five Competitive Forces
There are five fundamental competitive forces that shape any industry: the power of suppliers, the intensity of rivalry, the bargaining power of customers, the threat of substitute products, and the threat of new entrants. These forces assist in making specific decisions regarding entering an industry, increasing capabilities within a particular activity, or developing competitive strategies.
SWOT Analysis
SWOT analysis is a method for analyzing the internal strengths and weaknesses of a company, as well as the external opportunities and threats in the market, to identify areas that need to be developed and strengthened to avoid future risks.
.svg.png){kind=logo}
Comments and Inquiries
Add comment