Suzi's Vetkoek
Suzi wants to sell vetkoek on Sundays at the local market. About 1 880 people visit the market every Sunday. Each person spends about R16.50 per day with 20% of this amount being spent on food. Although there are other food stalls at the market, Suzi is sure that she can attract at least 5% of market share to start with.
The following calculation gives the potential rand value of this market share:
Number of consumers 1 880
Average spending per day R16.50
Total spending of consumers per day R31 020.00
Percentage spent on food 20%
Potential rand value R6 204.00
Suzi's percentage of market share 5%
Rand value of Suzi's market share R310.20
The rand value of Suzi's sales comes to R310.20 per day. This is Suzi's turnover, …show more content…
Some ways of collecting primary data is by interviews, your own experience, studying, doing surveys and observation studies.
The information you collected about ideas for business opportunities is an example of primary data. Methods of collecting primary data
Surveys
Surveys involve getting information from specific people by using direct questioning or by using indirect questioning through a questionnaire.
Questions deal with the following factors:
• Facts - For example, "Where do you live?"
• Opinions - For example, "Which butter do you prefer?"
• Motives - For example, "Why do you go to Maputo every year for your holiday?"
The questionnaire is the most frequently used method to collect primary data. Questionnaires are a more detailed and structured way of collecting information, but are more difficult to design and costlier.
There are various ways to contact people for a research survey. Telephone surveys
Telephone surveys are used when the question time with respondents (the people being interviewed, the people answering or responding to the questions) is short, little time is available to do the survey, and there is not much money available for the …show more content…
One of the reasons being that most respondents do not like giving their opinions directly to an interviewer. It also enables you to interview people over a wide geographical area. Another advantage is that there is no pressure on the respondent to answer quickly giving them more time to think about their answers. Also, the contact person or interviewer cannot influence the respondents' opinions. When using postal surveys, it is important to give clear instructions. It is also a good idea to offer incentives (something to motivate people to reply such as a prize or a competition) to encourage people to send back their responses quickly because two of the problems of postal surveys are that you get only a few replies, and those replies come in very slowly.
Personal surveys
This method uses a face-to-face contact situation. The advantages are that more questions can be asked and answered, and if the respondent gives permission, you can use a tape recorder. If, during a personal survey, you interview people at a shopping centre, you may be able to design a simple questionnaire that you can use to conduct the interviews yourself. It should give you some information about your potential customers' needs.
Example of a questionnaire for a take-away
Suzi wants to sell vetkoek on Sundays at the local market. About 1 880 people visit the market every Sunday. Each person spends about R16.50 per day with 20% of this amount being spent on food. Although there are other food stalls at the market, Suzi is sure that she can attract at least 5% of market share to start with.
The following calculation gives the potential rand value of this market share:
Number of consumers 1 880
Average spending per day R16.50
Total spending of consumers per day R31 020.00
Percentage spent on food 20%
Potential rand value R6 204.00
Suzi's percentage of market share 5%
Rand value of Suzi's market share R310.20
The rand value of Suzi's sales comes to R310.20 per day. This is Suzi's turnover, …show more content…
Some ways of collecting primary data is by interviews, your own experience, studying, doing surveys and observation studies.
The information you collected about ideas for business opportunities is an example of primary data. Methods of collecting primary data
Surveys
Surveys involve getting information from specific people by using direct questioning or by using indirect questioning through a questionnaire.
Questions deal with the following factors:
• Facts - For example, "Where do you live?"
• Opinions - For example, "Which butter do you prefer?"
• Motives - For example, "Why do you go to Maputo every year for your holiday?"
The questionnaire is the most frequently used method to collect primary data. Questionnaires are a more detailed and structured way of collecting information, but are more difficult to design and costlier.
There are various ways to contact people for a research survey. Telephone surveys
Telephone surveys are used when the question time with respondents (the people being interviewed, the people answering or responding to the questions) is short, little time is available to do the survey, and there is not much money available for the …show more content…
One of the reasons being that most respondents do not like giving their opinions directly to an interviewer. It also enables you to interview people over a wide geographical area. Another advantage is that there is no pressure on the respondent to answer quickly giving them more time to think about their answers. Also, the contact person or interviewer cannot influence the respondents' opinions. When using postal surveys, it is important to give clear instructions. It is also a good idea to offer incentives (something to motivate people to reply such as a prize or a competition) to encourage people to send back their responses quickly because two of the problems of postal surveys are that you get only a few replies, and those replies come in very slowly.
Personal surveys
This method uses a face-to-face contact situation. The advantages are that more questions can be asked and answered, and if the respondent gives permission, you can use a tape recorder. If, during a personal survey, you interview people at a shopping centre, you may be able to design a simple questionnaire that you can use to conduct the interviews yourself. It should give you some information about your potential customers' needs.
Example of a questionnaire for a take-away