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Market research and statistics
To run a successful business you need to know all about your potential and existing customers and the marketplace you operate in. Regularly assess who your competitors are, their strengths and weaknesses, who your customers are and what they want, and whether there are any gaps in the market.
- Researching your market
Using market research, you can understand your potential customers and their needs, as well as what your competitors are doing. - Finding government statistics
The Australian Bureau of Statistics (ABS) and various other government agencies provide a number of business or industry related statistics. - Marketing & advertising
Marketing is essential for your business survival and growth. It's such an important aspect of operating a successful business that you can't afford not to have at least a working knowledge of the various aspects of it.
