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Consequences of not doing market research

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論壇元老

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發表於 2022-6-27 13:59:01 | 顯示全部樓層 |閱讀模式
本帖最後由 thermostat 於 2022-6-27 16:29 編輯

Consequences of not doing market research

I saw a new restaurant called XXX opened in Ap Lei Chau Estate. The decoration is very Japanese. It should open in May 2022.
They should be very confident in their brand and product, either without doing market research, or doing market research but not providing proper advice.
In a public housing estate, a lunch sells for $70 to 80, how can they survive? Where does the confidence come from?
It is not a must to do market research, but this price in a housing estate is really too idealistic.

Today, I notice the restaurant has changed its strategy, and the restaurant is still in existence. It no longer sells the Japanese lunches it used to be, and resells the Cantonese dishes that Hong Kong people like and are used to. The price has been adjusted to $48. To survive, we must face the reality.
In fact, the price of $48 is still expensive, because Ap Lei Chau Estate is not a rich public housing, and many residents are elderly. Moreover, there are the famous chain stores Dor Man and Tong Kee, which sell a rice set with dishes at $25. Besides, this area is not Causeway Bay, there are not many people from outside.
I really admire the company/group that opened the store with such a strategy, and I will take a look at their background later.
/06 2022

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