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proposed to focus on those entrepreneurs with sufficient growth potential to ensure
continuity and growth in the labour market. Not necessarily already at the start but
after a couple of years the majority of the respondents believe the business should
be able to show some growth.
5.2.5. Customer and Market research
This combined category is one of the most discussed categories (see table 5.1) and
can be divided in six sub categories that are all mentioned by the majority of the
interviewees and stand in relation to each other. These sub categories are; demand,
market research, satisfaction; marketing, competition and differentiation (see
appendix H). Three sub-categories are discussed below.
All interviewees identified market research or determining the demand of a product
as important. The interviewees strongly agree on the importance of these aspects
and express concerns that this is something underestimated by starting
entrepreneurs and often not carried out seriously. Stulen (2010) indicates this as the
most important aspect and notes; ‘the entrepreneur really needs to show that he has
thought his plan through. He needs to know what his customers want. Show that he
has done market research’.
Acknowledged is that determining the exact demand of a product can be difficult, the
respondents propose many different types of market research that can assist in
developing an estimation of the actual demand within a curtain area. Depending on
the product or service and location of the business the following widespread types of
market research are proposed for MSE:
• Internet;
• Ask people on the street;
• Conduct questionnaires (online or on the streets);
• Create interaction through platforms or forums;
• Go to peer groups;
• Mail people;
• Visit companies.
Elmar Hoogendoorn 63
Sustainable Microfinance