Demographic aspects: The missing source of business opportunites

Type Journal Article
Title Demographic aspects: The missing source of business opportunites
Author(s)
Publication (Day/Month/Year)
URL http://arisbudi.staff.gunadarma.ac.id/Publications/files/1838/Demography+Aspect.pdf
Abstract
One-key success in the business is the ability of entrepreneurs to find and explore the existing potential opportunities. For small and medium business, this will become increasingly important due to various limitations. Such business scale needs to be able to compete with large-scale business, regarding several possible advantages of niche and market potentials. Demographic aspects, that reflects various profiles of consumers, should be considered by small and medium enterprises (SMEs) to produce and sell their products and services. However, the various opportunities that
are reflected in the demographic profile have not been widely used by this businesses. Many opportunities and business strategies are not properly applied in SMEs. This paper shows how the demographic profiles in Depok, West Java, can be a source of information on business opportunities and as a basis for determining the business strategy to improve the marketing performance of SMEs. The study was conducted by using secondary data from Depok during 2008 publications. Analysis was performed by descriptive and map potential opportunities based on Depok demographic profiles. The result shows that the demographic profiles, such as distribution of population by region, gender composition, income distribution, composition and distribution of education level, the types of work distribution, and other demographic profiles, can be used as significant information on business opportunities. By using this various information, SMEs can determine what products should be manufactured and marketed, which segments should be targeted, what price should the goods and services provided, and many other marketing strategies. Thus, the utilization of alternative demographic profiles can be an important information to improve the marketing performance of SMEs especially in Depok. Therefore, SMEs can compete with any other business-scale.

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