Background of study

Planning and implementing a growth strategy to develop new markets and expand a

business before the current market flattens out will not only help a business survive in two

times, it could also give a considerable edge. Business often seek to provide value for their

consumers by offering goods or services that address their requirements and problems ,while

producing income and profits for the company’s owners or shareholders. Working a

leadership position or business development role ,it is important to understand the different

ways owners can support the continuous growth and success of the company. Expanding into

new markets helps business adapt to changing consumer needs and industry trends.

Understanding how to expand a business into a new market allows the owner to enhance their

employability and contribute to beneficial changes in the company.

All successful or startups ultimately face the problem of managing business expansion

or development. Business expansion is a phase of a business’s life ,which is fraught with

perils and opportunities, and if not managed properly, the expansion can spell doom for a

struggling business. It is important for a business owner to be able to know what is business

expansion and how the business owner can go about it in order to maximize the chances of

succeeding . Business owner should be knowledgeable about the key factors that drive

expansion and be able to implement sound business strategies. The process of expanding a

business involves careful planning, business analysis and the use of financial resources. To

expand a business, it would be first develop a well-defined vision, mission and business plan.

( Verde, 2021)

1
 Achieve a certain level of success as a company leader, may start to think about the

benefits of expanding into new markets. The expansion of business is something all good

entrepreneurs aspire to and early success often fuels dreams of growth. But the expansion of

business isn’t something to take on without a careful understanding of the pitfalls of growing

too fast (Quain,2018). Knowing how to expand a business is crucial to sustaining the business

success and financial well-being. Fail to grow and adapt business, the risk being left behind

as the market changes or having a competitor cannibalize the business. It also means putting

in additional work, possibly hiring more employees and getting funding to cover the

increased cost. (Lesonsky, 2023).

Guideline refers to the data prepared for people or staff to know how something to be

performed or what something is. According to (Shekoohi,2020) it is better that the sequence

of preparing and presenting the mentioned official documents for a business or an

organization starts with guidelines. The teams or groups engaged in preparing the guidelines

need to know and understand the proposed services or task properly in order to create a rich

document helping the target user of the guidelines. The guidelines will help preparing

policies and processes. A reach and well develop guidelines will ease preparing and

generating other coming official documents such as policies, processes and etc. There should

be guidelines for each main task or business process like Asset Management, Maintenance

Management, Inventory Management, Disposals, purchase requests, and change Management

etc.

When working in a leadership position or business development role ,it’s important to

understand the different ways that can support the continued growth and success of the

company. Expanding into new markets help businesses adapt to changing consumer needs

and industry trends. Understanding how to expand a business into a new market, allows to

2
enhance the employability and contribute to beneficial changes at the company (Indeed

Editorial Team, 2023). A business plan is a document that contains the operation and

financial of a business, and details how its objective will be achieved. It serves as road map

for the business and can be used when pitching investors or financial institutions for depth or

equity financing (CFI Team,2023).Thus, this study paper is undertaken to identify the

strategies of expanding a business to make a guideline for showing an outcome in choosing

the ideal market.

Statement of the problem

This study will focus on the guidelines for choosing the ideal market and how to

expand a business.

Specially, it will seek to answer the following questions.

1. Why do business need to set an ideal market?

2. What are the guidelines for expanding a business?

3. How do guidelines for choosing the ideal market help in expanding a business?

Research Objectives

This study will aim to discover the business expansion and its guidelines for choosing

the ideal market.

1.define the importance of business to set an ideal market.

2.determine the guidelines of business expansion.

3
3.define the guidelines for choosing the ideal market help to expand a business.

Theoretical Framework

Peter’s Drucker’s theory revolutionized the approach to business management by

suggesting that successful leaders should put people and ethics first rather than focusing

entirely on profits and rigid rules and work structures. The pillars of Drucker’s theory of

management are decentralization, prioritization of knowledge work, management by

objectives, and smart goals. Drucker’s theory of management and the origins of CSR

Corporate Social Responsibility is a type of business self-regulation to be socially

accountable and contribute to the well-being of communities and society as a whole. Small

business can implement (CSR) in a variety of ways ,including being environmentally

conscious, establishing a comprehensive diversity, equity and inclusion policy in the

workplace, training employees with respect, introducing volunteering and charitable

initiatives and ensuring ethical business decisions (Drucker,1994).

The marketing concept theory (Philip Kotler,2000) is a business philosophy that

suggested that businesses should focus on identifying and meeting the needs of the target

customers in order to achieve the goals and objectives. Businesses must understand the needs

and references of the target customers and develop products, services and marketing

strategies that are specifically tailored to meet the needs in a company. Requires the

identification of an idea market a specific group of customer that are most likely to be

interested in a company’s products or services. Targeting an ideal market a businesses can

4
achieve several benefits , including increased efficiency and effectiveness in its marketing

efforts ,greater customer satisfaction and loyalty, and higher level of profitability.

According to the Resource Based View (RBV) Theory (Barney, 1991) a company’s

resources and capabilities are the most important factors in determining its ability to compete

and succeed in the market. Businesses looking to expand should focus on identifying the core

competencies and leveraging the competitors to gain a competitive advantage. Might be

involve investing in research and development, building relationships with suppliers and

customers or developing new products or services.

Conceptual Framework

The major concept of this study is focused on business expansion and its guidelines

for choosing the ideal market.

Guidelines for choosing the

Business expansion
ideal market

Figure 1: The figures show the expansion of business have a guidelines for choosing the ideal

market .

5
Significance of the study

The result of the study “Expansion of business and its guidelines on choosing the

ideal market for business owners “

This study about the expansion of business help businesses to grow, increase the

probability, and reach new markets. Given that study primary focus is on expansion,

including opening new locations, entering new markets diversifying products or services and

or acquiring other businesses.

The findings of this study is that it can help business owners and managers informed

decisions about whether to expand a business. This can help business owners and managers

to develop a clear expansion plan that takes into account on the relevant factors such as

market demand, competition, financing, and management resources.

The expansion of business and its guidelines of this study can be an invaluable

resource for business owners and managers seeking to grow their business in a sustainable

and profitable way.

The study can also identify the policy implications of business expansion and suggest

way to promote sustainable and inclusive business growth.

Scope of limitation

This research will utilize qualitative data collection in Pinamangguan, kadingilan

Bukidnon. Baranggay Pinamangguan has many constructed small business in kadingilan

6
some skills and strategies or business owner, such as marketing strategy, tax incentives also

provider resources and net working opportunities for local business.

Definition of terms

The following terms were defined according to how they are used in this study:

Expanding a business, this refers to a increasing the size, scope, or reach of a business

operation.

Guidelines, this refers to a set of instructions or rules that provide guidance or

recommendations or how to problem a task, achieve a goal or conduct oneself in a particular

situation.

Ideal market, this refers to a theoretical economic model of amarket in which certain

conditions are met, leading to an efficient and allocation of resources.

Business, this refers to any activity or organization engaged in the production or sale

of goods or services with the aim of making a profit .

Market, this refers to a composition of systems, institutions, procedures Social

relations or infrastructures whereby parties engage in exchange.

7
 REVIEW OF RELATED LITERATURE

Conducting a market research

Market analysis is a detailed assessment of the businesses target market and

competitive landscape within a specific industry. The analyses project the success that can

expect when introduce the brand and it’s products to consumers within the market. Market

analysis includes quantitative data ,as the actual size of the market want to serve ,prices

consumers. Willing to pay, and revenue projections, qualitative data as consumers values,

desires , and buying motive.(Coursera,2023)

Market analysis is to determine a unique characteristics of the market want to operate

to help make decision about how to run the business. It is a business plan that contains

information about the market that work in . Using a market analysis ,can be able to gain

information about industry demographics , target market, competition, and barriers to entry.

All of the data used in the business plans are used for internal use and for inventors to have a

clear idea about the business.(kennedy,2021)

A business plan will serve as roadmap when building the business. Within the

business plan there’s an important should pay careful attention of the market analysis. Market

analysis helps to understand the target market and how can thrive within it. Market analysis

8
shows that done with research. It also contributes to do marketing strategy by defining the

target customer and researching buying habits .A market analysis will yield invaluable data if

have limited knowledge about market research, the market has fierce competition, and if

business owner require a business loan. In this guide, explore how to conduct the own market

analysis includes the objective, industry outlook, target market, market value, competition,

barriers to entry, and regulation. (Marticio,2020).

Marketing research refers to the process by which an organization gathers information

about its ideal customer and larger market in order to inform the organization go to market

strategy. Marketing research helps a business by giving it insights into what customers like

and dislike, and what to say customers want. These insights come in both quantitative and

qualitative forms and can play a massive role in empowering a business’s decision -making .

Marketers play a significant role in both gathering and interpreting the data used in marketing

research. Marketers are well positioned to actually reach the people needed to perform market

research (DJ Team,2020).

Market research can help a business in a number of ways .It works as true investment

for an organization . Conducting market research ensures a higher chance of business

success, reduces risk in the strategy and helps the product and services match the needs of the

customers or potential customers. When promoting the business market research, surveys are

right up there as one of the best ways to do so (Drive Research Team,2022).

According to (Business plan,2023) writing a marketing plan can help to define the

marketing strategy and identify the best activities and channels to market the products or

services. Having a marketing plan can help to identify the market and how the product or

service can benefit it, identify how to might attract new customers. Encourage the existing

customers to continue purchasing the product or service. Set goals and time frames for the

9
marketing activities. Map out a strategy to reach the target audience, including messages,

channels and tool use .Evaluate the marketing activities and provide a marketing budget and

see the return on investment.

Marketing research is important for evaluating what is and is not working in the

business model . Includes research into the target market, as well as the systems in the

business that make up the marketing conditions. Marketing research helps to learn not just

what customers want . It helps to identify problems and opportunities, refine the systems, and

evaluate the marketing strategy.(Lake, 2019)

A business guidelines

A market analysis is thorough qualitative and quantitative assessment of the current

market. It helps to understand the volume and value of the market, potential customer

segments and the buying patterns ,the position of the competition, and the overall economic

environment, including barriers to entry, and industry regulation. Whether writing a one-page

plan or putting together a detailed business plan for a bank or other investor, a solid market

analysis is expected. In depth knowledge of the market ,be better positioned to develop

products and services that the customers are go in to love. And diving into market research

may seem like a daunting task it can be broken up into four elements includes industry

overview, target market, competition, pricing and forecast. (Parsons, 2021)

A business plan is a document that contains the operational and financial plan of a

business, and details how its objectives will be achieved. It serves as a roadmap for the

business and can be used when pitching investors or financial institutions for dept or equity

financing. A business plan should follow a standard format and contain all the important

business plan elements . Typically, it should present what ever information an investor or

10
financial institution expects to see before providing financing to a business. ( CFI

Team,2023)

Business expansion typically occurs when a company has reached a point of growth

and is actively seeking out additional opportunities to generate greater profits . Business

expansion takes on different forms . It includes purchasing new asset , opening new units ,

adding sales personnel ,increasing advertising ,adding franchise ,entering new markets ,

providing new products or services, and more. The process of expanding a business involves

careful planning, business analysis, and the use of financial resources. It is important for

entrepreneurs to determine what type of expansion for the business owner’s to carry out.

(Verde, 2021)

Business expansion is the attempt of a company to grow the size of its business . It

aims to increase the sale of operations. Thus ,the company can generate more money .

Expansion can be through internal growth such as ,build new production facilities, target

new markets ,develop new products, and establish a subsidiary. Alternatively, it could be

through external growth such as ,acquired another company, merger with other companies,

establish a joint venture, and build strategic alliances. Expansion becomes a way to grow the

business and generate more money for the company’s shareholders .(Nasrudin,2022)

Business rules are a combination of guidelines and inferences from the guidelines

when in turn direct how to conduct business. Business rules would be a world of business

needs, where rules are important citizens. Business rules are frequently brought up in

requirements document, and managing in a single document eliminates the need to modify

separate portions of requirements documents. (Zaran Tech, 2019)

Starting a business requires analytical thinking, determined organization, and

detailed record-keeping. Its important to be aware of the competition and either appropriate

11
or improve upon the successful tactics. Prepare to make sacrifices in the personal life when

establishing the business. Providing good service to the customers is crucial to gaining the

loyalty of customers and retaining the business. To succeed in business, need to be flexible

and have good planning and organizational skills .(Seabury, 2023)

Small business can take many forms , such as sole proprietorship, partnership, limited

liability companies (LLCs) ,or corporations. Small business play a significant role in the

economy by creating jobs ,generating revenues, and contributing to the growth and vitality of

the local communities. To succeed in today’s dynamic business environment, small business

owners must be entrepreneurial, innovative, and strategic. Some tips for growing and

expanding the business to make better profits. Develop a solid business plan, identify and

understand the target market, leverage technology, focus on customer service. Expand the

product, diversify the revenue streams, network and collaborate, secure financing and hire

the right people. (Anand, 2023)

Importance of market research and guidelines on business expansion

Market analysis plans approach to understanding the entire market. The market

analysis is the backbone of the business plan. The market analysis gives the entrepreneur all

of the information necessary to determine whether a product, service, or idea is a valid

business opportunity. The market analysis will be in-depth and include lots of primary and

secondary research. (Gordon, 2022)

According to (Sean Peek, 2023) that there’s no surefire formula for instant success,

but can boost the business growth with some tips from startup founders. Growing a business

may take time ,but there are a few things that can do to scale the company more quickly.

When the owner’s first launch of the business , the main goal is to establish the brand and

start growing. Growth is an ongoing process that requires hard work, patience and dedication.

12
 To succeed in business, need to be flexible and have good planning and

organizational skills . Starting a business requires analytical thinking, determined

organization, and detailed record keeping. It’s important to be aware of the competition and

either appropriate or improve upon a successful tactics. Providing good service to the

customers is crucial to gaining the loyalty and retaining their business. To achieve business

success the owners need to be organized. It will help to complete tasks and stay on top of

things to be done. All successful businesses keep detailed records to know where the business

stands financially and what potential challenges could be facing. (Seabury, 2023)

According to (March, 2022) by looking at things like consumer behavior, the

competitive landscape, market size, and the digital strategies of others companies at any stage

in the lifecycle can stay relevant, maintain a competitive edge, set strategic direction, and

experience growth. Doing periodic market research also help businesses develop a deeper

more informed understanding of a market, its audience and key players. Seeking financial

backing, doing market research is essential to show credibility and build confidence plan.

13
 METHODOLOGY

Research Design

The researcher will use qualitative method in this research. This research is defined

as a market research method that focuses on obtaining data through open-ended and

conversational communication. This study will understand the business owners in choosing

the ideal market to expand and will gather the information on what are the guidelines use in

business expansion of the business owner.

Sampling design

The researchers will use purposive design in conducting this research. Judgemental or

purposive sampling, is a type of non-probability in which researchers select the samples

14
based on the researchers knowledge and credibility, and depend on the own judgment when

selecting people of the public to take part in the survey. Since this study will focus on

business expansion and its guidelines for choosing the ideal market.

Research Locale

The study will be conducted at Pinamangguan, Kadingilan, Bukidnon. Pinamangguan

is the barangay in the municipality of kadingilan, in the province of Bukidnon. It’s population

as determined by the 2020 census 2,121. This represented 6.29% the total population of

kadingilan. Pinamangguan is situated at approximately 7.4800, 124.8749, in the island of

Mindanao. Elevation at these coordinates is estimated at 166.2 meters or 545.3 feet above

mean sea level.

15
Figure 2: Research locale map

Respondents of the study

The respondents of this study are the different business owners in Pinamangguan, the

researcher will choose the respondents by reviewing the expansion and outgrowth in terms of

growing business, in order to the responses to be reliable and accurate information of the

respondents will be equipped with prior knowledge and skills on business expansion.

Instrumentation and Validation

The researcher will utilize self-made questionnaire consisting of three parts ,the first

focus on why do business need to set an ideal market, second part will focused on the

guidelines for expanding a business, while the last part covered the importance of guidelines

for choosing the ideal market can help to expand a business.

Since the questionnaire is self-made, it is subjected to the face and content validity . It

will show to the instructor in research for comments and suggestions. After to shown to the

instructor for final approval and then distributed to the respondents.

Data gathering procedures

The first thing that the researchers will do is to ask an approval to carry out the study.

To request authorization and certification for the approval to conduct of the study ,a better of

permission will be given to the instructor .

16
 Second, the participant will be selected based on the availability and willingness to

participate. The researchers guarantee that participants who will be chosen must have an

understanding on the question. (Creswell,2007)

Third, the study’s main objective and the design method for data collection will be

explained in participants.

The fourth step involved an in-depth interview by the researchers. Researcher will use

audio recorder to record the explanation of the participants. The researcher will explain the

goal of the study before the beginning of the interview.

Participants will be given 25 minutes to answer the question. Researchers will ask the

interview guides questions. After the interview, the researcher will express the gratitude to

the participants for the time and the insights of the participants that will be provided.

Finally, to guarantee veracity of the responses and the preservation of the necessary

material interviews will be recorded using an audio recorder. The recorded and transcript that

will be used in this study will be kept secure.

Trustworthiness of the study

To guarantee reliability and accuracy when collection data, the researchers will put

into account, the response of the participants. A value of qualitative research and

transparency of the conduct of the study are crucial usefulness and integrity of the findings

(Lope, 2014). The rigor of a study refers to the degree of confidence in data, interpretation,

and methods used to ensure the quality of a study (Pilot & Beck, 2014).

Credibility of the data of the research will be gathered from the business owner

respondents of Barangay Pinamangguan. Disclosure of methods and other relevant

17
information is necessary so as to ascertain the accuracy and therefore achieve credibility in

conducting the research .

To confirm ability, the outcome of the study will be in accordance with the data being

obtained from the conduct of the research. The finding that will be generated from the

responses taken by the use of qualitative methods will be carefully analyzed so as to obtain

reliable information. The results of the study will be treated with fairness and are based from

the answers provided by the respondents , and subsequently be established to present the

responses for the final formulation of findings.

Analysis of data

The data in this qualitative study will be evaluated by the researcher that will review

all the information that be gathered through interviews, including the in-depth interviews.

The acquired data will be examine, synthesized, and documented to retain careful and

detailed information that be gathered. Analysis will go under rechecking after the official data

collection period was done.

All the information that be gathered, including the responses provided by the research

participants in the in-depth interviews The responses of the participant from the survey were

recorded and analyzed, allowing the researcher to reflect as themes emerged from the data.

Once the data was transcribed, it was then coded, analyzed interpreted and verified.

The process of transcribing the interviews can help the researcher to gain more understanding

of the subject from repeatedly listening and reading the transcribed interviews. The data was

then analyzed, categorized and organized into themes and further sub-themes which emerged

through the coding process.

18
 The final stage involved data verification, this process involves a process of checking

validity of understanding by rechecking the transcripts and codes again thus allowing the

researcher to verify or modify hypotheses already arrived at previously .(Sarantakos,1998)

19
 REFERENCES

Verde (2021 ,April 26) . Strategies for Business Expansion .Retrieved

March 12 , 2023 from
https://nnroad.com/blog/business-expansion-strategies/#:~:text=What%20Is%20A
%20Business%20Expansion,managing%20business%20expansion%20or
%20development.

Shekoohi ( 2020, June 27) . The importance of guidelines in a company . Retrieved March
12, 2023 from https://www.linkedin.com/pulse/importance-guidelines-company-
rahim-shekoohi

Guidelines for Business Planning | Small Business| Business

Planning & Strategy| Business Guidelines. Retrieved March 8,
2023 from https://smallbusiness.chron.com/guidelines-
business-planning-14740.html
Peter Drucker’s Theory of Management (Updated 2023, February 22) Retrieved
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drucker-management-theory.html
Kotler,( 2000 ) The Marketing Concept , Marketing Management. Upper Saddle River, New
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https://www2.nau.edu/~rgm/ha400/class/professional/concept/Article-Mkt-
Con.html
Resource Based View , Business Networks in East Asian Capitalisms, 2017. Retrieved March
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%20argues%20that%20a%20firm's,and%20competitiveness%20over%20their
%20competitors.
Guidelines for Business Conduct. Retrieved May 2 , 2023 from
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w11.htm
Freedman (2023, February 22) How to Conduct a Market Analysis for Your
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How to do a market analysis for a business plan| The business plan
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https://www.thebusinessplanshop.com/blog/en/entry/market_an

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 alysis_for_business_plan#:~:text=A%20market%20analysis
%20is%20a,barriers%20to%20entry%20and%20regulation

Market Analysis: What It Is and How to Conduct One- Coursera ( 2023, April 13). Retrieved
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Gregory, ( 2022, November 29) How to write the market analysis section of a business plan.
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2951562

Gordon , ( 2022, April 14) , Business plan- Market analysis section | Market analysis section
of a business plan . Retrieved May 5 2023 from
https://thebusinessprofessor.com/en_US/business-management-amp-operations-
strategy-entrepreneurship-amp-innovation/business-plan-market-analysis
Marticio, (2020, October 22) , How to write a market analysis for a business plan .Retrieved
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21
 A SURVEY QUESTIONNAIRES OF THE EXPANDING A BUSINESS GUIDELINES
FOR CHOOSING THE IDEAL AT BARANGAY PINAMANGGUAN

Name (optional):________________________________________ Age:__________

General objectives: To determine how business owners expand their business by choosing
the ideal market.
Direction: Read each statement in the survey depending on your personal opinion . There’s
no wrong or right answer . Your answer will be strictly confidential.
Part 1: Why do business need to set an ideal market?

1.Have you set specific targets for market growth?

___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
2. What are the primary goals of your business?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
3. How well do you know your target customers and their preferences?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
4. When you are targeting an ideal market does makes it easier to track and evaluate
success?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
5. How does identifying an ideal market contribute long-term business growth?

22
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
Part 2: What are the guidelines for expanding a business?

1.How long has tour business been operational?

___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
2.Have you achieve consistent profitability?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
3.Have you conducted market research to identify potential growth opportunities?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
4.Do you have the infrastructure and resources to support the expansion?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
5. Who are your main competitors in the target market?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________

Part 3: How do guidelines for choosing the ideal market help in expanding a business?

1.What is the key benefit for a business of expanding through market growth strategies?

23
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
2.What are the most important factors to consider when expanding a business?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
3.How do you expand a new business through new market development?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
4.When you decide on putting up a business ,how do you choose the market you should
cater?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
5.Is there any other information or feedback you would like to provide that could assist in
understanding the market better?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________

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