Marketing Research and Forecasting Demand

We can provide a quality marketing tools for our business. Eg, LG Telecom focuses on individual customer needs to improve retention and efficiency of its marketing programs. Lifetime models, analysis result and offerings so that they can gain a clear and consistent understanding of its customers.

Create useful score tools in achieving customer needs. The recommendations or complaint from customers can be useful and measurable  in order to fulfill the best value, by initiating the best response.Consumer and Market Knowledge (CMK) is a large market research which its goal to bring consumer insight to decision making at all levels.

Companies normally budget marketing research at 1-2%  of company sales.More than than, outsource because it is not relevant or equivalent to time consuming or research to be conducted. The marketing research firms fall into three categories:
a) Syndicated-service research firm- gather consumer and trade information, whch they sell for a fee.
b) Custom marketing research firm- hired to carry out specific projects. design the study and report findings.
c) Specialty-line marketing research firms- specialized research services.

SPSS Statistics

Using SPSS to measure and analyze primary survey are getting importance not only to researcher, also to government officers. The basic reason for this is effectiveness and also reliability of the findings would concurs effective and useful information. In Sarawak, KPI of your organization or even snall unit can be measure through SPSS. Just how to intrepret and analyze is different,more over, needs training and solution based channel.
SPSS would give an organizations view of financial and non financial performances for a certain period.

Differences between Provision and Contigent Liabilities

Provisions

A provision is a liability of uncertain timing or amount.
Recognition
A provision should be recognised when, and only when:
(a) an entity has a present obligation (legal or constructive) as a result of a past event;
(b) it is probable (ie more likely than not) that an outflow of resources embodying
economic benefits will be required to settle the obligation; and
(c) a reliable estimate can be made of the amount of the obligation.

The Standard notes that it is only in extremely rare cases that a reliable estimate will not be possible. In rare cases it is not clear whether there is a present obligation. In these cases, a past
event is deemed to give rise to a present obligation if, taking account of all available evidence, it is more likely than not that a present obligation exists at the end of the reporting period.

Measurement
The amount recognised as a provision shall be the best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The best estimate of the expenditure required to settle the present obligation is the amount that
an entity would rationally pay to settle the obligation at the end of the reporting period or to transfer it to a third party at that time.
Where the provision being measured involves a large population of items, the obligation is estimated by weighting all possible outcomes by their associated probabilities. Where a single obligation is being measured, the individual most likely outcome may be the best estimate of the liability. However, even in such a case, the
entity considers other possible outcomes.

Contingent liabilities
A contingent liability is:
(a) a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity; or
(b) a present obligation that arises from past events but is not recognised because:
(i) it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or
(ii) the amount of the obligation cannot be measured with sufficient reliability.

An entity should not recognise a contingent liability. An entity should disclose a contingent liability, unless the possibility of an outflow of resources embodying economic benefits is remote.

Contingent assets
A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity. An entity shall not recognise a contingent asset. However, when the realisation of income is virtually certain, then the related asset is not a contingent asset and its recognition is appropriate.
A provision is a liability of uncertain timing or amount.
Recognition
A provision should be recognised when, and only when:
(a) an entity has a present obligation (legal or constructive) as a result of a past event;
(b) it is probable (ie more likely than not) that an outflow of resources embodying
economic benefits will be required to settle the obligation; and
(c) a reliable estimate can be made of the amount of the obligation.

The Standard notes that it is only in extremely rare cases that a reliable estimate will not be possible. In rare cases it is not clear whether there is a present obligation. In these cases, a past
event is deemed to give rise to a present obligation if, taking account of all available evidence, it is more likely than not that a present obligation exists at the end of the reporting period.

Measurement
The amount recognised as a provision shall be the best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The best estimate of the expenditure required to settle the present obligation is the amount that
an entity would rationally pay to settle the obligation at the end of the reporting period or to transfer it to a third party at that time.
Where the provision being measured involves a large population of items, the obligation is estimated by weighting all possible outcomes by their associated probabilities. Where a single obligation is being measured, the individual most likely outcome may be the best estimate of the liability. However, even in such a case, the
entity considers other possible outcomes.

Contingent liabilities
A contingent liability is:
(a) a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity; or
(b) a present obligation that arises from past events but is not recognised because:
(i) it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or
(ii) the amount of the obligation cannot be measured with sufficient reliability.

An entity should not recognise a contingent liability. An entity should disclose a contingent liability, unless the possibility of an outflow of resources embodying economic benefits is remote.

Contingent assets
A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity. An entity shall not recognise a contingent asset. However, when the realisation of income is virtually certain, then the related asset is not a contingent asset and its recognition is appropriate.