You must be able to correctly, objectively, and completely answer these questions. It doesn’t matter how you get the answers. Someone else can do the research. But it does matter where you get the answers. You get the answers from customers and potential customers. *Why do customers buy your product?...
Marketing
The marketing superstar must know the answer to many critical questions. The answers are essential to proper market segmentation, product positioning, pricing, selling, advertising, and crafting marketing action plans. These questions are especially important for new products. Lazy marketers don’t know the answers, they hunch the answers, or they ignore...
The single most important ingredient for a successful business is having a customer. A customer is more important than a business idea, the technology, financing, management, or anything else. Marketing superstars get and keep customers. Customers (people) buy to feel good, or solve a problem. Customers value the solution...
Pricing goods and services is one of the most difficult tasks in the business arena. Many small businesses fail to make profits simply because they don’t consider all the factors needed to make prices competitive and yield that elusive profit. Before setting prices, you must understand your market, distribution costs...
If you are thinking of starting a new business or expanding into new markets, proper market evaluation is critical to success. While it may sound deceptively simple to figure out if a market exists for your product or services, it is probably one of the most challenging requirements of business....
