Small Business And The Ability To Find Market Place Opportunities

Marketing is one of the four corner-posts of a solid business. Knowing a few marketing tricks is great, but to be really successful you must be able to assess market place opportunities. Here's 13 points you should look at?

  • It is necessary to understand the prevailing economic and industry conditions. Analyze the demographics of your customer base

  • What are the customer's needs?

  • What pricing strategies can be implemented?

  • What is the activity of competitors?

  • What promotional strategies can be implemented (media, word-of-mouth referrals?)

  • What is your customer's profile?

  • Understand your customers' disposable income.

  • Plan promotional schedules around specific activities that are going to affect your customer base.

  • Develop a budget for each promotional activity prior to commencing on the promotional activity highlighting what you hope to achieve, what it is going to cost to promote and then analyze the performance against the budget expectation after the promotional activity is concluded.

  • You need to identify your unique selling proposition and center your marketing strategies round it.

  • If you are using media advertising or promotion, gauge the success of that promotion.

  • Checklist for maintaining sales.

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