CORE PRINCIPLE – THE MARKET WILL DECIDE WHETHER YOU HAVE A SOUND BUSINESS IDEA
Consider how many different groups of people you’re going to need to communicate with, eg:
- Your Target Market
- General Public
- Government Departments
- Investors and Banks
Each of these need ‘an authentic you’ for the communication to be effective.
Communication with your market will inform you about how your business needs to be managed in all respects.
- The 7 Principles of Brilliant Communication
What is Marketing?
A series of processes that are designed to provide you with all the information you need to successfully sell your products or services.
Identifying Your Market
Who are your customers? What are their needs? How do you assess where to market your products or services? What are the benefits you can offer your market that will ensure sales?
Market Research – Understanding Your Market
Understand the psychology of Marketing
- Know your customers
- Know your competition
- Know your pricing
- Know your profit margin
- Know the industry you’re entering
- Establish your uniqueness with solid and evidence-based Market Research
Know how to prepare yourself for effective negotiation. Interactively understand your potential clients’ requirements.
Setting your prices by analysing market research
- Know the upper and lower limits of your pricing
- Know your customers’ customer
- Learning to sell in depth