Most will explain it as just determine your market for your product or service. A newbie in the industry surely would be thinking by now, "Can you please expound on that a little more." There are probably several ways, many different people would attempt to explain this. So, I'll share with you the best definition I heard when I was inquiring.
The first thing you need to do whenever you are looking to market whatever, product or service you are offering is find your market. This means You need to first search out who would be the best candidates for your product or service. In other words, what's your plan to find out what sort of people, or location, age group, etc are looking for what you have and what will be your strategy to get it to the majority that has their hands raised.
Grant it, there's a lot of competition out there, so you won't be alone in offering your service or product. Trust me the market is full. So your next step is going to be deciding on your approach to differentiate yourself from the mass of others who are trying to market the same thing as you.
The gurus will tell you to always focus on four areas in particularly to come up with your best strategy. Those areas are product, price, promotion and place. In other words how can you be a little different than your competitors when marketing your goods, so that consumers will easily chose you as their vendor over your competition?
Most people make their biggest mistake coming out of the gate. They try to market the same product to an already highly populated area. What I'm saying is if both they and their competitors are marketing widgets for instance, they will flock to an area that's been buying these widgets from their competition in that particular area for many, many years. That's not a target market, the territory is already taken. So that wouldn't be a smart move or the place to try to blossom in.
When that's the case,You will now narrow down your market and try thinking outside of the box. If the territory you initially went to is already taken, the thing to do is think of other places or areas that will have a need for your widget. This would be places where the widget are not already in a large supply like, mom and pop stores, gas stations that are convenient for travelers, or seven eleven stores, etc.
If you really wanted to be certain if there's a market for what you want to share, and to find out exactly who will be your target market, you first can do a survey. This can easily be done through any online survey, one that comes to mind is survey Monkey. Online surveys will also guide you on how to effectively conduct offline surveys too.
If you want to get most sales from sharing your product or service, it's important that you take the time required to research the market place and find your unique target market. This will both save you time and money and I can assure you, when done properly the rewards can be great. As the slight edge philosophy goes, it's easy to do and it's easy not to do. Which will you choose, your target market or a congested market?
To learn more about how to create greater success and finding your target market, click this link to a resource recommended by industry expert Rena Williams. It's important to learn all you can about how to get online results.
Rena Williams is a dedicated success mentor. She has a passion for assisting others in acquiring the knowledge and skills necessary for success. Learn more about how she develops leaders using a Free tool at http://www.coachrenawilliams.com/.
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