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Answer there question when considering your market niche: Who are your customers? Where are your customers? Who cares that you are best? Who cares that you are cheapest? Who cares that you are local dealer? Who cares that you are such a nice person?
The answers to these questions establish your market segmentation, or your market niche, i.e. a small segment of market which you can dominate.
Concentrating your efforts
With a view to succeeding in business, we have to concentrate all our resources, hitting our market segment with our competitive advantage in our area of excellence. We have to concentrate our creativity, our marketing, our sales skills, leadership skills, finance, time, energy, excitement, enthusiasm, advertising and promotional efforts, production facilities, etc., all of these resources being concentrated in enriching lives of our customers - at a profit.
Is benefit we offer worth more to customer than price customer is expected to pay? Can we provide benefit at a cost which is lower than customer is willing and able to pay? Can we provide benefit at a profit?
These are four of most important steps to consider as a business owner. For more in formation on marketing for first time business owners, please go to http://www.my1stbusiness.com.
About the author: Ben Botes from http://www.my1stbusiness.com is an entrepreneur, business owner, scholar, author and leadership coach E-mail Ben at ben.botes@my1stbusiness.com.