The Ability To Find Market Place Opportunities in a Small Business

 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 a 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 highlight

• 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.

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