Market

Your Market Story

Telling your market story┬áisn’t about doing formal market research, or gathering the supporting information you’ll need to include in a plan for investors, or professors, or in some cases for the bank, your boss, partners, or any other third-party plan judge or reader. No. This is about knowing your market for yourself, so that you...


Profile Your Ideal Customer

John Jantsch, in Duct Tape Marketing, recommends that you start by profiling your ideal customer. Focus for a while on one person, whether he or she is your customer directly or the decision-maker for a business customer. Give that person age, gender, income level, likes, dislikes, favorite movies, songs, magazines, restaurants. Know that person. If...


Understand Needs and Wants

Clean your mind for a few minutes. Forget how great what you’re selling is. Forget the features you’ve focused on, and your marketing literature. Think about what your customer wants. Why does he or she buy from you. Think about Starbucks for a minute; a brand most people know. Starbucks doesn’t think it’s selling coffee...


The Fresh Look

Back in the 1970s when I was a foreign correspondent living in Mexico City, I dealt frequently with an American diplomat who provided information about Mexico’s increasing oil exports, which were a big story back then. We had lunch about once a month. He became a friend. Then one day he told me he was...


Jump to the Future and Ask This Question

You fall in love with your plan, and love is blind. You don’t see the fatal flaw. I know a man who jumped headfirst into a new venture based on building a chain of used CD stores. The punch line? It was 2000. Napster was already there. Do you see the fatal flaw? He didn’t....


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