In small business, it’s often said that if you create a product or provide a service that people love, you’ll succeed. Real life is more complex than that, but the basic sentiment is spot-on. A great product or service is the cornerstone of every good marketing plan.
With that in mind, this raises many questions:
- How do I know what people want?
- What can I do to make sure my products meet my customers’ needs?
- How do I communicate the benefits of my products or services?
To answer these questions and many more, we’ve compiled a list of articles.
“What is a product?” Let’s examine the roots of a word we throw around all the time. The line between products and services is actually pretty blurry.
When we see companies like Spanx and Roku lean on a single product, we can find ourselves asking “why do new products matter” anyway?
Businesses develop new products to grow and thrive. That means developing new products well is one of the most important things a business can do.
Pet Rocks. Tamagotchis. Fidget spinners. Fads rise and fall with remarkable speed, but the simple fact is that ALL products have a product lifecycle.
Every small business owner has to ask: “should I sell services or should I sell products?” The battle of services vs. products has no clear victor.
Finding a target market is critical to success in business. Focusing on a specific group of people helps you pursue clear goals and make excellent products.
Let’s talk about market segmentation. What is it? How do you do it? Why is it so important to your small business’s success?
If you want to make money, you need to sell something with good product-market fit. There is no way around this. It is an essential truth of business.
When you walk into a store, you make thousands of tiny decisions. Do you ever wonder what’s behind your consumer buying decisions?
For a small business owner, marketing can improve the odds of meeting big goals. All of these and more can be neatly summed up by the 4 P’s of Marketing.
It’s difficult to find your place in a noisy world. Crafting the perfect product or service isn’t enough. To sell it, you have to find your market position.