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Starting Your Own Business ? Hints & Tips Entrepreneurial Advice Suzie's Blogs ... |
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What are the features and benefits of your product or service? When determining features, think of automobile brochures that list engine, body and performance specifications. Next, and more difficult, determine the benefits those features provide to your customers. How does your product or service actually help them? For example, a powerful engine helps a driver accelerate quickly to get onto busy freeways. Who is your audience? ( this is very important ) Create a profile of your best customer. Be as specific as possible, for this will be the focus of your ads and media choices. A restaurant may target adults who dine out frequently in the nearby city or suburban area. \ A computer software manufacturer may aim at information managers in companies with 10-100 employees. A bottled water company may try to appeal to athletes or people over 25 who are concerned about their health. Who is your competition? It's important to identify your competitors and their strengths and weaknesses. Knowing what your competition offers that you don't, and vice versa, helps you show prospects how your product or service is special, or why they should do business with you instead of someone else. Knowing your competition will also help you find a niche in the marketplace. Have yourselves a wonderful day! Suzie Suzie's Business Blog Adult Beverages for Every Taste Posted: Thursday 17th March 2005, 1:16 AM |