19/06/2017
"7 Keys To Business Success"
Part One
PRODUCT & MARKETING
To understand the two variables, the key to Business Success start here.
Let us first define marketing then will appreciate the product key in succeeding our plans in Business success.
CIM defines Marketing as;
Definition: "The Management process responsible for IDENTIFYING, ANTICIPATING and SATISFYING CUSTOMERS PROFITABLY".
With that in mind, I want you to appreciate the fact that we are now living in a marketing Error were you as a business starting can not put a product on the market without finding out what the customer is looking for. In this case you must appreciate that you are coming in the market as a solution provider. That is why you must find out what gap you can fill up, meaning whatever is lacking in the market must be considered as an opportunity. This is were you come in, to bridge that gap and provide that much needed solution.
Note that this is a process according to the definition. Meaning its a step by step process of doing things with willingness and sacrifice.
First identify the gap or the need of customers and Anticipate what your customers needs are and what your product is going to fulfil and what more the customer will need after that. Remember that your success is dependant on customer satisfaction. Are they satisfied with your product or service, is your product fulfilling the need satisfaction of your customers? If the answer is YES! Then your business will always be competitive on the market.
Furthermore, your focus should be to provide high quality product that will bridge the gap and meet your customers needs. At this stage you must start a need analysis study again. This is so because the market is becoming dynamic by the day meaning its changing so is the needs of customers. When you break through the market do not relax that is just the beginning because now you must place your customers at the heart of your business if you to succeed and maintain your relevancy in the market.
The Key to Business Success is anchored on creating Value for money.
By Steward C Muma
Coach and Business Consultant