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Showing posts from August, 2021

Seven Ways To Identify Your Ideal Clients

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 Seven Ways To Identify Your Ideal Clients 1. Look At Your Current Client Base 2. Consider Their Current Habits 3. Identify Their Goals 4. Identify Their Fears 5. identify how they make their buying decisions . 6. Ask Yourself Who Would You Like To Work With 7. What Do They Need 1. Look At Your Current Client Base Rather than take a wild guess, take some time to work out the people you currently work with. If there are certain people you don’t enjoy working with, exclude them from your list. Take some time to look at their gender, age bracket, industry, location and income level. Ask them what drew them to working with you. This can quickly give you a good overview of “who is your who.” 2. Consider Their Current Habits Digging a little deeper, ask yourself what is it that your ideal client reads. What do they Google? What information are they searching for? Where are they searching for this information? Do they use Android or Apple? Are they always on a mobile device or on a comput...

Function of Marketing Management.

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Marketing is a very broad term and cannot be explained in a few words. Marketing is an essential business function that helps in making the customers aware of the products or services that are offered by a business. The definition of marketing as defined by the American Marketing Association is as follows. “Marketing is the process of planning and executing conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.” The following are the functions of marketing: 1. Identify needs of the consumer:  The first steps in marketing function is to identify the needs and wants of the consumer that are present in the market. Companies or businesses must therefore gather information on the customer and perform analysis on the collected information. By doing this they can present the product or service that matches closely with the customer needs and wants. 2. Planning:  The next step in marketi...

What Is the Product Life Cycle?

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What Is the Product Life Cycle? The product life cycle is the process a product goes through from when it is first introduced into the market until it declines or is removed from the market. The life cycle has four stages - introduction, growth, maturity and decline.  While some products may stay in a prolonged maturity state, all products eventually phase out of the market due to several factors including saturation, increased competition, decreased demand and dropping sales. 4 Stages of the Product Life Cycle Generally, there are four stages to the product life cycle, from the product's development to its decline in value and eventual retirement from the market.  1. Introduction Once a product has been developed, the first stage is its introduction stage. In this stage, the product is being released into the market. When a new product is released, it is often a high-stakes time in the product's life cycle - although it does not necessarily make or break the product's even...

The Process of New Products Development

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The Process of New Products Development The new product development process in 6 steps. New product development is the process of bringing an original product idea to market. Although it differs by industry, it can essentially be broken down into five stages: ideation, research, planning, prototyping, sourcing, and costing.      8 Stages of Product Development Process It is important to understand that there is no one generic product development process and that each rendition of such a process will vary depending on the depth and detail that each explanation covers. This article explains 8 stages of the product development process and these are listed below. 1.Idea Generation: The first stage in the product development process is idea generation. In this stage, the company comes up with many different and unique ideas based on both internal and external sources. Internal idea sources more often than not refer to the in-house research and development teams of the compan...