Business Approach

Three Qualities of a Good Business Competitor

This may sound awkward because how can one view a competitor to be good. For obvious reasons competitors will never be good in the eyes of their counterpart. But just like any other things, there is always the good side of anything you might view as the otherwise. For you to somehow appreciate the competitor of your business you need to see some of the good qualities they might have

Be clear about your target market.

If you don’t know exactly who your customers are, you won’t know what they want and how best to serve them. The biggest problem of most small businesses is they try to serve too large a market. Find a niche and own it. When you try to reach too many customers — or types of customers — you spread your resources too thin and your message gets fuzzy. Being dependent

What is Market Segmentation and How it Affects Economy?

Segmentation is the process of dividing a heterogeneous market into different homogeneous segments to facilitate the marketing of products in the target market. Market segmentation helps the marketers to formulate and implement relevant strategies to promote their products. A market segment consists of consumers who have similar choices, interests and preferences. They generally possess similar perceptions and are interested in buying similar products. Through a process of segmentation, firms can