subject: How To Market and Sell Your Business [print this page] As a business entrepreneur, you need to strategize on ways through which you will make your business thrive in the market. In other words, you need to know how to market and sell your enterprise to potential stakeholders like end-consumers and creditors. To do so effectively, you need to first understand what your market or niche looks like. Who are your targeted clients? what are their spending habits? and how much competition are you likely to get from other business people? On the part of dealing with competitors, you have to ensure that your marketing message is outstanding and captivating. Come up with a tagline that captures all that you have to offer your stakeholders, and this should be uniquely designed.
Among the tips that you will find useful in your marketing strategy are research, marketing materials and methodology. Let us first have a look at research. Research should basically be a platform on which you will be able to answer all questions that pertain to your clients or target population.
1. What is your target market or population like? What is their age bracket and what is their income bracket?
2. How regularly do they shop for the products or services that you want to offer them?
3. How best can you influence their spending habits positively? With this question you can think of after-sales services that would auger well with your type of products or services. For example. Why not offer home delivery services to your loyal customers?
When you think of marketing materials, go for catchy captions and taglines. You must also consider the medium that you are going to use to pass the message across. Whether the captions will be used on TV, newspapers or simply displayed on the window of your shop, they should be something that will hang on to the minds of whoever sees them. The captions will make it easier to identify with your enterprise. Consider how far the message will spread. For example, if you choose to use newspapers to market your enterprise, put into consideration how many people are likely to spare their time to look at the newspaper ads.
In the marketing methodology, you could choose to include substitutes that would otherwise appeal to your clients incase they are unable to find the original product. From your research, you should have information pertaining to;
. How much your clients are willing to offer for your products
. What their most preferred form of payment is; credit cards or cash.
. What criteria you will use for your pricing. For example, will pricing be based on what other competitors price their products? or on your expected price margin regardless of the prevailing market price?
This, being an outline of what is expected of you, your business is sure sell to your potential clients, only if you put everything in its place.
How To Market and Sell Your Business
By: Peter Gitundu
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