One of the common questions asked in my workshop is – “What is the most important thing in the entire Marketing process?”
And my usual answer is – “Understanding Your Market.”
Do you know, what is the suicidal mistake committed by new entrepreneurs?
It is launching products in the market without knowing the pulse of the market.
They presume that their products or services will bring some kind of revolution in the world but they ignore the needs and wants of people.
They fail to notice the pains, fears, desires, and problems of people.
Just like an unsuccessful movie director who makes a disaster movie without exploring the taste of his audience.
The entrepreneurs forget the basic fact that…
It is the people, who will decide the success or failure of their creations.
It is the people, who will buy or reject their inventions.
It is the people, who will spend or keep away hard-earned money on their latest gadgets.
To becoming a Market Leader requires understanding the sense of your market.
It requires moving out of your comfort zone and starts spending time with your market.
You need to observe your market.
You need to listen to your market.
You need to feel the emotions of your market.
If you ignore the market, the market will ignore you.
It’s a simple tit for tat
In the October issue of my monthly newsletter “Persuade and Grow Rich” I will talk about the customer – the human creature that is going to buy whatever you sell at a price that makes you some profit to live a life that you always want.
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Vibhor
