[Earl, one of our readers, left this as a comment on an older post. I think it’s a good discussion starter, so I brought it here as a post. Becky]
SERVE THE UNDERSERVED” and watch the sales roll in!
By Earl L. Sigmund CPA
I guess that I never looked at target marketing this way before. Instead of taking your product or service and trying to find a target market to buy your product or service, we should first do research on what group of people is underserved and then DEVELOP something that this group wants to buy. Seems like a no-brainer to me. This is what ESPN did, 24 hour headline news did, even McDonald’s did.
Just what do entrepreneurs want now that they don’t have? What do stressed-out families want now that they don’t have?
Maybe this sort of thinking will help entrepreneurs figure out why their marketing efforts fail. Research and analysis of the marketplace are key. Let’s take the time to do our homework instead of just jumping in and forcing our own services and products down everyone’s throats.
What under-served markets do you see around your town?
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Becky started Small Biz Survival in 2006 to share rural business and community building stories and ideas with other small town business people. She and her husband have a small cattle ranch and are lifelong entrepreneurs. Becky is an international speaker on small business and rural topics.