Business awareness is currently starting to develop rapidly among the wider community. Each person has a business idea and scrambles to get a market place. However, you have to realize that you cannot get the benefits of a business in one night. You need extra effort in terms of processing to be able to obtain the expected results, including a good marketing strategy.
According to investopedia.com, a marketing strategy is a business’s overall game plan for reaching people and turning them into customers of the product or service that the business provides
The most decisive end of success is the consumer response. Consumer responses to products, in the form of goods or services, are very dependent on their satisfaction when using them.
If the market response is positive, then your product will be easy to sell. On the hand, if satisfaction is minimal and tends to be negative, do not expect your business will run well.
Therefore, you should identify the potential market so that your products have positive responses among consumers. Then, how to do it?
Check out the marketing strategy tips for your successful business
Find Out What Consumers Need
You should be able to identify what the customers’ needs are. For example, the needs of clothing, food, and shelter.
Then, you need to map map in which area will “play” and take part in the market. In addition, try to determine the choice of what is always needed at any time, without knowing the season.
Do demand approach
A demand approach is one of the best ways to find out market potential. You can identify what market demands are still unfulfilled.
For example, bottled mineral water wherever it is certainly very much needed. If it turns out that in a certain area the availability of bottled mineral water is still small, or even non-existent, you can see this opportunity.
Find out the right time to launch a product
This time identification is also a vital thing that you need to pay attention to. Do not let your predictions lead to unsuccessful sales.
The right time can be based on moments, just like the moment of Eid al-Fitr, where everyone needs Lebaran needs. Such as jar filling cakes, various snacks, envelopes for the Eid greetings, new clothes, and so on.
At this peak time, the demand for your product increases dramatically as long as the moment is still booming.
SWOT Analysis
Identification of market potential that has been done can also be continued to analyze your business using SWOT analysis. SWOT consists of analyzing strengths, weaknesses, opportunities, and threats.
Read more: 3 Capital Types to Start Your Successful Business
