Without understanding your business territory, your market you will maybe survive but you will never prosper. If your aim is generating revenue and profit you need to clearly understand what are the needs of your market, target group. You need to know what they are looking for, what is their decision criteria, etc...
There is a bad news for you...
There are different types of buyers:
- some of them are only looking at the price
- some of them are looking for the best quality
- some of them are looking for the luxury or the prestige
- some of them are looking for long term guarantees
- some of them are looking for the added values
- some of them simply make their decisions based on your personality - etc...
Many-many different needs but you need to know and handle them.
The price is only one factor and believe it or not, the price is not the most important one. If you will start to fight on the price, you will die.
You need to fight for your client! Whatever he or she wants...
Many companies have no other idea how to communicate with their target group so they simply reduce the price. But this is just a silent and desperate scream for new customers, clients. If you understand the needs of your clients you do not need to reduce the price anymore. You will have the possibility to sell for a higher price than your competition without risking to loose your clients.
The most efficient way towards achieving business success is to understand the needs of your target group.
The Creating Business Value book is available in International distribution.
Amazon.com: http://amzn.com/1447870670
Official website: http://www.creatingbusinessvalue.com
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