7 Key Questions for Your New Venture Marketing
April 2, 2013 § Leave a comment
Launching a new venture (and be successful) is not easy. To minimize the risk, it is thinking strategically. The following 7 questions will help to dispel doubts and to chart the way of your business. Are you ready to answer?
In this world everything has already been invented, right?
Wherever we look, we find products and services that meet the needs and desires of more diverse. However, when it seems that there is nothing new to be created, someone launches a new product and revolutionized the market.
The business opportunities are endless. Just a matter of finding the right way to implement this idea we have in our mind. To this end, we propose to answer the following questions will help you start planning how your business will carry forward.
1. What is my value proposition?
The value proposition is what sets our product or service from the competition. What we bring back, in different market? How do we improve the lives of people?
It can be based on intrinsic characteristic of our product (technology, design, etc.), focusing on a strategy of aggressive pricing (well below or above the competition) or an innovation in terms of how to distribute our product to those items.
2. How would you describe my ideal client?
Make it as detailed as possible. Try to gather as much information as possible. Knowing your demographic profile, their customs and habits will help you define your target market and develop a product that meets your needs and maximize return on investment.
3. Do I have the financial resources to carry out my idea?
Money attracts money and more or less always need a financial base that allows you to set the foundation of your company on solid ground. If you own funds not enough, there are different forms of financing for your project.
4. Where are my customers?
This complements the previous question and helps us determine the best distribution strategy for our product. In the case of a tangible product that is very important. In the case of services, the issue is much simpler.
We must know if they are geographically concentrated in certain urban or geographically dispersed and plan the best way to find our product (local own online store chains, wholesalers / retailers, etc.).
5. Who is my competition?
When we think of a business idea, to have a monopoly of the market is almost a utopia. Chances are you are not alone. Performs analysis detailed the main actors on stage, the features of your product, your pricing strategies, distribution and communication.
Try to discover their strengths and weaknesses to tailor your offer differentiate and win market share. An analysis SWOT can be of great utility.
6. What if my venture fails?
Try to be proactive. It is preferable to analyze the different scenarios that can arise and how to resolve the situation in the event that the business did not prosper and become irreversible. Choosing the best exit strategy in case the project fails can save you time and headaches.
7. How do I carry my product?
I have left the one of the crucial questions of any new project. Which will be our communication strategy?
Depending on the characteristics of our product and our target market we choose the best means to promote us . Today internet penetration in daily life makes online marketing tool almost critical, whatever our niche.