There are many people who have set up businesses, and succeed. However, over the business world, many emerging competitors and their presence increases the risk of the business. There are those which survived, while others failed and collapsed and disappeared from circulation. The survival of running a business is certainly a challenge. So how can survive competitive business world it? The following are tips and strategies.
1. Determine brand and product segments. Brand and product segments are the two things that should always be in accord with the target market, and also must be able to represent the characteristics of the goods produced. Brand accessories for teenagers for example, must be able to represent the spirit and flavor of adolescents.
2. Determine the location of the sale. Location of sales is determined by the presence of prospective buyer. Prospective buyers should be easy to reach location of the sale, so the marketing strategy can work well.
3. Approach the prospective buyer with the introduction of brand and product segmentation. This can be done by following the events following the sort of bazaar, create a website, distributing brochures, to create ads and load it in the print and electronic media.
4. Create an attractive offer. During the first few months since launch your product, you should make special offers to attract potential buyer to try to use the product. Change offers at certain times, to position your brand and strong product positioning in the minds of prospective buyers.
5. Expand the network by opening a connection. For example, by lending product, sponsoring the event in accordance with the consumer segment, or opened a new sales location. By doing so, consumers will be more familiar with your product.
6. Develop business. For example, if in the beginning you started the business, your target market segmentation is a teenager, so now you can just browse to the female segment of the adult age. Over the type of business and the type of product is not much different, it is legitimate to do. The important thing you have to be smart to adjust the existing marketing strategy.
7. Strengthen the heart, work hard, and never give up. Running your own business is certainly quite tiring and time consuming and mind. While others earn a steady income every month, you should think about the expenses. This is the art of running your own business. Strengthen the heart, work hard, and never give up.
8. Never choose a brand name that is identical to other existing brands.