Venture 4th by Godknows Ncube
Purple Cow : Transform your Business by being remarkable! By Seth Godin
On Tuesday 24th July I attended one of the eight Venture 4th evenings and I would like to share some of the knowledge that I got from there.
Marketing
Market research is really the heart of the business. It’s very important to closely examine the market segments and an Entrepreneur has to really know their products inside out and be passionate about it. It is also important to research the location and establishing whether you have a market for your product that area. I learned that when you start doing market research there are the few things to consider.
Price
• How much will the product cost
• Retailer mark-ups
• Are you going to have any discount
Product
• The quality of the product. How will you maintain it?
• Models and sizes
• Packaging
• Are you going to sell a service?
Promotion
• How are you going to advertise your product or service?
Place
• Channels of distribution
• Outlet location- is it close to your target market?
• Warehousing – Are you going to need any need any storage?
Social Media
This is a very important tool that business entrepreneurs must consider. It has the power to make a business successful considering that its managed correctly. The Internet also offers the perfect public platform for everyone to share their opinions and ideas. Today, online media is one of the top news sources and has many representations, such as forums, blogs, image galleries and video portals. There is a wide variety of social media, ranging from social sharing sites such as YouTube and Flickr through social networks such as LinkedIn, Facebook, Twitter and Pinterest.
Ways to use a Social Media in a business.
• Listen to what your customer needs.
• Survey
• Tell the customers more about your service or product.
I learned many things in this session and would like to thank Beyond Education for organising this program. If you would like to know a little bit more about these sessions, you can follow their Facebook page Venture 4th.
Written by Godknows Ncube
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