Should You Market Towards Everyone?

Is it a good idea to market to everyone or just try to reach a certain group of people? Apparently, when you market to everyone, you appeal to no one. Due to research, when you try to appeal to everyone you will make yourself spend more money, give confusing information to the people you are trying to reach, and is ineffective in every way because it would not have much cost value. Your product has to be specifically made for a specific group of people that way not everyone feels like they have reason to buy it; this makes it original because fewer people have the same piece of merchandise. Another reason, is if you make everyone think they can afford it then no one will spend big bucks on the merchandise or go out of their way to purchase it. Having a defined market is the best way to make an income.You have to have a target audience for when you advertise. This way you are trying to speak to a select group of people. Researching and gathering likes and dislikes of the specific group of people you are trying to reach is something you will have to do before you advertise. This way you can draw them in. Marketing towards everyone would be some very bland and boring tv commercials, radio ads, & social media pages.
 

What do Consumers Want?

If you're going to be a business owner, no matter what you sale or the size of the business, you have to know what the consumers want. You know, the customer is always right! Well I have been doing some research on my own regarding what consumers want. There are five very important traits consumers look for before they purchase their products from any particular business. The first thing consumers want is value for their money. If something is not valuable then people do not want to spend a lot of money on it. The second thing, is customer service; No one wants to do business with someone who they can not get in-touch with or with someone who is rude. The third thing consumers want is reliability. Everyone wants to be able to count on something and believe in it before they invest into it. The fourth thing is quality; If things are made very durable, people will spend a higher price on it for longer lasting results. There is a saying that states, "More bang for your buck". Lastly, the fifth thing consumers want is to do business with ease. If business turns into a stressful environment people do not feel conformable, and when people are not conformable they do not stick around.

How a Focus Group Can Help an Entrepreneur

If you are not part of a focus group, then you should totally think about joining one! What exactly is a focus group, you might ask... Well a focus group is a small group who meet up together to discuss different options on a designated topic, and focus on the future actions for that specific plan, by being guided by a trained leader. Focus groups area a great way to stay on task, while getting information and thoughts together on how to reach your goal. This is very a beneficial tool in the business world, especially for entrepreneurs. You would never want to put a lot of time, or money, into a project without getting feedback from your peers. Their opinions can help shape your ideas for the better; By casting out unneeded pieces and adding things you hadn't even thought of yourself, your product was just altered to become the best it could be by the the same type of people that will be future customers. This way, you know your product is up to par and has everything the public would want. Having multiple set of eyes and minds working together are always more inspiring. There is an old phrase that states, "two heads are better than one".

Keeping Track of Good Ideas

Do you keep a log of good ideas? I definitely do; If you do not, you totally should! You can store your good ideas in a notebook or on your electronic device. There are many reasons you should keep up with all your great ideas because it is vital in the business world. By seeing your ideas typed out or wrote down, visually, it can help you think bigger and will help you remember those ideas better. It also frees up your mind for more new ideas. You can also look through these thoroughly and cast out the amateur ideas and maybe even merge some small ideas together to make a more efficient one. Keeping track of your ideas is also good practice for when you have to keep track of all your records when you do own your own business. In the future you will have to keep record your costs, taxes, and legal documents. Keeping track of all these thing helps you manage your business.