Post by account_disabled on Mar 5, 2024 5:28:25 GMT
The run a very popular way to expand market share. More flavors means more market share. It sounds good but it doesn't work that well. New products under the same brand are usually not successful in the long run but bring in substantial profits in the short term. The antidote to brand expansion is entrepreneurial courage and the production of goods but not much scope. The Law of Sacrifice In order to gain something we must give something up. Three things you can sacrifice are product target market or constant change.
A rich product line is a guarantee of failure. If you want to be successful you need to shrink your production line not expand it. Companies that don't specialize in any area usually don't succeed. The market The market is not the goal. This means that the target of your marketing is not the people who will actually buy Belize Mobile Number List your product. Although Pepsi's target market is teenagers its products are purchased by people of all ages. Constant Change Who says you have to change your strategy every year when you review your business results? Trying to keep up with all the marketing twists and turns can take you off track.
The easiest way to maintain a stable position is not to change it. The Law of Traits For every trait we can find a valid opposite trait. It’s much better to find features that are the opposite of your competitors’ products because you’ll be competing against them. The keyword is opposite similarity will not bring you success. Marketing is a battle of ideas. So if you want to be successful you need to have an idea or focus on one feature to focus your entire marketing on. But you might think that not all traits are created equal. It’s true that some customers consider it more important than others. Try choosing the most important features of