Marketing Archives

Why You Should Focus on Your Smallest Viable Market (Seth Godin)

How to Find Your Target Audience and Competitors

Should you try to sell your product to everyone? What’s the best way to allocate your marketing budget? Seth Godin says that, to be effective at marketing, you must first understand what people need and then seek to fill that need. But, you can’t be all things to all people, so you must apply focus to your marketing efforts. You have to identify your core audience and serve them well. Read more to understand what Godin means by your “smallest viable market.”

How to Motivate Customers to Act: Tips From Seth Godin

What kind of pressure should you put on customers and potential customers? How can you get them to move toward your product and not away from it? In This Is Marketing, marketing expert Seth Godin contends that effective marketing is ultimately about changing people’s lives. But, to do that, you must do the basic work of convincing them to buy what you’re selling. Read more to learn how to motivate customers to take action with insights from Godin.

Problem-Solving Marketing: Why You Must Provide Solutions

What should you do first—create a product or figure out how to sell it? Why do people buy products? Everyone has problems, needs, and desires. Entrepreneur and marketing expert Seth Godin says that effective business people know how to tap into those—creating products that solve customers’ problems and fill their wants and needs. Keep reading to learn why Godin promotes problem-solving marketing.

Competitive Strategy by Michael Porter: Book Overview

What is Competitive Strategy by Michael Porter about? Do you want a competitive edge in the business world? In Competitive Strategy, Michael Porter demonstrates how to get your business in the lead. Doing so requires a certain level of competitiveness that puts your business first. Read below for a brief overview of Competitive Strategy.

The 4 Basic Principles of Marketing in the Modern Age (Seth Godin)

Who makes up your smallest viable market? What do they truly want and need? Should you adjust your product story over time? In This Is Marketing, Seth Godin says that old marketing techniques no longer work. He outlines his guiding principles of marketing in the modern age: create something of value, focus on your smallest viable market, match your story to the story your audience tells themselves, and leverage word of mouth. Continue reading to learn about each of these four basic principles of marketing.

The Influence of Suppliers on Marketing & Business Strategies

What’s the role of suppliers in marketing? How much influence do suppliers have over pricing? In Competitive Strategy, Michael Porter explains that suppliers with substantial influence can dictate pricing, product quality, and availability. For example, in the diamond industry, a few large diamond mining companies exert significant influence over jewelry manufacturers and vendors by dictating prices, setting quality standards, and restricting sales. Let’s look at the number of conditions that enhance supplier influence over a market.

Competitive Market Research: 4 Areas of Companies to Study

How do you perform competitive market research? How can studying other businesses improve yours? According to Michael Porter’s book Competitive Strategy, researching your competitors will benefit you in two ways. First, it will enable you to create effective countermoves to their strategies. Second, it will help you anticipate their responses to your strategic initiatives. Let’s explore the insights you’ll gain by performing competitive market research.

3 Ways to Gain a Competitive Advantage in Business

Does your business need revamping? Do you want to gain a competitive advantage in business? The goal of every business is to outperform its competitors. Competitive Advantage by Michael Porter suggests that you align your operational procedures with one of three strategies: set lower prices, offer something unique, and target niche markets. Discover how to implement each of these strategies.

Differentiation in Business: How to Stand Out From Competitors

Do you want your business to stand out from the rest? How can you practice differentiation in business? To gain a competitive advantage in the market, your business has to offer something unique from other businesses. Additionally, you need to target niche markets that your product specifically caters to. Let’s look at how to make your business one of a kind to draw more consumers in.

Permission Marketing by Seth Godin: Overview & Takeaways

Do you find a lot of advertising intrusive? Do you want to market your product or service without annoying prospective customers? Often, disruptive advertisements can feel more obnoxious than persuasive. In Permission Marketing, Seth Godin says there’s a better way for brands to get the attention of potential customers. Keep reading for an overview of Permission Marketing, which shows you how to create marketing that customers actually ask to see.