When the velocity of cash flow is like a gluttonous bubble, the phrase “market share” is overused without understanding. During recessions the phrase is not used as much. Regardless of good economic times, or bad, the phrase has less relevance to a solid enterprise than sales people think.
A well thought out enterprise defines market by initially answering the question, “Who are the buyers?” The most faithful buyers are buyers who recognize they cannot do without and want what the enterprise is selling. The buyers’ perceived value of what the enterprise sells is greater than the price so the buyers buy.
There is something to sell today, but most importantly tomorrow and days, weeks, months, years, or decades after tomorrow, on which buyers will spend more compared to their spending in the past. A solid enterprise, after identifying buyers, answers “What do the buyers want to buy?”
After the enterprise identifies buyers and identifies what the buyers want to buy then, and only then, should the enterprise figure out how to supply the buyers with what they want. The enterprise must communicate to the buyers that the enterprise has what the buyers want. The bottom line is the enterprise must figure out who to sell to, what to sell, and how to sell it – and in this order.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment