Wednesday, May 7, 2014

Educating Your Market - The Benefits

Earning Factors Wealth Building
Ralph Waldo Emerson once said, "If a man has a good corn or wood, or boards, or pigs, to sell, or can make better chairs or knives, crucibles or church organs, than anybody else, you will find a broad hand-beaten road to his house, though it be in the woods."

While Emerson's statement is making sense, on the other side I don't think it will be possible for the world to beat a path to your door provided that you have the finest mousetrap but still you failed to inform or educate your market. Your market will never know how really good your product is and together its competitive edge compared to its existing counterparts when your potential customers don't have sufficient information of your offering.    

Educate your market

Educating your market is vital to the success of your business. Your market has certain needs that they are quite unaware about. If you successfully inform them these needs, perhaps the best thing that you can be truly proud of is the possibility of contributing something for their future success.

While the power of innovation or innovation itself is important, don't forget that you should also not fail to inform your target market and educate them about your product or service offerings.  It's important that you help them learn something about your product or service and inform them what makes it a cutting edge above the other.

Today, everybody seems to be innovating, trying to create vital changes prior to reaching a certain competitive advantage. This has become the common trend and many are doing it, leading to more attention given to innovation and differentiation strategies, but overlooking the importance of the power linked to educating the market.


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