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Showing posts from September, 2019

The World Economy in a Snap Shot

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You may want to check out this snap shot of what the world economy looks like. It is important to remember that this map is based on one set of criteria and if you change how the world economy is measured you change the entire map. https://www.visualcapitalist.com/the-86-trillion-world-economy-in-one-chart/

The Importance of Checking Stats for Marketing Strategy Performance

While we would all love to aim once and shoot to reach a goal often the fluid nature of the business environment does not afford such sureties. The market is always, evolving and changing by the minute. Therefore plans must change as well if they hope to be viable and successful a few years down the road. The problem is that some businesses might not know how to correct their strategies for market misalignment. The primary way to determine if your strategies are working is through feedback. Feedback allows for decision makers to understand more about a situation through information about the performance of the product/service. Such knowledge is gained through market research, customer feedback, web page statistics, and even our competitors. Metrics give us insight. Metric means that some type of measurement is being used in the feedback process. A metric might be how many apples your business sold or how many visitors walked through your door on any particular day. Metrics can be a

Determine the Value of Your Product Through Price and Feature Comparision

Product value is inherent in the cost, design and utility of an item. Value is somewhat subjective because it is influence by the fluctuations in market demand. If you are selling a product and desire to to figure out its $$$ market value then you will have to do some type of market comparison. Be advised that are lots of different ways to evaluate a product and you would do well to go exploring. A simple evaluation of how your product compares to other products on the market can tell you an awful lot about its opportunities for success. The market and what customers are willing to purchase makes a key difference in the overall ability to sell the product for a reasonable value. As those who sell products on Amazon know, if your product isn't close to the lowest then you are not likely to make a lot of sales. The instant price comparison makes differentiation between locations difficult. You Can Compete Beyond Low Price Most consumer gravitate toward the lowest price and othe