Market potential in general boils down to a very basic formula. You figure out a customer profile (who you want to target with your marketing) and combine that with the geographic size you want to target (how many of those people are in that area)....
There's no one way to develop and execute an effective marketing campaign, and it can change from location to location. The thing to remember is that your marketing campaign determines the presence your business will have in your area. Your best bet is to actually contact...
Taking on a partner doesn’t always make it easier to run your business and can, in fact, make it more difficult. What you should look for in a partner is somebody who compliments you, and makes up for your weaknesses with their strengths. I know...
It very much depends on your business, but if you're running a small storefront in a local area, then location can be incredibly important. What you need to consider when choosing a location is availability of your prospective clientele, their ability to access your establishment, the...
Marketing is much more than just advertising and selling. It involves learning about the market you want to sell to, understanding what they can afford, and how best to approach them. There are four basic aspects to marketing: product (description of what you’re selling), price...
The threat of new entrants is a constant and consistent one. You have the advantage in that your business is established, but that's no guarantee that a serious threat will not rise up to compete with you. In fact, it's pretty much assured that eventually...
These are not mutually exclusive propositions. To begin with, you should always be learning. Business continues to evolve and you need to know what direction it’s going in and what direction you want to go in to parallel with it while adding your own twist...
Our answer might seem a little incomplete, but we do not know what type of product you are trying to present to children or their age group. Children are among the most highly sought-after marketing demographics in the country. Part of this answer depends on...
Your biggest consideration is going to be local zoning laws. New Jersey is famous (or possibly infamous) for its stringent, varied, and unpredictable zoning laws. As late as last month a company in Hammonton was forced to scrap plans for a solar array on their...
When you say “more customers,” that implies that you have some to begin with. If that's the case, then you have the seeds of new customers already. Start giving referral bonuses to your current customers if they bring new people to your business. Let them...