How One Small Business is in Competition with a Boulevard of Brands and MNCs | Extraordinary Business
Can a local, homegrown startup take on the international powerhouse? Could small-town warriors compete with multinational corporations?
As a business owner, how many times during the day do you simply want your staff to “get it done?” Do you find yourself getting frustrated, sitting down (or getting up) and doing the task yourself? What kinds of feelings does this incompetence engender in your line of thinking? Where does it go?
Question 8: Which customer organizations should we target first?
We started the market assessment series to take a deeper look into the best ways to analyze a new market when entering it. From market size and segmentation to competition and profit margins we discussed many crucial aspects of market assessment. In this 8th and final part, we’ll discuss the importance of understanding your ideal customer.
Question 7: What sort of margins are expected in the new market and how do these compare to the overall margins in our company?
In the previous article we discussed the matter of sizing up competitors in the new market. In this seventh part of our market assessment series, we’ll look into another crucial aspect – profit margins.