The Business Key

THE RIGHT BUSINESS ATTITUDE ……..3 Practical Steps Of Succeeding Ahead Of Your Competitors
1. KNOW WHAT YOUR TARGET CUSTOMERS ARE LACKING
Foryour products/services to have an edge over other brands in the market, you must know, and provide solution to what the people are lacking. The mistake a lot of manufacturers does is repeating products which are already in the market, and consumers are not deriving satisfaction from.
Consumers usually assess products based on certsin solutions or services that they need. In your industry, you need to know the solutions to the large number of problems consumers are seeking solution for. When you identify this, you target should be meeting these needs–by providing a solution. A company in Nigeria revolutionalised the branding and packaging of powdered milk in the Nigeria market over one and half decade ago. Through the company’s research, it was discovered and known that an average Nigerian could not afford the big or medium sized tin milk. Promasidor Nig. Ltd, started producing Cowbell satchet powdered milk which goes for just 10 Naira. Nobody was left out in the consumption of powdered milk-not even a school child. That single solution rendered by Promasidor skyrocketed her sales, demand from the whole nation; that same break through made Cowbell market leader till date. Thereafter, other products followed-but Promasidor, with its brand, Cowbell is still succeeding ahead of her competitors.

Knowing that a lot of people were not technically sound, and that they needed personal computers they can easily operate at their own convenience, at lower prices than what was obtainable; Apple Computers(founded by Steve Jobs & Steve Wozniak) created the Macintosh personal computer in 1984. This single discovery of Apple Computers to the invention of Macintosh personal computer sold over 2million units in a year after it was released. That is what research does to an organisation. Don’t be quick to produce, identify the reason(s) why you must produce first, what will make your product standout in the market.

2. YOUR ADVERT IS YOUR MOUTH PIECE BEFORE YOUR MARKET
There’s a business sage that says,’ show me your advert and i will tell you tyhat kind of product you have.’ For your organisation to grow, you must have a budgeted plan for advertising in order for you to reach your target market effectively. Also, you must choose the right medium of advert that would bring the expected result. A mere distribution of hand bills, flyers or pamphlets may not do the trick. Why? People are too busy to read and reason on why they must purchase a particular good or patronize your service. From the research carried out by Workplus Human Resource & Business Managers Group: Statistics showed that Nigerians in particular are easily moved by what they see and can hear continuously for up to 7weeks before they make up their minds to respond. You bill boards and posters does little of the trick. Whereas most companies have seized this opportunity researched on to hijacked their market places, hitting and surpassing their targets of 3 years in less than 6 months.
Coca Cola saw ahead(research-power) the global acceptance of the Somalian rapper, K’Naan song ‘Wavin Flag’; commercialised it for its world cup promo. Fortunately, this same song wihich has gained global recognition was adopted by the world football governing body, FIFA as its official song too. With such commercialisation, what impact can you envisage Coca Cola would’ve been receiving the world round?
Advert showcases what you can offer-in fact, it speaks more of the product than the product itself. Having a great product that people don’t know about will not make a company successful. One other thing you must take serious when advertising is for you to know your target consumers’. Don’t just role out money for the project. Know your audience from the start of the whole thing. Try and ascertain their brand, what can attract thier attention, the kind of sounds or sounds that flows with what you are advertising.
Indomies Food has been the market leader in the Noodles Industry for more than 7 years now. No competitors could/can beat their strategies. Indomies from inception knew her target consumers–the Nigeria kids. With children oriented cartoons and adverts, shows sponsorship, children day’s carnival programmes etc, Indomies Food changed Nigeria kids mentality towards food. Ask any kid in your neighbourhood his/her favourite meal, the child won’t let you finish before you’ll hear a thunderous INDOMEEEEEEEEEEEEE!

Know your targeted market(consumers). Be focused with your advert programms thereafter-let the concept of your commercialisation centred on what attracts their interest; you will see your sales or patronage shooting above the root.

3. RESEARCH ON YOUR COMPETITORS
Know how and what your competitors are doing right first; through such research, you will find out what they’re not doing right. Nobody or a body is an island of perfection, there is always room for improvement and advancement. Don’t go with the mind set that nothing can be improved on from what someone else has done. Because there’s dynamism in everything that a man does. Your findings through research is the edge you need to breakthrough. Don’t be quick to forget that the industry you’re about to go into there’re chiefs, actors, undertakers, renowned enterpreneurs who’re already making things to happen in the field. The upper hand you need is uniqueness, branding wth style, differentiation and on-hand information on your operations. DON’T BE SHORT OF INFORMATION. Let there be something about your brand/product that others in the market are lacking-no matter how little or big it is. It could be your pricing, shelf life, packaging, advert campaign, product compositions customer relation campaign(services) etc. Finally, your research methodologies must be decisive and objective centred.