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Changing Your Business Market

Even though entrepreneurs look to be innovative and release new products to their markets, most new business entrants have some reservations of releasing new products, ideas and concepts, because, they just do not know how customers will respond. Notwithstanding all the research and customer surveys that should be done to determine if new products will sell, there is still a level of uncertainty, especially in a recession. However, new products and services are required now to get the economic cycle on our side once again. New business, new millionaires and a new sense of entrepreneurship is required. New products and concepts should be released, as like the human hand, you have the ability to manipulate your markets environment.

Your hands are the chief means of manipulation of the environment and so should your business be structured to manipulate your market. Change what customers like, rather than attempting to satisfy your customers every want and need. Yes, I know, your customer is always right, however, most big companies kill customers to death with ads and promotion which are geared toward making customers them like their products over their competitors products regardless of the customers wants and needs. Large companies are innovative and focus on developing new ideas and the smaller companies are always left playing catch up.

How do we manipulate the market:

We already mentioned advertising as a tool of manipulating the market, but not only should you market our products, but you should market them aggressively, using the means of advertising and promotion that better suits your business.

Use product colors that draw people to your product, for example, bright colors for children toys.

Ensure that the product serves a need or want, but at the same time is a new and fresh idea. Customers will buy your new concept if it at least fills their needs partially and provides functionalities that they never knew they needed.

Your message has to be steady. Do not change your product constantly, but find the winning formula early and run with it to the finish line. Customers already do not like change, so do not provoke them with constant changes to your products after you have made your product based on research and customer surveys. Changes should only be made if the customers have totally rejected your idea.

Products should be multi-functional. If you want to change how your markets response to certain products, ensure that they can serve many purposes. Single purpose items will not encourage change, as people, especially in a recession, are drawn to products that they can use for many different things rather than a product that serves one purpose and usually costs just about the same as multipurpose items.

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