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Business strategy
Know the place of the Brand in the Market
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[QUOTE="raaman, post: 308832, member: 23419"] Know the place of the brand in the market. Before learning how to create a brand from scratch, the business owner must analyze the scenario in which it will be created and cultivated. For this, he must know his area of activity, his competitors, suppliers and, mainly, his customers. A good starting point is to analyze the competitors' feedback. After that, they can assess how they communicate with the public. They have to understand the means used for this interaction in which they are more successful. Be sure to also check the prices and the way they organize the work. Regarding suppliers, it is essential to look for experienced people. Those people who have experience in the field of your company are good for the business, since they can help grow the business. This information can be obtained from the competition itself, through a satisfaction survey among customers of certain suppliers. With regard to consumers, it is important to understand. You should know what the customer’s interests are. Through a competitor analysis, you can find out who your target audience is, what their consumption habits are, how much they spend per month, how they prefer to pay and what they expect from a product or a brand, for example. [/QUOTE]
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