Who is your target market? Knowing the answer to these questions you can answer a lot of questions that come when she will develop a marketing strategy. Richard Thalheimer understood his market for Sharper Image, probably as good as they understand themselves. From an article in LA Times, Tracy Wan, who was president and chief operations under Thalheimer said “Richard has the uncanny ability to understand the things people want.” This ability to sense the desire of consumers may only be a result of knowing as if they were their neighbors. 3. Create a marketing strategy. How do you talk to these people? This is a culmination of understanding your brand and its consumers.
As mentioned in section 2, to understand their consumers respond a lot of questions regarding its marketing strategy: Where should place their ads? What is the voice of your brand? What is the kind of prices that are reasonable for this demographic? In order to attract their customers, sell your product to them, you should know where their ads will be noticed, how to talk to them, and how can they spend, among many other things. In fact, this step should be combined with the last, because knowing what your market defines its marketing strategy completely. 4. Learn by examples. Search advice for those who have already done.
There are many books written by professionals who have already started their own business and have been very successful. One that comes to mind immediately, as we talked about it twice, is Richard Thalheimer. In “Creating Your Own Sharper Image” shares the story of how he grew his small office supply company, The Sharper Image, the successful company it is today. Remember, building a successful business is not just about dollars and cents. The balance between its brand and its ability to attract consumers, is possible only through the understanding of both. Assuming that there is a demand for your product, and you can compete with other brands, following these four steps will guide you in the right direction.