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Sunday, May 8, 2011

4 ways to determine what "Business" are you in ?

A marketer MUST know all the 4 ways by which a "Business" is defined. 
  1. what do you make in your factory ( "Industry" definition )
    vacuum cleaner
  2. what use does the customer put it to ( "Use" definition )
    cleaning
  3. where does the product excel ( "Application" definition )
    removing deeply embedded dust
  4. what is the personal motivation ( "Payoff" definition )
    good impression on visitors
Remember there are 3 types of personal payoffs for customers for any purchase 
  • want to achieve something
    Satisfaction that there is no dust in sofa
  • want to fix something
    ( people sitting with white dress complained of dust ) 
  • want to avoid something
    ( people getting a poor impression of housewife )

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