The Importance of Understanding Your Customer

If you have a business degree or have ever taken a marketing class you know that one of the things that is highly stressed is the importance of target marketing and segmenting your target.  I stress these very same ideals in every marketing class that I have ever taught.  But is target marketing and segmenting enough?  No it is not, you also need to understand your customer.  Targeting and segmenting is extremely important, but so is understanding your customer, these go hand in hand.  How can you market to someone who you do not understand?  In my opinion you really can’t. Continue reading

Don’t Blame Donald Trump

Everyone these days seems to be bagging on “The Donald”, why is that?  I think its jealousy, because jealousy breeds hatred.  He did something most people can only dream about, he created an empire and he is living the dream.  Say what you want about Donald, he’s made billions of dollars and is one of the largest real estate developers in the world, and has attached his name on everything from clothing and colognes to golf courses and wines to one of the most popular television shows in history; you may not like him personally, but you have to admire what he has accomplished. Continue reading

Learning from others

Many start-up’s face the issue of keeping momentum and growth going after dealing with the initial challenge of starting the company. That’s where you can learn from others – no matter that they may not be in the same market or doing the same thing – the business challenge they face will be the same.  A recent article on Springwise identifies some valuable tips. One lesson is to have a game-plan and retain a confident approach.  Aaron Priest, co-founder of Raygun says “Sometimes the best approach you can take in stormy weather is to stay the course. If you planned effectively and strategized properly, then you need to trust yourself. At times, we allowed ourselves to veer from our gameplan and it cost us in resources – both time and financial.” Continue reading