We're back with Episode 92, which is Part 5 of a multi-part series on "
How to Start a Business" which is also a great series for business owners and leaders who need to revamp, reinvent, reignite, reimagine their current business model and outputs.
Meeting Agenda- We recap Part 1 [Ep 88], Part 2 [Ep 89], Part 3 [Ep 90], and Part 4 [Ep 91]
- You should have completed at least 50% of the work from your homework assignments.
- Diving deeper into Business Plan Research [looking at the groundwork we laid in Part 2 Episode 89]
- Competitive Landscape
- Market Gaps
- Defining Target Market, data points, and approaches for B2B and B2C companies
- Taking your visualizations and forming them into concrete ideas to run with
- Questions to ask and answer about your competition (which are possibly also companies that you admire.)
- Industry trends research
- Brand offers, price points, and value propositions
- Market penetration, profit optimization, testing pricing limits, competitors' pricing strategies, staying ahead of strategies that can undercut your prices
- Challenges with analyzing competitor pricing
- Customer Experience: Your competition's efforts and track record versus your own
- Customer Experience Platforms [a sample list] and the Do's and Dont's:
- Zendesk, Response Tek, IBM TeaLead, Clicktale, Satmetrix, Adobe Experience Manager, Clarabridge, SAS Adaptive Customer Experience, Hubspot
- Other ways to collect data on competition
- Customer Education
- Reiterating the value of reviewing competition's customer reviews
- Wooing competition's customers
- CRM
- A lot more...and yes, you have homework!
Listen, Learn, and Take Notes!SHOW INFORMATION:
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https://youtube.com/user/ForemanAssociates HOST: Natasha L. Foreman, Managing Director, Foreman & Associates, LLC
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https://linkedin.com/in/NatashaLForeman Theme Song: “Higher Up” by Shane Ivers
Business Shout-Out Segment Song: “Pulsar” by Shane Ivers
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