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2024-04-03 Businessplan

You have an idea for a business: how should it identify substitutes?

Porter’s analysis still requires thinking about two elements of the market – buyers and substitutes that may threaten your business. I already wrote about buyers a few posts ago. I’ll remind you that it’s about market segmentation, that is, isolating who will be the buyers of your company’s products or services. If at this stage of business planning you have already specified a group of key customers. You can further characterize them by three characteristics: their number, the degree of

2024-03-09 Marketing

Why is it better to sell more expensive and less than cheaper and more? Part 2

In the previous post I wrote I started an example showing why it is better to sell more expensive and less than cheaper and more. Today we will count this example to the end. I also wrote that supply is to offer a good on the market. This is a really important dish that I will return to at some point. Today, however, it will be about, in simple terms, how much you are able to produce products or provide

2024-03-06 Businessplan

You have an idea for a business: where should you sell your products and for how much?

In my previous post I wrote about the first element of the marketing-mix, the product. That was first, and what’s second? Price. If Nowak thinks about business, he imagines the bills he earns. However, they will not appear out of nowhere. It is the correctly determined price of the products in the store that will cause the business to start paying off after a while. The calculated price must take into account many, sometimes conflicting, goals of the company: Prices

2024-03-02 Marketing

Why is it better to sell more expensive and less than cheaper and more? Part 1

In previous posts, I presented how to think through whether you want to sell products or services. Then I showed you based on what criteria you should price your products or services. Now I want to convince you not to follow colloquial opinions or so-called common sense when setting a price. Often such hints come from customers, not entrepreneurs. They express the needs of customers, not entrepreneurs. However, both sides of the transaction play against each other, and what is

2024-02-28 Businessplan

You have an idea for a business: how should you determine what products you will sell?

Before you make your first buck, you need to think about what to sell, for how much, where to sell it and how to let your customers know. At this stage of creating your company’s business plan, you probably already have a roughly formulated mission and goals for the coming year, and a defined group of customers. It all started, of course, with his idea for a great business, but only now it’s time to carefully devise the details of