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How much advertising is actually required to reach the target audience?
Better question would be – what kind of advertising is required to reach the (Specific) target audience. It’s not the quantity that comes first, any form of advertising that happens on a platform your target audience is on will help. When it comes to quantity, it is believed that you got to touch your prospect about 7 times to convert him into a customer. Hope that helps, Hardik For more information on business growth and improvement watch my Youtube channel Keep Propelling
What are some business model strategies for retailers to remain competitive?
Retailing business is that of a logistics. Primarily a retailer provides space (with the right ambience) to larger/manufacturing/importing/distributing companies to place their products. There can be many different models constructed to make a retail environment tick. What you must know is two things: What kind of products do you understand and can provide the best ambience to customers in that specific location to make it easy and comfortable for them to buy. What are the different locations where there is a similar demand and I have the power to set up there. If you have a solid answer to these two questions, your next step will be to identify the following: What will you have to do to make sure you are able to meet and exceed the targets set by the principal company you are retailing for? What kind of resources you will need to hit the targets and exceed and how many resources? What will be the resultant cost to do this? How much revenue will you earn? If you are smartly able to execute operations by keeping the cost low and yet be effective in moving products off the shelves whilst making profits you desire. You have got the model right. Hope this helps Thanks, Hardik For more information on how to grow your business visit my Youtube channel: Keep Propelling
Why is it so important to create a best team to achieve a business goal?
You don’t need a best team to achieve a business goal. You actually need the following instead: A team which has the skill to do what needs to be done. Superlative processes and systems to help the team execute with ease whilst managing scale A good enough business idea, the one that solves a real problem for the target customer and yes, remember the target customer must want to solve it and at the price you are offering the solution. Last but the most important. A rational and ever learning, open to possibilities leader. You may have all of the above but if the leader is ineffective nothing works. Yes, I am not saying finance. This comes without an issue, if the above points add up. Hope this helps, Thanks, Hardik For more information on business growth and improvement watch my Youtube channel Keep Propelling
What is the difference between building a brand and building a business?
Quite like your question! “Brand” – This in my opinion is the recall value the name, logo, tag line etc has in the mind of the prospects. Now, whilst I say this, I don’t limit this to just advertising, in-fact to me thats not even primary. If you have to built a brand, you got to work on satisfying the need of your customers. Once you start do that and are consistent at it. Advertising will help you recall that good experience the customer had. It will also help other people who have not used your product but have heard about it from your satisfied customers gain confidence. Now the whole effort to make your customers happy will mean working on your product, which means you will need money and that means you will have to acquire more customers – In short you will have to build a business. So my suggestion is to not think of it as two different things and confuse yourself. Work on satisfying your customers and rest will follow by design. Hope this helped! Hardik For more on how to grow your business follow me on my Youtube channel Keep Propelling
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