Customer Profile

Just as a mission statement guides the operation of your company, a customer profile will guide your sales effort. Develop an overview of your target customers so that you're clear about whom you are selling to. The profile should include demographic and psychographic information - as well as behavioristic information - the factors that identify the reasons why someone wants to buy your product or service.

  Play Audio Tip
 

Competitive Analysis

When performing a competitive analysis, start by analyzing your own company - begin with strong points and advantages from your point of view - and that of your customers. Then consider your company's weaknesses. What does your company do poorly, what improvements can be made, what threats does your company face. Its best to be realistic and face any unpleasant truths as soon as possible.

Play Audio Tip



Proper Pricing

How do you know if you've priced your products or services properly? Ask yourself some questions. How do your prices compare to the competition's. How do customers perceive your prices. Do you have a product with a recognizable name that allows the luxury of overpricing. Of course you also have to consider your costs of production. .

Play Audio Tip