Business & Finance Advertising & sales & Marketing

Basic Element of Business in Knowledge Age

In the world of business in the present global knowledge economy; it is important to arm yourself up to the teeth to make it any business.
Below are the basic elements of business you must know to be thick in success as follows: YOU:You are the fundamental asset of the business.
The most integral parts of every function or operation revolve around your business prowess.
Your personal qualities either good or bad can make or mar your business.
It is important that you have the following good qualities to make your business thick as follows: Honesty, tolerance, presentable, resourceful, creativity, considerate, enthusiasm, hardworking and cheerfulness.
Also, note the following bad qualities will destroy your business as follows: dishonesty, selfishness, laziness, unreliable, pessimistic, fraudulent, extravagant, carelessness, nonchalant, etc.
Good qualities solidify the foundation of your business in the wisdom age while bad quality places a limitation on your business growth and relationship.
THE CUSTOMER:The customer is the king in the market place, and he is always right.
In the market spaces on the web the customer is referred to as traffic.
To succeed in business in the wisdom age, you have to know the following about customers: (a) What group of people are your potential customers (b) How to focus your products and services to meet their needs (c) Customers buy what they need, and only few buy because of your sales pitch.
(d) Customer is a king and always right or you lost him to your close competition in the market (e) Your marketing antics can attract new customers and keep old ones Note, if you must build loyal customers and take your business to the next glorious level- you have to be professional, be punctual, be consistent in quality of your product or service, keep promises, automate your business system and keep learning new things daily.
Nevertheless, the customers consider the following factors to make a request: - Product or service quality - supplier reputation - Product or service price - prompt delivery - quick response to customer's need - Product/service testimonials - Shipment rate competitiveness - service innovativeness - Product/service competitive edge over other close substitutes in the market, etc.
THE PRODUCT/SERVICE: -In the present global knowledge economy, the entire world has shrunk into a neighborhood on the golden platform of the internet.
There is much more competition in the market place than before.
You have to target your product/service to meet the needs of a particular community or niche.
You have to leverage your marketing style from product or service marketing to audience marketing.
It is important you emphasize more on what your audience will benefit from your product/service, and less emphasize on the loads of advantages of your product/services.

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