To run
a successful business you need to know all about your potential and
existing customers and the marketplace you operate in. Regularly assess
who your competitors are, their strengths and weaknesses, who your
customers are and what they want, and whether there are any gaps in
the market.
Get as much information as possible from a variety of sources to help
you understand your marketplace. Find out about economic and industry
trends, customer requirements, newly released products and what your
competitors are doing.
Remember that marketing is essential to any business - it’s
important to make marketing part of your ongoing business plan.
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