21 Common Hand Signs & Gestures (& What They Mean)
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QuestionHow do you brainstorm for customer segmentation?
Archana Ramamoorthy, MSArchana Ramamoorthy is a Tech Executive based in Sunnyvale, California. She currently serves as Senior Director of Google’s Cloud Security Product Management division. Prior to her current role, Archana held leadership roles at multiple technology companies and has over 15 years of experience in the industry. Prior to her role at Google, she was at Workday for 8 years, culminating her time there in the role of Chief Technology Officer, North America. She is a product ninja and online security advocate. She also actively works to enable more diversity and inclusion in the tech industry. In 2021, she was a founder partner in Neythri Futures Fund, the first fund with a mission to increase the diversity quotient in the venture capital ecosystem. In particular, Neythri Futures Fund positions South Asian women to be key investors and stakeholders in the industry. Archana received a BS in Electronics and Communication Engineering from SRM University and an MS in Electrical and Computer Engineering from Duke University.
Tech ExecutiveWhile it's common for people to immediately focus on who will be buying the product, it's helpful to drill down lower and consider who will actually be using the product. So instead of focusing on who you're going to sell your product to, think about the problems that the actual users of your product might have and cater to them. -
QuestionWhat are market segments?
Community AnswerMarket segmentation is a marketing strategy which involves dividing a broad target market into subsets of consumers, businesses, or countries that have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them. -
QuestionHow do I break into an already existing market?
Community AnswerCome out with unique products and services that are different from what is commonly done in the Market, and this can be better achieved when properly segmenting target markets (Clients or Customers) to understand their needs and find ways of satisfying them better than your competitors in the market.
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QuestionHow do I minimize the advertising costs for a new business?
Sachin DubeerCommunity AnswerTry using the word of mouth. It's helpful and free. However, you have to give out an extraordinary service. Typically, a satisfied customer tells 10 people about his experience, but a unsatisfied customer tells 100 people about his experience. -
QuestionHow can I get a processing machine at a reasonable rate if I use local fabrication?
Niyi AdelusolaCommunity AnswerYou can purchase a fairly used processing machine. This should come far cheaper, and afterwards you can go for a brand new one from the profit generated by the used machine. -
QuestionHow should I segment my products in a highly competitive market?
Community AnswerApply a competitive profile matrix (CPM) tool to identify the strengths and weaknesses of your competitors on critical success factors. Then, design your winning mechanisms based on the results. -
QuestionAfter segmenting the market and finding out that there is no serious competition due to the low income of the market size, what strategy can one deploy?
Community AnswerPrice the product accordingly and further segment the market according to demographics (such as household size, income levels, educational levels, etc.) in order to understand what the market can afford.
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QuestionHow can a business grow when the production is far from where the products are needed?
Community AnswerWhen the manufacturing unit is far from the point of sale you should have a nearby warehouse, where you can store the products.
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QuestionWhat are the best methods for marketing our product?
ADEOYE VICTORIACommunity AnswerHire a marketing research agency to conduct phone surveys among customers, create and use a slogan for your product with a logo or trademarks for greater recognition among customers and non-buying consumers (the ones you are trying to attract); create a website for your products so that consumers can read more about them.
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QuestionThe idea of knowing a customer, and the market is constrained much with capital. What can be done for most enterpreneurs to enable them with capital at no or very minimal loan interests?
ADEOYE VICTORIACommunity AnswerFirst of all, advising the enterpreneurs to not start with loan, but they can start by saving some amount of money for three to four months. Then after, they can start with a small amount of money, and keep proper recording in order to increase the business.
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QuestionHow can I connect to African fashion designers in Europe?
ADEOYE VICTORIACommunity AnswerBy creating a website for your fashion designers, so that Europe can read more about you. Offer coupons and special deals, so that people over there can download them.
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QuestionHow do I segment a product market into sub-markets?
Community AnswerYou can segment a product into sub-markets by understanding what the market requires, the size of the market, and the quality of the product. This will enable you to better understand which segment of the market to target with which product.
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QuestionHow can I get capital to help my business grow?
James KalubaCommunity AnswerYou can talk to family and friends! If your idea/business is promising enough, some people are always willing to fund. You can also be on the look-out for business competitions. There is always one running, whether local or international. -
QuestionHow could a manufacturer segment a market?
Community AnswerThey could segment a market by age, social class, gender, etc. There are many different possibilities. -
QuestionHow can I characterize the performance of capital markets in a certain segment?
Community AnswerBy understanding the demographics and geographies versus the projected competition and demand for the product.
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QuestionMy complete soup gravy cuts out the process of individual step by step cooking, but I don't know a thing about marketing or pricing. Where can I get guidance?
Community AnswerStart with a simple google search for small business marketing advice and find out which options work for you. There are books, seminars, and consultants available.
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QuestionHow can I make people embrace my jewelry brand?
Community AnswerMake a good product and have a strong marketing strategy.
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QuestionWhat strategies can I use to reach the decision makers in very big cooperates/companies if I want to sell my product to them?
Community AnswerMost large companies have departments that specialize in finding new suppliers and/or products and services that might be of interest to them. This could be the purchasing department or the marketing department, and often they will explain their methods on their website. If not, you can get a lot of information by phoning or emailing to ask your questions. Many people think that dealing with a large company is more difficult than smaller companies, but this is often not the case. People in small companies often have many different tasks and have less reliable information or time to answer questions. -
QuestionDoes this analysis consider financial resources involved in this segmentation process, or is it an assumption that resources are available to access data?
Community AnswerThere is an assumption that some publicly available data should be easily accessible. However, some niche data on competitors might not be easy to obtain and might need purchasing from bodies such as the marketing council, the producers' association, and local stock-exchange data. This exercise could be quite expensive.
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QuestionHow can someone organize community education after identifying the target age, agenda, location, and so on without spending much to visit various target locations?
Community AnswerOne can compute and analyze the proportions of the different variables to see which has the highest likelihood of making or giving the best results for the product. This can be done by balancing the geography with the cost of transport if markets are far away from the production center.
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QuestionHow can I start my sewing company business in Europe?
Community AnswerYou need to carry out a feasibility study, where you will determine potential location, access to clientele, etc., then how it fits into your business plan.
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QuestionIn market segmentation according to step 1, which suggest demographics, geography, life stage, psychographics or life style evaluation, can I use two out of this evaluation strategy or just one?
Community AnswerAn entrepreneur can use more than one evaluation strategy depending on his product.
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QuestionHow can you have cultivation and export of egusi around Africa and beyond?
Community AnswerYou can start from sourcing from existing melon (egusi) farmers once you have a ready market. And then scale up to cultivating the seed if the demand outstrips your supply.
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QuestionHow do I convince the people that are within my market segment, but are yet to value my products, to purchase from me, in order to increase my market size?
Sandra Mukosolu AniekweCommunity AnswerConvincing people to change from a product to another is usually not easy. Identify the product they use, compare it with your product and get information that will convince them that your product can serve them better. Info like cost, content, availability, etc. A face to face chat with customers helps you to note the customer's reaction.
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QuestionHow can I brand, process, and package my livestock product, which is goat meat, to customers beyond my locality?
Community AnswerThe place of branding is very vital in business. Brands are logos; they are the emotional associations we have with a company. They are the psychological value of a company, designed to outlast products by creating a powerful identity both inside and outside of the company. You could brand the goat meat products on a white and thick nylon for transparency, so that the customers need not to open it before seeing what is inside. This goat meat will be treated with some chemicals for preservation, neatly stored inside deep freeze and it will still fresh and odourless, so it remains appealing to customers.
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QuestionHow do I minimise risk-phobia as an entrepreneur?
Community AnswerThe major ways to minimise risk-phobia as an entrepreneur is through skillful analysis of your daily operations and careful management of finances before transacting any deal.
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QuestionHow do I find partners in an environment where people are afraid to invest in entrepreneurship?
Community AnswerTake a well considered risk for a well researched market and demonstrate profitability. Once you've done that, partners will come looking for you on their own.
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QuestionHow do I find partners in an environment where people are afraid to invest in entrepreneurship?
Community AnswerCreate something that will give your partners ideas. Introduce a product they usually need or buy from far places and make it available near you! And try to put forth a great overall message and big picture to one person as a start!
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QuestionHow do you create better marketing networks for a business that is locally based and that wants to expand to regional markets?
Steve LambertCommunity AnswerMake sure you meet up to the international standards in your business, conduct person-to-person awareness, penetrate the community with your product by encouraging them to give it a trial, employ the youth to assist you in reaching out to customers, and make sure your produced is cost effective.
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QuestionHow do I segment the market of a product with regional inclination against an alternative that is universal?
Steve LambertCommunity AnswerHire an expert who will help you segment customers, through phone contact, internet and direct connection with customers across the regions.
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