Creating your unique proposition is just the first step. To be viable, you have to know who is going to buy your product or service. That means doing research to find out who these people are. People who buy buttercream cakes are not the same people who buy whipped cream cakes. People who buy human hair are not the same as those who buy fibre hair.
Thus ultimately, you need to identify and run a survey or activities to identify your customer base.
It is also important to have your competitors’ knowledge. This way you can work out solutions that stands you out. It could even be as little as having a nicer packaging box or bag.
Even if your product is unique, and you know who you are selling to, you must always consider the competition.
Find out who might be your competitors, who might sell similar or new competitive products. Create a marketing strategy that gives you a competitive advantage.
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