How to Build Your Small Business Customer Base

The question is asked, “Is the purpose worth while... and time the potential consumer would have

When marketing any kind of product, the producer should take in to consideration the elements that will impact their business. If they can come up with solutions to these problems then they products are more than likely to succeed.

Along with the coming out of hit television shows, movies, and music, technology was advancing a lot too. In 1951, the first IBM Mainframe Computer was built.(Silverman 7) Shortly after

adopted by various companies to influence the masses towards their products at large is part of their marketing strategy . Offering discounts and

The VCR was introduced In 1971 by Philips. VCR stands for video cassette recorder and it revolutionized home movies. It was so revolutionary in fact, that you can still buy them today, though they are packed along with DVD players. The DVD player, even though packaged with the VCR now-a-days, was the downfall of the long reign of the VCR.

It’s an effective way to speak directly to the customers’ needs, while offering them the right product solution.

This is a strategy that can apply to products with consumable supplies. This is where the pricing at high prestige levels, otherwise they will not sell; customers equate higher quality with higher prices.

where fuel is extremely cheap; or distributed a textbook after the beginning of the new school year, or offering a product at a value that is too high – or too low – to pull in the target audience.

If a producer creates a really revolutionary new product and consumers can learn about it and purchase it at a website,

For any innovation, a company needs to ensure it has developed good network relationships in order to obtain support for its innovation. This is because of the generic market acceptance process. The market acceptance process starts with building relationships with the adoption networks, which should start before the innovation is launched and continue after the innovation has been commercialized. Once the product has received backing from the adoption network, early adopters will be willing to purchase the product because of the technological innovation which they would be willing to access for themselves. Once a product has been accepted by the early adopters, and they give it

As the price of the products is comparatively low, that will increase the purchasing power of the customer and they will buy in larger quantity and thus the company gains the profit. (Soni, P. (2016))

however, because it has so many brands under it, users are confused as to specific goal and vision this

Research Reports and Internet Research – The internet is a very easy way to source secondary data that can be extremely useful as it is a good source of industry information. Some information can be available for free like the Australian beau of statistics, newspapers, council and magazines, some help maybe needed in determining the viability of the information and to analyse the results. Other professional research companies like Roy Morgan and Ibisworld will charge a fee for their reports. This may work well with surveys and experiment research as trends or environmental factors in the market could influence consumer consumption therefore giving invaluable information as to what may sell well or is needed in the current market. This method was chosen as it can be easier to obtain and cheaper than the other research methods. It can also provide information on the competition, which would evaluate what products they have been advertising and why.

Thesis Statement: The economy is for ever changing toward what has control of demands, the environment of entrepreneurship is high on the charts, however the small business are surviving equally with the large businesses.

Famous Brands ltd which started in 1955, is currently located in Midrand, Johannesburg and are listed on the Johannesburg Stock exchange, the current price is R1.65 per share. In total the company has over 2.163 franchised stores worldwide, 1881 in South Africa, 172 in other parts of Africa and 110 in the UK. In the last two years Famous brand ltd have opened up 245 restaurants in South Africa. They have become increasingly profitable due to expansion in manufacturing and acquiring more fast food brands. Famous Brands ltd currently holds the status of Africa’s number 1 service and casual dining. Famous brands current operating income is 480 billion rand.