Atish HemadeEvery thriving business has a tale of evolution; it's a story of starting small, nailing a niche, and gradually expanding horizons. 🌱
But here's something important to understand: having a customer group that loves your product doesn't always translate to the most lucrative market. Sometimes, you might create an excellent product for a specific group, but if the market size only permits a break-even scenario, then you are not fully tapping into your growth potential.💡
That's where market research, a cornerstone of any successful marketing strategy, comes into play. It might seem challenging because market sizes often rely on data-driven assumptions, but this research is essential to make informed decisions about where to focus your marketing efforts. 📊
In its early days, the Macintosh was perfect for tech enthusiasts, but the tech enthusiast market was limited.
It wasn't until Apple expanded their target market, accompanied by a transformative marketing strategy that truly took off.🚀
It's important to think bigger and consider larger, less-than-perfect customer groups. Their size can significantly boost your bottom line, providing new marketing opportunities and potentially requiring some product tweaks along the way. 📈
In the end, business growth is about balance. It's about creating products that not only resonate with customers but also drive the business towards its financial goals. ⚖