Note: To get the clear picture, check this account for parts one and two.



WHO IS THE MARKET?



The market is: You, Me and Everyone who is interested in what you have to offer.



Now, a majority of people fail to satisfy market needs, not because they lack determination or they aren't putting in enough effort. But for lack of understanding of the Dynamics of market wants/needs.

To effectively serve the "Market", you have got to know clearly how the market works.

A content market expert John Hall asserts that, "From a business perspective, the Internet has reshaped consumer landscape completely. Suddenly, consumers now have immediate access to product data, consumer reviews, and trusted opinions. Connectivity has empowered people to make informed deliberate purchasing decisions. Instead of being seduced by a charismatic sales pitch, consumers could decide whether a product would fit their individual needs, desires, and lifestyle before even laying hands on it.

He says," To be successful, you need to shift your focus from yourself and your products or service outward onto the people who matter."

It's not Me, It's You.

John Hall_ Top Of Mind[Recommended Read]

The basic idea behind the concept of Value creation is asking yourself; "How can I make someone else's life a little better?". This is where market needs come into play. According to Google, "understanding consumer intent and meeting their needs in the moment are the keys to winning more hearts, minds and dollars.

You should understand that the market doesn't care about you, or what you have to offer per se. It's only concern is about it's self, what it's needs are; and how to satisfy those needs.

Remember in part one, I said that; Only the market decides what is valuable to it, and when it recognises the value you possess, you are paid for it.

Ever experienced a sales person who wanted to force a product or service you did not want down your throat? How did you react? Or take for instance, a banker that decides he wants to work as an oil rig engineer [that is just an absurdity]. In both cases, Supply doesn't match Demand.

There are numerous examples to prove this. The Entertainment industry is a booming industry today because it provides us a sort of escape from our problems that seemingly won't go away. What about your favorite brands? and a host of others.. They remain relevant till date, cause they continually serve our need for them.. though individual needs vary.

Understand this: It is important that you are able to identify what your people's wants are, and then try to meet them or solve them. Only when you understand market demands, can you supply effectively. In other words, the focus remains on them, not yourself. Think to yourself, "How can I become valuable or provide value to my market?"

In order to be able to answer that question, you have to answer these questions effectively also: "Where is my Target Market?" (specific Target), where they are basically helps you focus your attention specifically in those areas... "How does what I have make life better for them?". How does your products benefit them, or what service are you offering that solves an immediate need.



A life is not important except the impact it has on another life.

Jackie Robinson



Take for instance, I'm a Writer. I write, not for myself but for my target audience(the ones who want to be motivated and be inspired). The question I continually ask myself is; how can I have a meaningful impact on my audience__making their lives a little better__Consequently, I do so by sharing knowledge I have gathered over the years. As long as I continue to do so over a long period consistently [checkout part 2: Time], then I become Valuable to them[part1: Value]. Be you a Comedian, a photographer; name it. The question remains the same.



HOW TO MEET MARKET NEEDS



I must reiterate the fact that the market does not care about your products, services; and even passions. Any purchase or interest, is made based on personal needs and desires. So if you want to be able to create wealth, you have to know clearly, by identifying what constitutes Value to the people who matter, and then try to satisfy them. Wealthy business brands know this, that's why they make so much profit. Take Amazon for example, it solves a billion dollar problem in trying to make life easier for it's customers, hence they are a mega business brand. Practically every business is centered around value creation.



One of the limiting causes of lack of progress in most endeavors, is the fact that we always think, "How can I make more money for myself," rather than "How can I make your life a little easier." John Hall makes a point to note. He says; when you make someone else's life better consistently, you become "Top Of Mind". That is, you are the first person he or she thinks of when that they desire to have a problem solved, thereby making you a person of Value.. subsequently, you get paid for that Value you provide.



Then your question is: How do I identify these needs? and how do I meet them?

Let me give you a little insight.



First, Listen: You can identify those problems, by being attentive to what people are echoing around you. Learn to develop a habit of conscious listening. When you have identified the Demand, Supply! Give Give Give.. that is, a giving ratio of three to one. Give three times; and just maybe you'll be given back once.



Imperfect world equates perfect opportunity.

Mj DeMarco



Secondly, Attract: Attract your Target Market by offering something that will make them interested in what you have for them. Is it information you can share?, is it referral to other products or services outside yours where they can get quality? Or even finding ways to make what you have entertaining; and become more interesting to them. Whatever you have to do, do it. This is in order to be able to stand out from the competition. Not as a marketing gimmick, but by being genuinely interested in offering quality to them.



There is nothing in the world that can't be made better.

Jack Valente



Thirdly, Be Consistent: Consistency breeds a sort of familiarity with your market that cements you as a favourite over time. Short Value span, equates no real value (part two).

Once you are able to continually serve market needs, they begin to really see you, then maybe they'll begin to do business with you because you have broken the trust barrier.



This is the question successful people ask themselves: "How do I make my boss's work easier?" Equals Value.

"How do I give the fans value for their money's worth?" Equals Top performance which also equates Value.

"How do I make my customer's life easier!" Equates quality service and this in turn equates Value.



If you can tangibly improve the quality of life of your target market, even in the minutest way, they may begin to think of you as a positive force in their lives.

John Hall



Next, we are going to treat very importantly, the topic of Effort. So much depends on your Efforts; and Lastly

Execution.



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