A marketing plan through comprehensive research and analysis finds your target audience and organises the tactics and strategies you will use to engage them. It also helps you keep track and measure the success of your campaigns.

I will not bore you with the definitions of Marketing and Sales Plan as it was covered in a previous article.

Here, we will show you how to write a marketing plan for your business. Follow all the steps below and you will have your marketing plan.

1. Research Your Market
It’s all good that you are pumped and ready to write your marketing plan, but the first step isn’t writing, it is research. You need to find out how viable your product is. Will it be accepted and who will you be marketing to.

You need to find out where your customers are and what value you will be giving to them. What will you offer that is different from your competitors? The answers will form the basis for your SWOT analysis, which is included in your marketing plan.

2. State Your Business’s Mission
For example, Entrepreneurs.ng’s mission is to be everything to the entrepreneur. So, our marketing mission then becomes attracting entrepreneurs, educating them and offering services through business registration, consulting services, business clinics, book sales and other entrepreneurial services. Your business mission should be specific to the services you offer..... Read more here https://www.entrepreneurs.ng/marketing-plan/

Startups and small businesses are the bedrock of economies. That is because small businesses provide employment for people when the government and big private companies cannot. Additionally, small businesses help solve problems in society. More importantly, small businesses help entrepreneurs to become self-reliant and become economically viable citizens.

It is due to the positives that many Nigerians have become more interested in entrepreneurship and running their own businesses. However, due to the harsh realities of the economy in Nigeria and many other African nations, individuals looking to start small businesses do not have enough capital to venture into entrepreneurship.

As a result of the above, please do find below 10 legit businesses you can start with 50k or less in 2022.... https://www.entrepreneurs.ng/10-businesses-you-can-start-with-50k-in-nigeria/

The Common Fund For Commodities is inviting applications for support of commodity development activities in its member countries. This is the 16th call for proposal by Common Fund For Commodities. The call is for innovative projects with a difference to be funded.

The Common Fund For Commodities (CFC) is an autonomous intergovernmental financial institution established within the framework of the United Nations. From 1976 to 1980, at the United Nations Conference on Trade and Development (UNCTAD), the agreement that established the Common Fund For Commodities was negotiated. In 1991, the first commodity development project was approved.

The Common Fund For Commodities provides a range of financial and technical instruments. These support projects proposed by cooperatives, enterprises and institutions along the entire commodity value chain in its member countries.

GroFin Finance & Business Support Is Seeking Application From SMEs And Entrepreneurs

GroFin is seeking applications from SMEs and entrepreneurs. They are an award-winning organisation with more than 16 years’ experience. It started in 1999 and has 14 offices across Africa and the Middle East.

GroFin has partnerships with experienced organisations like SGB Fund. To date, GroFin has undertaken 825 client deals and provided business support to over 7,000 entrepreneurs with a success rate of over 80%.

What Does GroFin Offer

They offer a combination of finance, expert business support, and guidance to entrepreneurs and business owners. The finance is customised to suit the unique circumstances of each entrepreneur or business owner.

Hence, with GroFin, you get more than finance. Experts are available to you to increase your chances of success. The experts manage issues that potentially threaten your business’s ability to succeed. Also, guidance and support are provided to ensure your business drives positive cash flow.

Microsoft Global Social Entrepreneurship Program Is Supporting Social Entrepreneurs – Apply

Microsoft Global Social Entrepreneurship Program is calling for applications from social impact startups from across the globe. This is an opportunity for innovators to impact the world.

Generally, the initiative is passionate about supporting social ventures with values to help their team thrive. Also, it aims to unlock the creative potential of social entrepreneurs and accelerate their impact.

So, if you are an entrepreneur driving social impact with your business, apply for this. >>>https://www.entrepreneurs.ng/microsoft-global-social-entrepreneurship-program/

The 2021 edition of the Zayed Sustainability Prize is now open for application submission. This is a prize award for those who are driving innovative, impactful, and inspirational sustainability solutions in five distinct areas; Health, Food, Energy, Water, and Global High Schools.

Basically, it is recognizing pioneering solutions and technologies that can change the world. Therefore, if you have innovative solutions in the area of health, food, energy, and water or you are guiding high school students to implement solutions in these areas, this is for you.

The Zayed Sustainability Prize fund is organised by the Abu Dhabi Government in honor of the founding father of the United Arab Emirates, Late Sheik Zayed bin Sultan Al Nahyan. It is organised to honor and continue his sustainability and humanitarian legacy.

It was implemented in 2008, and the first award ceremony was held in 2009. Since then, the Zayed Sustainability Prize has rewarded innovators and visionaries whose achievements have furthered the global proliferation of innovative, impactful and inspirational sustainability solutions.

Altogether, over 318 million people have been directly and indirectly impacted by the sustainability solutions including school projects of the 76 recipients of the Prize winners.

Keep reading >>>https://www.entrepreneurs.ng/zayed-sustainability-prize-submission-of-application-for-global-innovators-is-ongoing/

Are you a startup leveraging remote sensing to create value in agriculture and infrastructure, Africa4Future Aerospace Accelerator Program 2020 is for you. This is a joint accelerator program between Airbus Bizlab, a global network of aerospace accelerators, and Make-IT in Africa, a program by GIZ, the German agency for International cooperation.

This is an accelerator program for Africans with the aim to support entrepreneurship in Africa and, also to build bridges between the aerospace industry and the different players in Africa.

Apply now >>>https://www.entrepreneurs.ng/africa4future-aerospace-accelerator-program-2020-for-african-startups/

The United Nations Environmental Programme (UNEP) is calling for applications for the Young Champions of the Earth 2020. This is an amazing opportunity for brilliant young environmentalists to change the world. The application window is now open till 10 April 2020.

The aim of the initiative is to celebrate and support young environmentalists between ages 18 and 30. Also, it is an opportunity for artists, scientists, economists, communicators and entrepreneurs from all walks of life. It’s for those with big, bold ideas – for the environment, for humanity, and for a greener future.

Apply now>>> https://www.entrepreneurs.ng/apply-now-for-the-united-nations-young-champions-of-the-earth-2020/

Are you a startup with an innovation that can end hunger? The World Food Programme is seeking applications for the WFP Innovation Accelerator. This is an opportunity to participate in the Cohort II of the Accelerator Programme and the window will close on 20th March 2020.

Basically, this opportunity is for startups and WFP employees with great innovations to end hunger. During the program, WFP will work with entrepreneurs, companies, and NGOs to build solutions that will disrupt hunger.

Keep reading >>>https://www.entrepreneurs.ng/wfp-innovation-accelerator-application-is-on-for-world-food-programme/

ebenezary:
Is it for every body

read it up in the link provided. All your questions are answered there

I'm sure you've heard times without number that entrepreneurship helps create wealth. Even though there are other means to create wealth, many want to create theirs through entrepreneurship.

In truth, entrepreneurship done right can help you build wealth. A fundamental question however is, why are many then failing in business?

Well, among several factors, there are qualities an entrepreneur must possess to be positioned for business success. These qualities have been highlighted by entrepreneurs.ng. Check the list below�

1. An entrepreneur must be creative
2. He/She must be a risk-taker
3. Must be a leader
4. Must be accountable
5. A sound decision-maker
6. A problem solver
7. Self-confident
8. Knowledgeable
9. Passionate
10. Must be able to sell

With the above quality, an entrepreneur is on his/her way of creating wealth.

Application for the United Nations Global Climate Action Award is ongoing. The portal opened on the 5th of February, 2020 and is open till the 30th of April, 2020.

The United Nation’s Global Climate Action Award is spearheaded by UN Climate Change’s Momentum for Change initiative and shines a light on the most innovative, scalable and replicable examples of what people around the world are doing to tackle climate change.

Are you an entrepreneur leading a result-driven project, that is successfully addressing climate change? Then the United Nations is searching for you.

Climate change negotiations can be serious, complicated and slow. Therefore, you don’t need to wait for high-level protocols to take action. Because, if we continue to wait, so many endangered species will go into extinction.

Continue reading >>>https://www.entrepreneurs.ng/2020-united-nation-global-climate-action-award-application-is-ongoing/

The thing about NGOs, for the most part, is that people have learnt not to trust them.

Or maybe it’s just the dishonesty in a lot of us. We cheat people day in day out, so we expect to be cheated.

However, if you consider the statistics, you will see the rationale behind this act of distrust. For example, Wyclef – Haitian earthquake relief fund scandal in which his charity, Yele, was indicted for fraud allegations and debt after mishandling funds amounting to $16 million. Also, in the US alone, several cancer charities have been dissolved following the same reasons – misappropriating funds.

But then that kind of mentality puts well-meaning NGOs in a quandary. How are they supposed to raise money, without which they cannot do anything?

In my opinion, It wouldn’t be a bad idea for NGOs to organize fundraisers. It could be a celebrity match or auction of artworks created by kids. There could be essay competitions for the children/victims with prizes provided by the general public. The Mirabel Centre could have a celebrity debate between some of their ambassadors (Bimbo Akintola is one) or even between their ambassadors and students of a school, and people buy tickets to watch. High profile chess or scrabble competitions can also be organised such the public is informed about it and can support whatever way they can.

What's your opinion?

https://www.entrepreneurs.ng/ngos-are-non-governmental-organisations-raising-funds-or-hell/

As an entrepreneur, you must understand sometimes, it's like you cannot afford to take a moment off work or lose sight of the goal. Because there’s always something to do.

And yet because we’re human, there are times we’re too tired or too stressed or too jaded or too listless or generally too ‘too’. Sometimes we’re just not inspired to do anything; even watching TV seems like too much stress. We cannot seem to get ourselves together; we cannot seem to move from point A to B as easily as we did yesterday. Yet there’s work to be done. How do we do it?

1. Visualise

Before you start any project, whether personal or paid, always have a picture of what you intend to achieve with it – to generate conversation or make a bestsellers’ list or just to increase your account balance. When the "why" of is known and is clear, the how becomes easy.

2. Plan

Embrace the attitude of planning. Always have a timetable. Always. We all know things hardly ever go according to plan, especially when we’re dealing with factors entirely beyond our control. A plan shows you have dedication. A plan means you intend to do it no matter what.

3. Turn Off/Disconnect

This is important to your productivity because it keeps you fresh and aware. As a creative, I require lots and lots of silence – even when I’m working. I like to turn my phones off so everything is controlled and at an even keel. There are no surprises; no unpleasant interruptions or conversations for that matter. It’s important to keep yourself in a place, at least mentally, where you can work.

Keep reading >>>https://www.entrepreneurs.ng/how-to-get-more-work-done/

It is imperative that business owners know the type of business they are running. This knowledge will help you know what is obtainable at that level so that your growth can be steady.

Basically, there are four types of entrepreneurial ventures according to Steve Blank. Steve Blank has written some of the most thought-provoking books on entrepreneurship. You should read The Four Steps to the Epiphany and The Startup Owner’s Manual.

1. Small Business Owner

Actually, many business owners fall into this category. The practice is usually a small operation delivering a specific or limited range of products or services. You don't necessarily have to be the one running the business. Hence, you can be a full-time employee and still run it by the side.

You can have a group of employees or teams who you will distribute duties to accordingly and they'll deliver to you as agreed. The goal actually is to build a secondary source of income. The beautiful thing about small businesses is that it can grow into a big business if well sustained.

2. Scalable Start-up

This is a kind of business that has high growth potential. They usually have high adoption rates, high engagement rates, high revenue rates, etc. There’s something about the product or service that sticks and causes it to go viral. While you can start this business while on your 9-5, you can’t sustain its momentum or fulfill its growth potential without committing full-time to it.

Keep reading here>>>https://www.entrepreneurs.ng/four-ways-to-go-into-entrepreneurship/

Are you an Agric entrepreneur or planning to become one, this is for you. Don’t miss out. Stanbic IBTC Holdings Plc is set to hold the third edition of her annual Youth Leadership Series, YLS 2020. The event will hold on Wednesday, February 12, 2020, and will converge agricultural experts to discuss the theme Techriculture – The Evolution.

Keep reading >>>https://www.entrepreneurs.ng/stanbic-ibtc-set-to-hold-her-annual-youth-leadership-series-2020/

Business is all about satisfying customers and make them want to keep coming back. If you can master the art of communicating excellently with your customers, you will record tremendous growth in your business. In case you are finding it difficult to engage with your customers, let's look at some of the ways to overcome this challenge and be an expert at not just engaging with your customers, but making cool revenue while at it.

1. Measure your Customer Engagement Level

According to Peter Drucker, “you can’t improve what you can’t measure.” The first step to correcting the defect in your customer engagement level is to find out what the problem is. What are you doing wrong? Who is your target audience? Is your content relevant to them? What content do they relate with more?

How do you measure your customer engagement? Some of the things to check for include customer feedback, revenue, referrals, repeat customers, how people engage with your online content and website, etc.

2. Embrace the power of feedback

In truth, feedback is a powerful tool to correct your defective customer engagement. Ask your customers questions on their experience with your product or service. Give them room to air their dissatisfaction. It's not too much to give them a call every once in a while. That way, they will feel important and part of your business.

Really, effective communication with your customers will help you recognise what you are doing right or wrong. And, with this information, you will know what to focus on and what to discontinue.

3. Make Your Brand Fun

When putting plans in place to engage customers, don’t forget to add some element of fun to it. Really, customers don’t care about your business, they are only concerned about the value you can offer them. And, they can sure make do with some level of fun. So, while giving value to your client, let them also have a good time patronising you.

4. Use Social Media To Your Advantage

If you are running a business in the 21st century and you are not embracing the power of social media, you are really laid back. As a matter of fact, social media allows you to get closer to your immediate and prospective market.

For example, Instagram shows the number of engagement your post attracts. With this information, you will have a better idea of what your customers look out for, so you can push out more of such content.

Keep reading>>>https://www.entrepreneurs.ng/how-to-improve-customer-engagement/

Have you heard about the UBA Bumper Account?

The United Bank of Africa (UBA) made the official launch of the UBA Bumper Account and first draw at the Bank’s Head office on Tuesday, 28th January. Also, 100 customers were rewarded in the first draw of the promo.

The Bumper Account is a hybrid account aiming to transform the lives of its customers, and reward them with exciting prizes.

This initiative is in line with the bank’s mission of creating superior value for its stakeholders. Also, to encourage saving cultures among Nigerians. The aim is also to improve the lives of UBA customers, and offer account holders opportunity to win cash prizes of up to N2 million.

You can find the full information here>>>https://www.entrepreneurs.ng/uba-launch-the-uba-bumper-account-rewards-100-customers-with-n10-million/

If you are a startup or existing business in Nigeria, you will understand that there are variable expenses to incur every day. In like manner, you have fixed expenses that take a bunk of your money. Meanwhile, your aim, in the long run, is to record tremendous growth in your business. Needless to say, excess expenses can do great harm than good to your business.

For the purpose of this article, I will be focusing on the cost of promoting your business which of course, is one of the most important things you will need to spend money on regularly. That said, here are ways to promote your business as an entrepreneur without breaking an arm or leg.

1. Maximize your Social Media Presence

Record has it that we have over 2.23 billion users on Facebook, 1billion users on Instagram and 335m users on Twitter. Hence, if you play your cards right on all the recognized platforms, you will be at a great advantage over your competitors.

2. Own A Website And Maximize It

Gone are the days when creating a website is expensive. Nowadays, you can create one for yourself in the comfort of your bedroom. With platforms like Wix.com and Wordpress, you are halfway to owning your website.

More than owning a website, you have to optimise your website for search engines, performance, and accessibility.

3. Ask For Referral

The bible text "Ask and it shall be given unto you" is also applicable in business. Has someone enjoyed your service or is satisfied with your product, ask them to sing the praise of your business by referring others to you. Sometimes, you may need to give out freebies or have a commission
program in place for anyone that refers a customer to you.

Don't forget, words of mouth still work wonders today.

4. List Your Business on Local Online Directories

Listing your business on local directories is one of the cheap ways to market your business as an entrepreneur. In fact, local listings should be a must for any business as search engines populate these sites at the top of their search results when a user is searching with local intent. Besides, an accurate and updated local listing plays a vital role in local SEO.

I have listed four other potent ways to promote your business and this has helped future-forward entrepreneurs to achieve success. Read it up here>>>https://www.entrepreneurs.ng/cheap-ways-to-promote-your-business-as-an-entrepreneur/

Top 10 Early Stage Investors And Venture Capitalists In Nigeria

Early-stage investors and venture capitalists invest in startup businesses and get a share of the company in the form of equity. Here's a list of ten early-stage investors and venture capitalists to check out now.

1. Venture Platform
2. Spark Capital
3. GreenHouse Capital
4. Growth Capital by CCHub
5. LeadPath Nigeria
6. GreenTree Investment Company
7. SLA Accelerator
8. EchoVC Partners
9. Lagos Angel Network (LAN)
10. Microtraction

Keep reading to see how this platforms works. This may just be what you've been waiting for >>>https://www.entrepreneurs.ng/early-stage-investors-and-venture-capitalists/

Today, we are going into the world of Nollywood and looking at the people who are making things happen in the industry: movie producers. Nollywood keeps producing talents who have gone the extra mile to differentiate themselves. Today is not about the actors and actresses you scream about and adore. We are shinning the torch on the people behind the shine of many Nollywood celebrities.

1. Emem Isong
The first person of producers on our list is no other person than the stunning Emem Isong. A talented Akwa Ibom. In 1994, she co-produced the movie “Jezebel”. Thereafter, she produced her first solo movie “Breaking Point” in 1996.

2. Tope Oshin
Of a truth, Tope Oshin has paid her dues and she deserves all the accolades coming her way. She was listed as one of the most influential Nigerians in film in 2019. It will interest you to know that Tope Oshin is the brain behind some of the highest box office breaking movies in Nigeria. To mention a few, she is the producer of the highly acclaimed ‘Fifty’ and ‘The Wedding Party 2’.

3. Kunle Afolayan
Kunle Afolayan is another major player among movie producers in Nigeria. It is safe to say that Kunle learned well from his late father ‘Ade Love’ who was equally a great movie producer in his lifetime. Amongst all, Kunle Afolayan is the producer of ‘The Figurine’, ‘Phone Swap‘, ‘Irapada’, ‘October 1‘, ‘The C.E.O’, ‘Omugwo’, ‘ROTI’, ‘The Tribunal’, and the most recent – ‘Mokalik’.

4. Funke Akindele Bello
Here is one great producer that receives loud applause from fans. Over the years, she has produced more than 100 movies to her credit both as a producer and an actress. To mention a few, she produced ‘Jenifa’, ‘The Return of Jenifa’, and ‘Maami’

5. Kemi Adetiba
Kemi Adetiba is also one of the well-known movie producers in Nigeria. In truth, Kemi’s movies speak for themselves. You will agree with me that there is a ‘Kemi’s touch’ on all her productions that makes them stand out.

Which other producers in Nigeria do you think should make this list? For me, I have some of them here >>>https://www.entrepreneurs.ng/movie-producers-in-nigeria/

Our job at Entrepreneurs.ng is ensuring that entrepreneurs succeed in their businesses, hence, we have compiled how the entrepreneur can improve their leadership skills. Here you have it guys!

1. Own your Business Vision

Vision is critical for a leader. If you lack vision, there's nothing your employees will run with. Write your business vision down and ensure your team is well informed of where the business is headed. That way, everyone on the team can run at the same pace, hence, the business growth can be steady.

2. Discipline

According to Jim Rohn, ‘Discipline is the bridge between goals and accomplishment’. As a leader, discipline is important to the success of your business. It’s never enough to have a business vision; having discipline will help you achieve your vision.

3. Communication

Communication is one of the most essential leadership skills needed by every entrepreneur. Because leadership is about dialogue and needs a relational skill. Interestingly, everything is learnable nowadays. So, you may need to take an effective communication class if you observe that you need one.

4. Strategic and Critical Thinking

A leader is always thinking and stretching their mental bandwidth. A leader knows how to identify opportunities and when to act fast.

To learn more leadership skills an entrepreneur should have, visit>>> https://www.entrepreneurs.ng/ways-to-improve-your-leadership-skills/

Hey guys! here is an opportunity you don't want to miss.

The Application for the International Tech Hub Network program – Go Global Africa 2020 is now ongoing.

This opportunity is open to innovative startups in FinTech, AgriTech, HealthTech, and Clean Energy industries, in Kenya, South Africa, and Nigeria.

About Go Global Africa 2020

Go Global Africa is one of the UK Government’s Prosperity Fund Digital Access Programme. It is led by the Department for International Development and delivered in partnership with the Foreign and Commonwealth Office, and the Department for Digital, Culture, Media and Sport.

Click here to read the full information>>>https://www.entrepreneurs.ng/go-global-africa-application-now-ongoing/

Let's learn new languages guys!

Oya, let's go there

Yoruba: Owo

1. He has the ceremonial title of Onwa-Netiri Oha of Omuma Kingdom, in Oru local government, Imo State. Hope Uzodinma is one of the kinsmen of the Okoro family of Etiti-Omuma.

2. Hope Uzodinma used to have a high net worth company, with the name Transurb Technical Consult Ltd, but the company is no longer in existence as it got bankrupt.

3. Hope Uzodinma used to be one of the PDP chiefs in Imo State, as well as a friend of former Governor Achike Udenwa until late 2002. Their friendship came to a halt when Mr. Uzodinma decided to run for the Governorship seat in the April 2003 elections.

There's actually more to Hope Uzodinma than it meets the eye. Click here to find out >>>https://www.entrepreneurs.ng/hope-uzodinma/

Flutterwave Raises $35M In Series B Funding To Expand Across Francophone Countries And North Africa

The Fintech company announced that it raised a total of $35m in Series B funding from a consortium of strategic investors.

In addition to that, it stated that this round of funding was co-led by Greycroft & eVentures with additional participation from CRE Venture Capital, FIS, VISA and Green Visor.

According to Szczerbiak, Principle at Greycroft, “We have supported the company since investing in 2016 and are excited to lead the Series B after seeing over 500 percent revenue growth in 2019.”

Click here to read the full news>>>https://www.entrepreneurs.ng/flutterwave-raises-35m-series-b-funding/

Hey guys, here is an opportunity to grab in 2020.

The 20th edition of the world's richest and largest graduate-level student startup competition 2020 is ongoing - The Rice Business Plan Competition. The competition is organized by the Rice Alliance for Technology and Entrepreneurship.

The competition has grown from nine teams competing for $10,000 in prize money in 2001 to 42 teams currently competing for over $1.5 million in cash and prizes.

Benefits of participating in the Rice Competition:

- Access to opportunities to learn how to successfully launch a new business.
- Network with potential venture capitalists and other investors in the course of the program
- Receive mentoring from investors and experienced entrepreneurs
- Meet with high-caliber, experienced judges who are also senior level investors, entrepreneurs and leaders in different industries.
- Get Personalized feedback in three different sessions and on business plan before the actual date of competition.
- Generate funds to successfully commercialise your products.

For more information on how to apply, visit >>https://www.entrepreneurs.ng/rice-business-plan-competition-rbpc-2020/

Yes, you!

What business will you start with N10million in Nigeria? Leave a reply, you never know if your next investor is reading.

Let's go.

https://www.entrepreneurs.ng/

If you are a Nollywood lover, you will obviously be familiar with Linda Ejiofor. So, gather here if you are a Nollywood fan.

Linda is a Nigerian actress and model who started her acting career at Tinsel, M-Net’s Production, where she starred as Bimpe Adekoya. Today, we have highlighted some entrepreneurial lessons you can learn from her. If you are an entrepreneur, tighten your seatbelt and get ready to learn.

1. Preparation

Give Linda a role, and she will put in all the preparation in the world to give her best. A typical example was when she was preparing for her first role.; she saw several movies like Legally Blonde, Devil Wears Prada and also did other relevant researches. Her performance brought deserved attention especially from notable filmmakers like Mildred Okwo and Rita Dominic.

This saying is still true, Opportunity meets preparation. To excel in business, you must strive to stand tall among competitors.

2. Dynamism

For Linda, she enjoys that her profession gives her the opportunity to act as a different person at different times. Also, she enjoys that she can interact and pass information to people right in front of a camera. According to her, “I have learned to forget that Ihuoma Linda Ejiofor exists and become the character that I play.”

In business, you have to embrace acts that will make you excel. Old things and old ways of doing things must give way to new concept and innovations.

Here's the full biography of Linda Ejiofor>>https://www.entrepreneurs.ng/linda-ejiofor/

Email marketing is one of the best marketing technique that converts to sales. Surprisingly, some entrepreneurs cannot boast of any successful email campaign. If you are one of such entrepreneur, you may be doing some things wrong. It’s time to learn the best practices for email marketing, so you can change your narrative.

Here are 5 best Email Marketing practices to start exploring now

1. Send Welcome Emails
2. Avoid Spammy Contents
3. Avoid Buying Email Lists
4. Always Track Click And Open Rates
5. Use Email Signature

To learn more, visit >>>https://www.entrepreneurs.ng/best-practices-for-email-marketing/

How Do You Get The Pricing Right?

Actually, there’s good news and not so good news to that question. The good news is there’s no one method fits all. And the not so good news is, there’s no one method fits all. There are different kinds of pricing strategies in business. Each one is peculiar to the product, service and/or market.

Hence, selecting the best price for your product/service requires careful consideration of various factors considered key to your business.

You have to consider your customer or target audience. Also, you have to be informed about your competition and their prices. Also, you must have a full grasp of how much it is costing you to do business and stay in business. More importantly, you have to understand the factors/powers that control the market (demand, supply, inflation, etc.).

Factors to consider when pricing your product or service

1. Know your target audience
2. Know your competition
3. Understand the value of your product or service
To read more, go to >>https://www.entrepreneurs.ng/factors-to-consider-when-pricing-your-product-or-service/