Knowing Your Market.
Recently, I went to record some #NewtonsNuggets on Facebook and realised that I hadn't picked up my work notes but instead I had swiped the Wife's shopping list! Oops.
I called Mrs Newton and explained what was happening. Rather than tell me what was on my Newtons Nuggets list she dared me use what was on her list instead.
I'm a magician so I'm used to making something out of nothing and making things appear in thin air.
Ah Ha! I've got it. Plum Tomatoes.
Plum tomatoes got me thinking about business and how it's important to know your business market. In the supermarket there are lots of brands and varieties of tomatoes. They range from 20p to £3! They're all made of plum tomatoes. Why such a price difference?
Well some people will be happy to buy a well known brand, some companies have proven themselves as the market leader, some are home brand and some are just living in the middle, plodding along.
ALL of these tomatoes have a buyer. People on a tighter budget will buy the 20p tin. People who prefer a certain brand will pay more.
This is why you need to know your market, and your place on the shelf. We can't all start out in business and challenge Heinz for the top spot of tinned goods. Sometimes we need to start at 20p and work our way upwards. There's enough room for us all on the shelf. We just need to know where we belong.