Dear Afropreneur, The bedrock of a product, service or a business starts with a solid understanding of your target market. Your product is designed specially for this group of people. Their needs form the bedrock of the solution your product/service addresses. A product cannot be for everybody. It can be for a group of people with similar interests, goals, features, demographics etc. These group of people are your target market. Target marketing involves breaking a market into segments and then concentrating your marketing efforts on one or a few key segments. These key......
When designing a Business Model for a startup or any business at all, a “Value Proposition” is an essential element. This Value Proposition is combination of products, services, information or experiences offered to a market to satisfy a need or want. Successfully creating a differentiated Value Proposition, ensure it is successful. This is what has made Uber, Airbnb, Apple, Amazon and similar companies great. Over time, we have been taught to innovate by improving on products in the market, or creatively coming up with a new one. We’ve......