Knowing your market needs and trends

Market Needs

The market needs help to compare your business and its product or service with the competition in regards to customer experience. Allowing your business to strategically cater to the customers’ market needs. From the customers’ perspective, you need to have answered, what problem does your business solve? What does your business offer that the customer can’t get anywhere else?

Market Trends

It is important to be able to recognize when a change can or will affect your business. Knowing the needs of the market and understanding trends will help you always be aware of industry adjustments.

Your product or service needs to help change the way customers are solving the problem that your product or service addresses.

Trends to think about include:

• Demographic
• Political/regulatory
• Economic
• Socio-cultural
• Technological

• Author
• Recent Posts

Dr. Elijah Clark

Elijah is a business and growth advisor. He writes about business, marketing, sales, development, branding, technology, and how to develop effective business strategies.

Latest posts by Dr. Elijah Clark (see all)

• Taxonomy of Leadership Theories - May 15, 2023
• The Follow-Up - May 14, 2023
• Building Value and Retention - May 12, 2023