Today I am thinking about SOB which stands for: "Source of Buying".
Who is actually buying your product/service? When you are thinking of releasing a new product or service research is needed.
You should know who else is selling it, is there a perceived demand, do people actually have the money to buy, what would they have to give up in order to buy your service/product.
These are only a few considerations you should take. Most business people forget that the consumer has only a certain amount of money available and therefore has to make decisions in what to buy.
It is advisable to actually do a SWOT analysis for the product/service. This will at least make you think. I am not saying you should give up, but rather, to really think about it and position it in the right spot. This leads me to the importance of STP (Segmentation. Targeting, Positioning) and this gets us back to SOB.
If you have any questions or need help go to www.itcommarketing.com or email me mailto:detlev@itcommarketing.com
Have a wonderful day. Regards Detlev Litzkow
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