Do you like change or do you do your best to escape it? Sometimes change can kill your business while at other times it can save it!
I'll admit that I don't like change! I like to be in control! I think we all do to a certain extent.
However in a business situation you have to make peace with change! Sometimes you have to embrace it!
In today's culture it is important to understand who your target market is and to keep up with how it changes. Especially when you market online.
The internet has enabled us all to search for exactly what we want. No longer do we have to make do. With a bit of effort we can usually find exactly what it is we are looking for even if it is quite obscure.
This means that there are plenty of little niche groups, groups of like minded individuals that before may not have existed just because it wasn't very popular.
Since the internet is world wide we can form a group with others across the world and share our particular hobbies and passions - something we would not have been able to do before.
Therefore rather than things becoming generalised the opposite is happening. Things are becoming more and more defined.
This is why there are so many businesses focusing on particular niches and sub niches.
If you choose a specific niche market then you can make a mistake if you decide to change by generalizing what you offer.
This is perhaps what Woolworths did by trying to stock everything rather than focus on what it was known for - its pick 'n mix.
If you have a brand then changing what your brand stands for can put existing customers off. You might get new customers but it is the old customers that in many ways, keeps your business going.
It is far easier to sell to existing customers and therefore it is in your best interests to keep those customers happy rather than make changes to draw in new customers.
If your existing customers want change then you should listen to them.
Therefore listening to your customer is essential if you are going to keep up with their demands. It might mean staying the same or it might mean making small changes here and there.
However, those changes could have a huge impact on whether your business continues to remain competitive.
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Article Source: http://EzineArticles.com/?expert=Kay_Franklin
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