Last week,
I was approached by a writer.
She had crafted a well written story,
had a blazing marketing program,
yet had no sales.
Why?
Because there’s no demand for her story.
She can advertise it
all she wants
but if people don’t want the product,
they won’t buy it.
John Bradberry
stresses the importance of market demand.
“Market demand for a product
is the first source of all commercial success.
Jeff Cornwall,
director of Belmont University’s
entrepreneurship program,
has estimated that
40 percent of all failing ventures
are doomed right out of the gate,
simply because the basic idea isn’t viable.
This may be because
the entrepreneur’s product or service
doesn’t solve a compelling enough problem,
or because
strong competitors are already
addressing the problem,
or because
of an inability to promote
and distribute the product
through the right customer channels.”
Ensure market demand
is there
before sinking a lot of time
and money into your product.