Yellow PagesKANAB - Knowing your market is the key. Take the beauty products industry. Do you know that eight to twelve-year-old girls spend over a half a billion dollars each year on them? If your company sells cosmetics you already know that don’t you? If not you aren’t watching the marketing trends as closely as you should.
Do you know that the beauty products girls in that age group spend most on are body sprays and fragrances? The top selling brand is owned by a popular female performer. I doubt there is an eight year old who could pick one scent from another in a blind test. Nevertheless, all the young girls want to smell just like their favorite star. Is this marketing wizardry or what?
Did you know that the top female-owned business in Utah began in Kanab? The business is Stampin’ Up! As the name suggests, the company manufactures rubber stamps which are used on anything from greeting cards to wall décor. What is the target market of that corporation? Women who want to be able to work from home. Stampin’ Up! knows its market.
If you own a livestock business, do you watch all related industry markets closely? Do you know that the price of nitrogen fertilizer has risen markedly over the past few years? Many farmers have started purchasing more manure because it is often less expensive than the manufactured fertilizers. The number of manure haulers has increased as a result. Are you selling manure?
No matter what business you are in, be innovative—and watch those markets.
