Marketing is meeting consumer demands profitably. It starts by identifying a gap in the Market- something for which there is an inert need/want that isn’t sufficiently met.
Marketing works its way from here to build a product or a service that meets those needs and wants.
Marketing covers broad areas ranging from finding the right Target Group (TG) to pricing and communication strategies.
For now, Understand that a successful marketing execution brings prospects to you (its Pull strategy).
A great example of identifying gaps in the Market is We Work.
We Work changed the real estate industry by making it possible for customers to rent co-working spaces without having to worry about the infrastructure and support staff at a very reasonable price.
They pioneered a “space-as-a-service” membership model
