Know Your Market And Be True to That Market

In Podcasts by David Specht0 Comments

Sean is inspired by an epic rant about his collectibles and how the market is becoming flooded with them. A conversation ensues about knowing the market for your product or service and how find out.

Knowing Your Market

  • Being exclusive is not as valuable if it is not scarce
  • There is a trust relationship involved between a provider and the market
  • Fewer items increase value to the right buyers in the marketplace
  • When an item is no longer exclusive, a positive experience can become negative
  • Flooding your market is a race to the bottom, making it a commodity, thereby devaluing it
  • Too many similar products devalue all products

Links mentioned in this episode

3dBuy David’s Book

BIZ Tools Podcast host David Specht has released his first book, Old Dogs New Tricks. In it, he teaches how everyone can be a better leader. It is a quick read that offers practical steps to becoming a better leader, regardless of your position or vocation. Buy it on Amazon for just $8.99. 

Thanks for Listening!

Thank you very much for joining us again this week. Have some feedback or a question you’d like to share? Leave a note in the comment section below!

If you enjoyed this episode, please share it using the social media buttons you see at the top or bottom of the post.

Also, please leave an honest rating and review on iTunes and Stitcher. It helps our ranking and helps others find and consider listening.