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Your Business Must Be Marketable

Monte Wyatt & Brad Sugars, Jul 02, 2019

Taken together, the four critical components of the Discipline of Strategy are opportunity, leverage, scalability and marketability, lead to exponential growth.

Here we will talk about marketability.

Marketability is being able to identify and know your core customer, and to present what you do or make to the customer in a way that's easy to understand, and that sets you apart from the competition. It is the ease of reaching the right buyers.

The right buyer is the person willing to buy your specific product at your specified price at your specified time.

Marketability is about understanding whom you're talking to, what their needs are and how you will reach them.

You can evaluate an organization's marketability by determining how easily you can achieve three things:

accessing the right audience;

helping the right audience understand your message;

solving the right audience's problem or need.

Uber determined its marketability by asking two questions: who is our target audience? And how do we reach it? Uber's answers were these: its target customers are people who need a read and who have a smartphone. It reaches them through the app on their smartphone.

To recap, marketability is identifying and knowing your core customer, and letting the customer know what you do or make in a way that's easily understood. You can evaluate your marketability by your ability to access the right audience, determine how well the audience understands your message and how well you solve your audience's problems or needs.

We'd love to hear from you. How well does your company set itself apart from the competition? Thank you for sharing.