How to Market – Generate vs Locate
[ New Distinctions for Entrepreneurs – Part 2 of 12 ]
The typical first step in marketing is to identify or ‘locate’ your market. It is to investigate and inquire as to who wants what you’ll be selling. Who needs it? Who would buy it?
While there is absolutely important value in this step, it misses out the fact that marketing is (or at least can be) a dance of creation.
It’s not that looking for existing markets is bad, it’s that if you are focused only on this you will miss the fact that what you put out into the world changes the world.
When your business launches – when you begin providing your product or service – you impact the world. You will do so somewhere between imperceptibly and massively.
What if instead of focusing on ‘finding’ people to buy your stuff, you focused instead of creating people to buy your stuff?
Focusing on your uniqueness in the service or product you provide often creates a paradox where it becomes simultaneously more valuable to people and less obvious to people what the value is. The onus thus is on you to communicate that value and create your market.
What if you were to generate a market instead of locate one?
How might this change your market research?
How might this change how you describe and advertise what you do?