In order to be successful, you need to constantly educate your market.

In marketing a new product you need to select it carefully.

Although a product may be new and exciting to you,
this does not automatically make it a winner.
The risks are high.
With new concept launches,
it sometimes take years and millions of dollars to educate the market!

It is usually better to market a product that is well known to consumers
yet is new and improved by you.

This is a safer route for you,
especially if you do not have an unlimited budget for marketing and promotion.

Launching a new or improved version of an existing product
requires far less customer education
than if you are offering a new product concept.

Note that inventors are not usually the ones who end up rich.

It is almost always the entrepreneur who picks up the concept
when the timing is right and makes the product successful.

In order to be successful, you need to constantly educate your market.

There is a big cost difference

between educating your market about a new concept

and

educating your customers about what is unique about you,
and why they should buy from you as opposed to someone else.

However, the cost can't be too high, because if it is,
something must be wrong with your product or service,
your message,
or your market timing.

If you are offering a product or service that is already understood, or not difficult to understand,
then your goal must be to educate your customers about why they should buy from you.

This means giving them solid and plausible reasons why they should select you or your company to do business with.

This important educational tool is called a

Unique Selling Proposition (USP).