Did you know Lysol was once used as a contraceptive? According to Forbes Magazine from 1920-1950’s Lysol was a promoted as a “germicide” and “femine hygiene product” with the intended purpose of being a contraceptive. It was an ineffective method of contraception, but one none the least. So how did Lysol go from being a contraceptive to a cleaner? Well a few factors contributed to the shift, but mostly the political climate as birth control became legal. Still wanting to keep the same market base they shifted their marketing from a contraceptive to a cleaner. Same audience, different message.
The ability to assess the climate that your business operates in is an essential skill for entrepreneurs and business owners. Understanding these changes and knowing how to make adjustments based on these changes can dictate the future of your company. A lot of businesses make the marketing mistake of getting stuck in a specific niche. This may work for a while, but ultimately outside factors may have a negative impact on your businesses performance. This in turn makes it necessary for you to revise or completely change the way you do business.
For most entrepreneurs and business owners understanding their market is not an easy skill to master. In fact, most large companies hire other people to collect information so that they can make informed decisions about the direction of their company's marketing campaign
So if you haven’t done so or it has been a while since you did some market research put it on your to do list. Evaluate everything that is going on around you and see if you need to make a shift in how you're promoting your products or services. You may need to clean up your act like Lysol! If you don’t know how to or you don’t have the time, the professionals over at Rush Consulting Firm can help you. Book a consultation now to discuss how you can avoid this marketing mistake.