opportunity 16 of 150 Few things in marketing are more important than precisely identifying, and thoroughly understanding, your market. The best basis for a competitive advantage is to understand your market better than anyone. I once heard past Australian Prime Minister Paul Keating say that – ‘if you do not have enemies, you have not […]

opportunity 16 of 150 Few things in marketing are more important than precisely identifying, and thoroughly understanding, your market. The best basis for a competitive advantage is to understand your market better than anyone. I once heard past Australian Prime Minister Paul Keating say that – ‘if you do not have enemies, you have not achieved anything worthwhile’. In marketing terms, I would say – ‘if you have not been rejected by a substantial segment of the market, you do not have a great brand’. I have been into an Ikea store once, and I hated it. No, that is too mild – I hated the carpark, I hated the shop, I hated the range of products, I hated the trail I was forced down and I saw no value for me in any of it. That said – Ikea is one of the top 5 retail businesses in the…