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by tiniestcabbage
481 days ago
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There is an argument to be made that price-sensitive customers are a neglected market. Granted, marketing to them is very different - they're prone to being scooped if someone comes by willing to sell your same product to them at a loss (hi, Amazon and Walmart) - but there are a lot more of them and you're not fighting every startup on the planet for the same handful of clients. Business have made a killing in China and India for a reason, after all. |
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+ For what it is worth, the just-one-percent-of-all-Chinese is historically a poor business strategy.
+ As you point out, targeting price sensitive customers puts you in competition with Walmart and Amazon. Not only that but you are competing for their worst customers.
you're not fighting every startup on the planet for the same handful of clients
Not having access to good clients/customers suggests the business idea might not be viable. Chasing money from people without the wherewithal or will to pay, does not make your business idea viable.
But again it is a rule of thumb.