Information is the new gold in this century.

in Project HOPE9 months ago

In the middle ages the class which everyone was born will determine the type of lifestyle that such a person is going to enjoy, usually the people who were born into royal families usually enjoyed the luxury of being a royal all their lives and those who were born as peasants will also have to live that way for the rest of their lives. Luckily, we no longer have to live that way because in this present age it is very possible for a person who was born as a peasant to become a part of the ruling class while the people who at some point had a lot of wealth could easily lose everything within a flash.

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Our century has re-arranged the method of wealth distribution, anyone who can gain the right information and utilize the information very well to suit a good purpose, or anyone who knows how to take good advantage of opportunities has the possibility of growing wealth for himself or herself.

Any flourishing business is definitely meeting a required need of the people, the more needs a business is able to meet the more customers he is willing to gain. Success in the business world today means that you will have to create a product or service that will clearly be able to meet the needs of other people because the main reason why people will pay for an item or a service is because they need it to fulfil a desire.

Being able to position your business in a strategic area where the needs of people are meet will turn it into an extremely profitable one, now you have the information that business needs to be positioned strategically, it depends on you to utilize the information to your own advantage and to the advantage of your business.

A simple strategy about demand and supply is this, when there is a huge demand for a commodity the price goes up and that is because a lot of companies want to maximize profit but when there is a reduced demand for a commodity it is only natural that the price goes down as well because the company is trying to get more people to purchase the item.

The need for research before a business is made public is highly important, when a market research is appropriately done it makes it rather convenient to know where and where to pitch your idea especially when it comes to fixing your price in a manner where customers can relate.