crownprince102:

Sir, I'm not ridiculing the dude. I'm indeed praising that idea. You people might find this weird but it's the unseen truth. Though the dude went too blunt the way he said it.

You can learn about Apple success story. How did it become world most valuable company. Also some top companies in the world.

Caustics:
if you have 200 why not buy a plate of food instead

crownprince102:

Sir, I'm not ridiculing the dude. I'm indeed praising that idea. You people might find this weird but it's the unseen truth. Though the dude went too blunt the way he said it.

You can learn about Apple success story. How did it become world most valuable company. Also some top companies in the world.

ecoeco:
..

#1 rule of successful entrepreneurship

Never sell to the poor

If u want to help d poor sell ur products @ a high price to d rich nd help d poor with d profit

That business will surely crash



#Eco99#

TheGoodJoe:


So you think companies that own beverage drinks and milk that went on to produce their products in sachets do not know business.

Things like Sachet Peak, Sachet bournvita etc.

There are far more poor people than the rich. If you can sell products to these poor people, you hit it big.

edoman2016:

Also, it's far easier to sell to the rich and middle class compared to the poor.

For instance, a fruit juice company will be able to sell more of their fruit juice products to the rich and middle class more than to the poor. Because the rich and middle class will have the purchasing power to afford their products and also know the benefits of drinking their fruit juices.

Whereas the poor may see the company's fruit juice products as a luxury and could not be able to afford it or be easily convinced about the benefits of drinking their fruit juice products. I

In summary, I just believe the poor are problematic to deal with. Even the richest man in China, Jack ma said the same thing about the poor

alcmene:
That's the food Afonjas can afford for the meantime.

Passed through Ilaro, Ita-Ogbolu and other remote areas of Ondo state and had pity on those guys.

alcmene:
That's the food Afonjas can afford for the meantime.

Passed through Ilaro, Ita-Ogbolu and other remote areas of Ondo state and had pity on those guys.

Caustics:
if you have 200 why not buy a plate of food instead

omowolewa:
Humm! Ground zero

It's proteinous

alcmene:
That's the food Afonjas can afford for the meantime.

Passed through Ilaro, Ita-Ogbolu and other remote areas of Ondo state and had pity on those guys.

CastedDude:
While others are lamenting that there are no jobs in Nigeria, some others are busy hustling for themselves with any productive idea they can come up with. According to a social media user, this is the trend in Ogun state (Ijebu Garri loaded with groundnut and sugar).

Online users have hailed the 'low-cost curing' for an average Nigerian which is being sold for N50.

https://www.nationalhelm.co/2017/08/see-nigerian-entrepreneurs-taking-hustling-next-level-photos.html

ecoeco:
..

#1 rule of successful entrepreneurship

Never sell to the poor

If u want to help d poor sell ur products @ a high price to d rich nd help d poor with d profit

That business will surely crash



#Eco99#

ecoeco:
..

#1 rule of successful entrepreneurship

Never sell to the poor

If u want to help d poor sell ur products @ a high price to d rich nd help d poor with d profit

That business will surely crash
SMH..... Never underestimate the power of small money. The poor has more spending culture than the rich



#Eco99#

HelenBee:
I'll take 4 at a go.

encrypt:


You obviously don't know a lot about markets and the theories that govern the market.
When it comes to penetrating the market you have two main options
You can produce at a cheaper price and thus sell more of your product and take up a large share of the market
OR
You can produce a distinct product sell at a high price and target people interested in high quality products

The second option is what Apple used since they can't compete with windows price wise.

Does this mean windows is doing poorly as a result??

Let's not forget the young man said the company can't make it..he didn't say it would have been more profitable to target the rich.

edoman2016:

Also, it's far easier to sell to the rich and middle class compared to the poor.

For instance, a fruit juice company will be able to sell more of their fruit juice products to the rich and middle class more than to the poor. Because the rich and middle class will have the purchasing power to afford their products and also know the benefits of drinking their fruit juices.

Whereas the poor may see the company's fruit juice products as a luxury and could not be able to afford it or be easily convinced about the benefits of drinking their fruit juice products. I

In summary, I just believe the poor are problematic to deal with. Even the richest man in China, Jack ma said the same thing about the poor

alcmene:
That's the food Afonjas can afford for the meantime.

Passed through Ilaro, Ita-Ogbolu and other remote areas of Ondo state and had pity on those guys.

ecoeco:
..

#1 rule of successful entrepreneurship

Never sell to the poor

If u want to help d poor sell ur products @ a high price to d rich nd help d poor with d profit

That business will surely crash



#Eco99#

alcmene:
That's the food Afonjas can afford for the meantime.

Passed through Ilaro, Ita-Ogbolu and other remote areas of Ondo state and had pity on those guys.

CastedDude:
While others are lamenting that there are no jobs in Nigeria, some others are busy hustling for themselves with any productive idea they can come up with. According to a social media user, this is the trend in Ogun state (Ijebu Garri loaded with groundnut and sugar).

Online users have hailed the 'low-cost curing' for an average Nigerian which is being sold for N50.

https://www.nationalhelm.co/2017/08/see-nigerian-entrepreneurs-taking-hustling-next-level-photos.html

ecoeco:
..

#1 rule of successful entrepreneurship

Never sell to the poor

If u want to help d poor sell ur products @ a high price to d rich nd help d poor with d profit

That business will surely crash



#Eco99#

crownprince102:

Wow! So a Nigerian youth could have this idea.....


Bro, you gonna make a great entrepreneur. Meet you at the top.

crownprince102:

If you know all this theories I guess you should know what I mean by my post.


Citing Microsoft has your example also proofs my point. A poor man is a man who lives below the poverty line according to united nation.


This man here can't afford any Microsoft product be it the MSN, Tech net, Window Office, Skype, Xbox unless it's a clone version.


Window doesn't in any way target the poor man. I believe the guy with the earlier post should have said the middle class and the upper class instead of the rich.


Note that Apple beat Microsoft in terms of revenue and profit.

Misterdhee1:

Well,that's why we are called omoluabi. We wouldn't steal just because we want to be crowned with red caps for village square.

stanluiz:
but your do ritual killing and internet online frauding.

aribisala0:
Never sell to the poor? You think business is theory? Who does WalMart sell to?

Who does CocaCola sell to? Who does McDonald's sell to? Who doe NaijaBet sell to?

Business with the poor is not about HELPING them but making money from them?

Is it rich people that buy indomie noodles or Gala?

Finally who do Enoch Adeboye and Chris Oyakhilome sell to?
The poor people are the easiest to exploit and make money from once you figure out what to sell them

TEYA:

Wonder where you learnt that from. Ever read the book "The fortune at the bottom of the pyramid"? where several examples were made of how businesses excelled by targeting the "bottom of the pyramid " market? Cowbell is one of the examples sited. While peak and the rest of them sold in tins and big sachets, cowbell sold in small sachet and that led to a very stiff competition for other bigger milk brands which compelled them to sell in small sachets to stay relevant in the market. The sachet water which is popular in Nigeria and has made many rich does not target our elites (who will rather patronize bottled water) but the poor.