We are all aware of the reaction model by Dr. Albert Ellis to identify the effects and reactions of individuals to certain events and their responses. This is a common set of stuff that helps the managers to deal with the staff. We do know the full forms of this ABCDE which are; Activating, Beliefs, Consequences, Disputations, Effect but are you aware that there is another way to see this ABCDE. After reading this post one thing is for sure that you would be having a new way of thinking about ABCDE from this point.
Let’s now not beat around the bush and come to the main points. If you are planning to introduce your business or planning to expand it conventional models have to be let go in 2020. With a new year and being a year that excites just by its name, new ways to introduce should also be introduced and that is exactly why I decided to convey the information I possess to all the others. With this model, you would be able to sort out all your things and easily work out your plan accordingly.
ABCDE; no need to abbreviate it as Activating, Beliefs, Consequences, Disputations, Effect instead if you are introducing your business then call it,
Never Heard of it this way right? Well, that’s something new which up till now I believed and now with the new year, I pass it on to all. But this all may not seem quite understandable, so let’s discuss it in detail:
Understanding the ABCDE Model for Introducing Business:
As now, you are aware of the new abbreviations of the ABDCE, it’s time to help you understand it. Let’s begin in alphabetical order :
You plan to introduce your business in a new region, so what do you have in mind? Probably a lot of stuff, but let us now sort it out for you. Her you need to do the “Market Mapping” of the region. Research about the market you plan to enter and get to know your audience. Identify the trends, market preferences and the white spots which have not been targeted till now.
Market Mapping; Studying the market for identifying the opportunities, trends, variables between the products and people. It helps in determining the problems that others may have missed and not targeted. It is done in the form of plotting the information you have upon a chart and then detecting the trends and identifying the key variables for it.
Well once you identify the points and think that you have found the loopholes or the white spaces that up till now have not been targeted or have been targeted but not catered or been catered but not sorted, you need to identify, differentiate, provide and then see. These lines may be a little confusing for you but trust me you are already aware of this stuff it’s just that you never thought of it in this way nor sorted your plans according to this model.
After analyzing the market, now identify that which white spots should be targeted and focused upon. Once you decide this, you need to differentiate them according to the requirement
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For Example; You surveyed a market and got to know that there are high potential customers available in the market that are willing to buy the quality products at premium prices but the competitors are not willing or not risking to enter the sector.
Once identified, you plan to fill this white spot and then continue your plan to brainstorming where you identify the audience willing to buy it this way. You identified the these are the upper and upper-middle-class sectors, differentiate them and provide them some samples of your product and get reviews on it.
Here this does not mean to completely introduce and start off your business at this point, but to be more accurate, its Co-Create. It means that you introduce only a section of your business to the target audience and let them have their say upon it.
Do campaigns for awareness, introduce samples of your product collect the feedback and get to know about the audiences’ point of view.
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Check the product availability of your product to your customers. Which means of delivery you think is the best for you, your audience, your costs, your business type and get into it.
Search for the alternatives of the means. For Example; should your product be available at the retailers directly from your warehouse, or delivering it to wholesale who would then distribute it would be better or having your own outlet to distribute it. Look for alternatives, are these within your budget, look at what would be best and then select the best option. Perform the co-creation medium in it as well. Try it out at a certain point and observes the results.
Now it’s time to check out whether or not your project is feasible for the market or not. For this, you need to make some pre-determined results which you think would be after your approach. Match these results with the results that you actually have in hand.
You can use different approaches to evaluate but now you would be sure that is introducing your business in this market feasible enough or not. Some electronic gadgets from Expansys sg may be helpful for you in order to evaluate.
So, you’ve completed the ABCDE Model and pretty much now well known about the ways how this model can be used, from studying the emotional to a practical view of business as well. Implementing the ABCDE Model to your business introduction plan is a great way to have your plan sorted and done in a way that is more feasible. It helps you cater to the right people in the right way to have the best possible and productive results.