Question

What are your four preferred sources of Leads to find potential customers for the product/service you are going to be selling in Role play exercise. Briefly share your thoughts on why you selected those sources.

Answer 1

The product has some benefits and usage needs which the consumer’s needs to have. Hence if the preferred sources to identify potential consumers for a lead towards the sales generation would be:

· Use the Meta-data from various internet and web-based sources. People often use the internet for their purchases and to know about the needs they have. This generates huge data of the consumers that the business is looking for in the future. This is the lead that may be found from social media, Google searches like tools of the day to generate the lead. This is a great tool for the day and can be accessed with little cost.

· The study of the relevant consumers like the competitor’s consumers is a great way to tap into the market that already exists. However, this needs a good deal of profit and non-profit measures to get an idea since the tangibility of the new product or service has to be understood from the consumer’s need perspective.

· The business may develop an internet-based campaign to understand what the consumer’s reaction to a product and service is which may also include the competitor’s list that can be analyzed for a competent idea of the consumers and the segment of it as a lead.

· The physical questioning like a qualitative and quantitative analysis of a market sample size of random 100 people may give a good idea of the market lead and consumer demography with the needed questions about the new product and the need of the consumer or expectations from the sector too is brought out. This is a very practical way to generate the lead for the new business on which the advertisements, pricing like aspects would be made.