What are the key factor(s) for success in this industry/market

Strategic Focus (Leadership, Management, Planning) People (Personnel, Staff, Learning, Development) Operations (Processes, Work) Marketing (Customer Relations, Sales, Responsiveness)

Explanation:

Whether you're operating an established small business or just starting out, an effective, ongoing marketing strategy is vital. But marketing without a plan will not only waste time and money; it may alienate your customers and stall the growth of your business.

To match your marketing strategies to the needs and expectations of your target customers and ensure that your business continues to grow, start by identifying your key success factors.

Key success factors (or KSF) are business strategies that are critical to a successful relationship with your customers.

Key success factors are decided by the needs and preferences of your market and customers, not by your business. However, consumers aren't going to tell you what those KSF are. Discovering your key success factors requires researching your customers to understand who they are, what they want from your company, and what prompts them to make a purchase.

A business generally has three to five key success factors that it needs to focus on to achieve its goals. Key success factors also may relate to areas of weakness that you must overcome to create a stronger relationship with your customers.

Once you understand and begin using your key success factors, they become part of your brand and business style.

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