The Daniels College of Business at the University of Denver hosted a well-attended business seminar this morning. Several business owners and leaders from the academic community and surrounding area attended the event.
Adjunct Professor Randy Williams discussed how to apply a market-focused model to identify and out-maneuver the competition – all while preserving your prices (and margins) in a competitive landscape. "Most companies organizations compete on price, and your margins will decrease with increased competition – unless you innovate", Professor Williams stated. "You need to find the opportunity to differentiate your company in the minds of your customers, otherwise you will not be able to compete on Value – and that's where your profits are."
The session then turned to a discussion of how to apply various Social Media tools to grow business, led by Chris Kauza, Vice President, Fett Marketing. "People do business with people they Know, Like and Trust – what I refer to as the "KLT Factor". Adding this to your Unique Selling Proposition (USP) and authentically sharing that with your market through various Social Media tools (like LinkedIn, Twitter and Facebook), gives business owners the ability to interact with their markets – and one another – in ways that weren't possible 5 / 10 / 20 years ago.
The attendees all enjoyed the networking after the event, and said they looked forward to the rest of the seminar series.
