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From $7.25 to 7 Figures With Amazon FBA with Joshua Crisp
Entrepreneurs on Fire
Importance of Competition, Research, and Marketing Strategies
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This chapter explores the significance of competition and the advantages of a high barrier to entry in business. The hosts illustrate their points using the example of launching a bath bomb set in a market with a dominant competitor, emphasizing the role of research, data-driven decision making, understanding consumer preferences, and pain points. The chapter also delves into the marketing strategies employed to promote their product on Amazon, such as leveraging organic and paid traffic and collaborating with influencers.
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