5 Stages Of Market Sophistication


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By Dan Lok. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

One of the biggest challenges that most entrepreneurs have is they don’t understand the five stages of market sophistication. Depending on the product cycle, they communicate exactly the same way regardless if it’s stage one or stage five. And once you see the distinction, you see why the typical marketing message doesn’t work.

This concept came from one of the greatest copywriters, Eugene Schwartz. He wrote a book called Breakthrough Advertising, which is now out of print and difficult to find.

Here is the idea. You must market your product or service depending on what stage of sophistication your market is currently in. How long that type of product service has been around? How many competitors do you have? Are your customers jaded? Have they seen a lot of this type of marketing message before? That’s what I mean by how sophisticated your market is.

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