Need, benefit, approach and competition

To buy or sell anything, it is important to understand and promote its function properly. If it is from a buyers perspective, buyer should understand the sellers intention. Hence, first one should know what we need. Then only we can understand which is the most suitable for us. For example, we needed to cool an indoor space. Therefore, we need to really understand the options available, what we can afford to purchase and in a long term and what is the most sustainable. Whether its a fan, cooler or an air conditioner. 

From a seller's perspective, they need to understand what the buyer wants. When they understand the buyer's 'Need' that's where they can come up with a solution. They should be able to come up with a 'beneficial' product after identify the target group. That is when a proper 'approach' can be determined. As a final stage, it is to explore on way to tackle the 'Competition' and become the reason why buyers should buy their product.