Analyzing your customer base is needed before you can
create a strategic marketing plan.You
need to determine which customer market your company will be operating in:
·Consumer market, that buys your goods for
individual or family use.
·Industrial market, such as manufacturers, who
buy your goods for use in the
production of other goods that are then sold to others.
·Reseller market, that buys your goods, usually
through a distributor, in order to resell or rent to their customers.
·Government market, that purchase your goods to
carry out governmental functions.
·International market,who buys your goods
Competitively marketing your product is important as
it plays a big part on how you are going to target your market.Four strategies marketers use as a
competitive edge, is to best determine if they are:
leaders, whoare looking to dominate the industry.They look to protect their market share
like developing new product ideas, and expand their market such as finding
new users and uses for their product.Companies like Microsoft would fall into this category.
Challengers, whoare looking to challenge the market
leaders.Pepsi challenging Coke
would be a good example of a market challenger strategy.
Followers, who are happy to stay at their current position.They wait to see what the market
leaders are doing to gain market share, and follow the leader without
having to worry about the risks and costs of any development research.
Nichers, who are looking at just a few target markets and not trying
to compete with the overall market.They just look to gain a large enough share of its specialty market
in order to maintain its profit margin.Many new businesses choose to be a market nicher.
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