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Casual Articles - Marketing Strategies: What Choices Do You Have?
A franchise is simply a business where a tried and tested format is applied to businesses in each territory. All the guidelines for managing the business are clearly set down in a manual. The owner of the franchise business will be expected to follow all the procedures laid down in the manualWhen you start a franchise business, you have to pay an upfro
No matter which way you decide to go there are marketing decisions to be made. Sales processes, products, competitive positioning, promotional material and company image are a few of the things that will need to be reviewed.
Consideration must be given to how you will manage the mark
Entrepreneurs and their businesses have a tendency to ambush themselves when they aren't looking. This affects how much revenue they can generate, how fast their business rises, and even if they survive after the first few years. If you feel there is a possibility you are getting in your way to success, review these elements to see if any of these item
To build your business there are four strategic options that must be considered:
1) Sell existing products to existing customers.
2) Develop new products to sell to existing customer groups.
3) Expand existing products into new market segments.
4) Develop new products for new market segments.
Each one of these choices carries with it inherent risks and certain marketing implications. Which one is right for you? This is one of the most important decisions to be made. In fact, the best strategy may combine more than one of these options to suit different products or different areas of the business.
The least risky option is number 1. Simply find more customers for your existing products. Sometimes this is easier said than done, especially if you already have a dominant market share or you occupy a relatively small market niche. Although for most businesses there is usually scope to attract more of the same type of customers.
The option with most risk is number 4, going into new markets with a new product. This classic 'diversification' move may appear to offer great potential, but can be a recipe for disaster if you do not have an adequate understanding of market conditions or the competitive landscape.
It is difficult for a business to move into a new market at the best of times. Establishing sales channels, generating demand, managing customer expectations, and pre-empting competitors actions can be a real challenge, requiring a substantial amount of resources.
In each of the other two strategic options the business holds either an understanding of the customers (option 2) or the products (option 3), so the overall risk is somewhat lessened.
No matter which way you decide to go there are marketing decisions to be made. Sales processes, products, competitive positioning, promotional material and company image are a few of the things that will need to be reviewed.
Consideration must be given to how you will manage the marke
Drug testing can be one of the most effecting risk management strategies appointed during pre-employment screening to avoid trouble in the future.Drug abuse can make a person confused with continuous mood swings, low job productivity, an increased chance of violence, and can even push the person to steal from the company and their co-workers. Drug abu
Each one of these choices carries with it inherent risks and certain marketing implications. Which one is right for you? This is one of the most important decisions to be made. In fact, the best strategy may combine more than one of these options to suit different products or different areas of the business.
The least risky option is number 1. Simply find more customers for your existing products. Sometimes this is easier said than done, especially if you already have a dominant market share or you occupy a relatively small market niche. Although for most businesses there is usually scope to attract more of the same type of customers.
The option with most risk is number 4, going into new markets with a new product. This classic 'diversification' move may appear to offer great potential, but can be a recipe for disaster if you do not have an adequate understanding of market conditions or the competitive landscape.
It is difficult for a business to move into a new market at the best of times. Establishing sales channels, generating demand, managing customer expectations, and pre-empting competitors actions can be a real challenge, requiring a substantial amount of resources.
In each of the other two strategic options the business holds either an understanding of the customers (option 2) or the products (option 3), so the overall risk is somewhat lessened.
No matter which way you decide to go there are marketing decisions to be made. Sales processes, products, competitive positioning, promotional material and company image are a few of the things that will need to be reviewed.
Consideration must be given to how you will manage the mark
Nowadays, prototypes are made of practically all new machines, and prototypes are more commonly referred to as test machines. They are invented with the intention of demonstrating the qualities of a new product to clients and stakeholders. These people know that the prototype is an incomplete model of the final product, and is manufactured just to show the po
The option with most risk is number 4, going into new markets with a new product. This classic 'diversification' move may appear to offer great potential, but can be a recipe for disaster if you do not have an adequate understanding of market conditions or the competitive landscape.
It is difficult for a business to move into a new market at the best of times. Establishing sales channels, generating demand, managing customer expectations, and pre-empting competitors actions can be a real challenge, requiring a substantial amount of resources.
In each of the other two strategic options the business holds either an understanding of the customers (option 2) or the products (option 3), so the overall risk is somewhat lessened.
No matter which way you decide to go there are marketing decisions to be made. Sales processes, products, competitive positioning, promotional material and company image are a few of the things that will need to be reviewed.
Consideration must be given to how you will manage the mark
The Year of the Pig is being seen as a great marketing boon. By connecting to the Chinese New Year with promotional information for your business, you can raise the brand awareness of products to an all time high. Your market does not have to be the Chinese or Chinese- Americans to use this promotion. If you are able to tap into popular culture then this coul
It is difficult for a business to move into a new market at the best of times. Establishing sales channels, generating demand, managing customer expectations, and pre-empting competitors actions can be a real challenge, requiring a substantial amount of resources.
In each of the other two strategic options the business holds either an understanding of the customers (option 2) or the products (option 3), so the overall risk is somewhat lessened.
No matter which way you decide to go there are marketing decisions to be made. Sales processes, products, competitive positioning, promotional material and company image are a few of the things that will need to be reviewed.
Consideration must be given to how you will manage the mark
So, facilitative leadership: is leading by committee ... not!It is not about getting everyone together and asking, "what do you and you think?" Everything cannot be decided via committee! Especially if your work involves things like law enforcement or the military. The front lines are not the place to take a 'straw poll'. Even as I say this, and even i
No matter which way you decide to go there are marketing decisions to be made. Sales processes, products, competitive positioning, promotional material and company image are a few of the things that will need to be reviewed.
Consideration must be given to how you will manage the marketing-related impact of these changes to produce the best result?
* Adding value for customers (i.e. providing real benefits).
* Staff issues (training needs, operational style, presentation).
* Business processes (meeting distribution demands, customer support, production).
* Measuring results and reviewing progress (sales, profits, awareness, referrals, quotes written, number of customers).
* Knowing which marketing activities to implement, and the best time to do it.
Marketing is a fundamental component of every business. In times of change and business growth it is even more important to look closely at the 'how' and 'why' aspects of your marketing activities.
(c) 2005 Marketing Nous Pty Ltd
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