Identify All Target Markets: define WHO your ideal customer is or target market. Most companies experience 80% of their business from 20% of their customers. It makes sense then to direct your time and energy toward those customers who are most important.
Qualify the Best Target Markets: the purpose of this step is to further qualify and determine which customer profile meets the best odds of success. The strategy is to position your business at the same level as the majority of the buyers you are targeting. It is critical to figure out who your best customers are and how to best position your company in the marketplace. Identify Tools, Strategies and Methods: a market you cannot access is a market you cannot serve. Marketing is the process of finding, communicating and educating your primary market about your products and services. Choose a combination of tools and strategies, that when combined, increase your odds of success.
Test Marketing Strategy and Tools: the assumptions we do not verify are typically the ones that have the potential to create business problems. Take the time to test all business assumptions, especially when you are making major expenditures.
You may also find inspiration in the marketing strategies used by other businesses Sometimes the best ideas are already out there and free for the taking.
It is not realistic to expect you can meet the needs of everyone, no business can. Choose your target market carefully. Overlook this area, and I guarantee you will be disappointed with the performance of your business. Get this right and you will be more than pleased with the results.
Needs: what unmet needs do your prospective customers have? How does your business meet those needs? It is usually something the customer does not have or a need that is not currently being met. Identify those unmet needs.
Wants: think of this as your customer’s desire or wish. It can also be a deficiency.
Problems: remember people buy things to solve a specific problem. What problems does your product or service solve?
Perceptions: what are the negative and positive perceptions that customers have about you, your profession and its products or services? Identify both the negative and
Marketing The Company’s marketing strategy rests on the belief that its products and services represent a value-added approach to interpreting, qualifying, and understanding the complexities of the computer industry and technology markets. To implement this strategy, the company intends to place paid advertising banners on strategic websites in the computer fields and to utilize search engine portal and general media advertising.