Posts tagged ‘market’

going to market.

I thought I’d write this since some of my friends who find themselves newly single forgot how to get back into the “market” for “prospects”. So here is a parallel between marketing and courtship I’d like to emphasize to my friends:

  • Think about yourself as an overall product. What do you have to offer that is more compelling than your competitors? What is your FAB (features, advantages, and benefits)?
  • What is your market share strategy? Is it to obtain the most market share as possible, or is it to be as profitable with a niche market share? If you go for the mass, your profit margin is lower and you’ll require more volume to make up for that profit. Or you can laser focus on a niche market and focus on getting the maximum profit from this niche?
  • Are you making yourself visible to your target market, or are you just hoping they will miracleously appear or come through word of mouth? What is your awareness strategy to your target market? And vice versa, are you constantly where your desired market is not?
  • Word of mouth and testimonials make it easier for your prospect to make a purchase decision. Do you have a program in place to constantly solicit for testimonials and word of mouth recommendations? Remember that as much as a third of your business could come from referrals. Have you worked this network?
  • With regards to what you are providing as a product, how are you pricing yourself? Will you hold steady on what you feel the product is worth or will you desparately discount your price because you are reacting to slower times?
  • Remember that once your prospect decides to move forward in the purchase decision, how are you retaining that customer to keep them engaged and loyal? How have you been executing your brand promise?
  • Are you constantly building your brand equity?
  • Do you have a program to reward your most loyal customers to let them know how much you appreciate their business? At the end of the day, it’s about customer loyalty.

I hope this helps shed light on the game for those going out to “market”. Enjoy!

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July 4, 2009 at 2:31 pm Leave a comment


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Wonders and musings by Christina Gunn. Also, a collection of some of the most innovative minds in strategic marketing to invoke action and collaboration.

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