Different customers within one market are looking for a different set of values. When a company is entering a new market, it must adapt the value proposition to the specific needs of its new target customers. Simply assuming that foreign customers in the new market will respond positively to an existing value proposition can lead to a costly failure.
A critical step when expanding to a new market is selecting the best market entry mode for your business. Different approaches all have pros and cons. Deciding which to choose is as much about market insight as to business logic.
Strategic marketing is the approach by which you build a difference from the competition, focusing on your strengths and capabilities to provide better service and deliver more value to customers. The goal of strategic marketing is to recognize and make the most out of the positive differences that highlight your organization compared to the competition…
Market segmentation is not just for big businesses. Small businesses benefit the most from segmenting their customers. Success in marketing is pretty much dependent on proper segmentation.
Defining your website goals and objectives is the right point to start a new website design. You should align your website goals with your business goals, and especially with your marketing goals. In return, obtaining your business goals increasingly depends on the productivity of your website.
Each of the 4 Ps in the mix is equally relevant for attaining results, and one without the other has limited value. You can’t sell a great product if nobody knows about it. Better prices won’t bring you higher sales if customers can’t find your products to buy.