4 stages of implementation of concentrated marketing
Posted: Sun Dec 22, 2024 6:32 am
The strategy gives a positive result when three conditions are met:
a target audience segment with a minimal level of competition was selected:
its detailed characteristics are given, based thailand whatsapp number on such criteria that its excessive narrowing/expansion is not allowed;
The proposed product has no market analogues.
Conducting events within the framework of concentrated marketing consists of four stages. Let's consider each of them in more detail.
Defining a Niche
The first stage cannot be skipped in cases where the enterprise is starting its activity or plans to implement large-scale changes. Choosing a niche means performing the following actions:
SWOT analysis to identify the strengths and weaknesses of a company.
Conducting industry research based on a pre-compiled list of industries, which allows you to highlight your strengths.
Defining a Niche
Source: shutterstock.com
To determine the company's strengths, you should understand how the product is superior to its analogues. It will be easier for you to find a suitable niche if you clarify a few important points:
What problems does your product help solve?
Which of them does it eliminate faster and more reliably compared to its analogues?
At what stages of customer interaction do you achieve the best results?
Do you or your representative have a good understanding of a particular industry?
What categories of individuals or organizations do you prefer to do business with?
Based on the information received, you can start distributing products through large online platforms (Amazon, Ozon, Wildberries, etc.) to realize the identified advantages. In addition, it is worth using tools for selecting keywords (Alexa, Ubersuggest), with which you can determine relevant phrases and identify their frequency in search queries.
Read also!
"Marketing Tips: How to Show That Your Product is the Best"
Read more
Market research
The next step is to study the selected market. First of all, you should characterize the target audience that your offer may attract. Next, an analysis of the competitive environment is performed, including collecting the following information:
the number of companies producing similar or replacing products;
properties of an identical product;
cost of goods from other manufacturers;
level of demand for these products.
Market research is aimed at identifying the part of the market that is characterized by the least competition or poor customer satisfaction. This will allow developing a special product taking into account the specifics of this segment or improving the existing one.
a target audience segment with a minimal level of competition was selected:
its detailed characteristics are given, based thailand whatsapp number on such criteria that its excessive narrowing/expansion is not allowed;
The proposed product has no market analogues.
Conducting events within the framework of concentrated marketing consists of four stages. Let's consider each of them in more detail.
Defining a Niche
The first stage cannot be skipped in cases where the enterprise is starting its activity or plans to implement large-scale changes. Choosing a niche means performing the following actions:
SWOT analysis to identify the strengths and weaknesses of a company.
Conducting industry research based on a pre-compiled list of industries, which allows you to highlight your strengths.
Defining a Niche
Source: shutterstock.com
To determine the company's strengths, you should understand how the product is superior to its analogues. It will be easier for you to find a suitable niche if you clarify a few important points:
What problems does your product help solve?
Which of them does it eliminate faster and more reliably compared to its analogues?
At what stages of customer interaction do you achieve the best results?
Do you or your representative have a good understanding of a particular industry?
What categories of individuals or organizations do you prefer to do business with?
Based on the information received, you can start distributing products through large online platforms (Amazon, Ozon, Wildberries, etc.) to realize the identified advantages. In addition, it is worth using tools for selecting keywords (Alexa, Ubersuggest), with which you can determine relevant phrases and identify their frequency in search queries.
Read also!
"Marketing Tips: How to Show That Your Product is the Best"
Read more
Market research
The next step is to study the selected market. First of all, you should characterize the target audience that your offer may attract. Next, an analysis of the competitive environment is performed, including collecting the following information:
the number of companies producing similar or replacing products;
properties of an identical product;
cost of goods from other manufacturers;
level of demand for these products.
Market research is aimed at identifying the part of the market that is characterized by the least competition or poor customer satisfaction. This will allow developing a special product taking into account the specifics of this segment or improving the existing one.