Question 5: What are the different market segments? Do we need to enter in all or just a few of these segments? Which segments are expanding and which are shrinking?
Market segmentation is a crucial part of a marketing strategy, especially one being utilized when entering a new market. In this fifth part of our market assessment series, we’ll discuss the importance of market segmentation.read more
Every business needs to establish a strong emotional link with its customers. The best way to do this is to create a business brand that conveys those qualities that you want your product or service to represent.
Companies like Apple, Google, and Microsoft have built brands that embody their corporate values and which help them to attract new clients. A business with an effective brand strategy can gain a tremendous competitive advantage and even charge a premium on the basis of the trust that its name evokes.
But how can you build your business brand and what exactly should it convey?read more
Question 4: What are the new market’s buying habits and how can these be exploited?
Knowing the buying habits of a market is critical for any business hoping to sell in that market. This is what we’ll discuss in this post, the fourth in our market assessment series.read more
The ability to analyze and deploy business intelligence (BI) data is increasingly becoming a competitive differentiator in today’s marketplace. By 2018, most business users and analysts will have access to self-service BI tools, Gartner projects. Companies that use data are five times more likely to make decisions much faster than the competition, three times more likely to execute decisions as intended and twice as likely to have top-quartile financial performance, according to Bain & Company research. If you’re not using data, you may be falling behind your competition and losing out on opportunities to gain ground in your market. Here are some tips for effectively collecting, storing and deploying data in order to grow faster than your competition.read more