Market Strategy
We need to do big strategic studies…
a) To understand how attitudes turn into behaviour which eventually become habits
b) To look at how these attitudes and habits vary by different market segments
c) Ultimately so that we can exploit opportunities with the product or service offering through:
- Selling people something they have never used before>
- Selling them an alternative to their regular product
- Selling them more of what they already buy from us
From an understanding of the structure of demand, a successful business plan is created. Successful market segmentation is about:
Creating a strong foundation of knowledge of the category, its consumers, and existing brands:
- Identifying opportunities for innovation and repositioning
- Driving revenue by increasing spending from existing customers or by identifying high-potential new customers or purchase occasions
