Today I will write a little bit on Targeted Market Penetration Strategies.
What is a Targeted Market Penetration Strategy?
Anytime one embarks on any campaign aimed to increase ones product and/or service awareness, one needs to identify a target. The target demographic is also known as a target market. Once the target market has been identified then one needs to define strategies to penetrate (or break in to) the identified target market. Therefore this process in its entirety is called "Targeted Market Penetration Strategy".
Why is having a Targeted Market Penetration Strategy important?
Each market has different operating dynamics. Therefore a generic market penetration strategy will not be very effective. A generic market penetration strategy will not address the nuances of a particular demographic. In such a scenario it is more effective to design specific strategies that address all the different nuances of the target market. For example, one may deal differently while approaching a prospect in the automotive industry as opposed to approaching a prospect in the air transportation industry. There may be different protocols to follow when presenting proposals, etc.
Next we will talk about how to find and identify industry specific protocols.
Monday, October 1, 2007
Targeted Market Penetration Strategies
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