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Understand Target Consumer

1685 Words7 Pages

UNDERSTAND YOUR CUSTOMER : Develop a clear picture of your target customer using market research and analysis. Understand their pain points and the benefits of your solution
ANALYZE THE MARKET : Some basic market research should allow you to find market data such as total available market, market growth (historical numbers and projections), market trends, etc.
ANALYZE THE COMPETITION : Ask yourself what other choices your target customers have to solve their pain point. Research and assess the strengths and weaknesses of each. Take a look at this article for more info on competitive marketing strategy
RESEARCH DISTRIBUTION CHANNELS : What is the best way to deliver your product or service to your target customers? This will impact your sales …show more content…

company can produce different results from company marketing efforts by altering company strategy for each of these ingredients in the mix.
It is kind of like baking a chocolate : the chocolate mix is primarily flour, sugar, eggs and milk. The final will taste differently depending on how alter the amounts of mix elements, and which types of ingredients you choose (e.g., do you use regular flour or whole wheat, white sugar or brown, etc).
Just like the chocolate, company can vary the end result by altering the amounts and types of mix ingredients. By using variations of the four components, company have the ability to reach different segments within beryl's target market.
This video by Professor Chris Birch from Staffordshire University talks about the mix of marketing.

PRICE
Optimizing Beryl's Marketing Pricing Strategy:
How to Price company Product or Service
Marketing pricing strategy can be one of the biggest challenges for businesses launching a new product or service. Pricing is one of the critical four P’s of the marketing mix – the others being Product, Place (Distribution) and Promotion. Get these four components right, on company way to having a marketing strategy that will support and grow company

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