Saturday, May 21, 2011
5 Major Steps To Win The Market.
Market, the playground of any business. Here also two teams:- the buyer and the supplier. Like other games, it also needed strategies, plannings and directions for win the market. But there is one difference from other games is that, in other games, a fresh day there has been a fresh start. no relation with last game. But in the case of market, it is little bit different. Here, the success of fresh day depends upon the work done on last day. If you done well today, it will be accelerate your next day. Like that there are a lot of things which plays a key factor in winning the market. Let see the major factors for winning a market.
Key Factors For Win The Market :-
1)Excellent Supply Chain System :-
It is found that a plenty of customers are unsatisfied with the delivery system of goods at the time. 90-95% has been lost due to poor delivery system. This is last process of sale but it is important among all. Everything (good product, well publicity, good quality,brand value)spoiled out when the goods, don't reached to the destination of buyer at time. this is the major problem for every organization at present time. But if anybody able to overcome this problem, he can win the market. So, the organizations should take more attentions on their supply chain system.
2) Provide Only True Information to Buyer About Product :-
This is again another major point where an organizations lost their loyal buyers. Sometimes, for promoting goods, we provides some wrong information's to buyers. This is terrible. Due to it, we can sale our goods only first time to buyer but this practice will lead to decline future sales.
3)Right Product at Right Place :-
A supplies should take care about this point. Because this is very true fact. Different peoples has different nature and buying habit, so it not means that a product which is best selling at a place will also have same result at other places. It is a major part of market research. Launch only suitable product at appropriate place. Don't sale microwave oven in rural areas.
4)First Come First Service :-
At present time, nobody wants to wait for anything. So, If you want to beat your competitor, you should introduce your your product before competitor. Market is totally first come first service.
5)The Market Gainer :-
Every time customer wants for something new. So, to satisfy the customer need and win the market a supplies should introduce a fresh product with others. The fresh may be something new or some old but which has not been shown to buyer last time. This product is called market gainer. Note, only one fresh product can lead to increase the sale of your old ones.
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The Modern Marketing Strategies..............
ReplyDeleteDear Mr. Tripathi,
ReplyDeleteAs you say that "Don't sale microwave oven in rural areas", this seems very pessimistic attitude. You must have aware of BATA Story. When they launched their operations in India, They were having a market research result. The result was in India no one uses shoes.
If they had followed your strategy, no one could know what BATA is..
They applied a positive strategy and became a market leader.
So what I feel , to become a market leader or to penetrate in an uncaptured market, you will have to think "HAT-KE".
Best Wisheh,
Abhishek Sharma
The strategy of First Come First Service will not always lead to the victory.
ReplyDeleteThe theory of Second Entrant is extremely popular in Indian Market, because as a first mover, you will defenately commit some mistakes, but the second mover will rectify your mistakes and will launch its products with a Perfection and your first mover is thrown away from the market.....
I appreciate you for your 5th point of The Market Gainer .
ReplyDeleteOf you want to remain in the market, you will have to be innovative in terms of new products..
Dear Abhisek
ReplyDeleteOnce again very thanks for your comments and ideas. I have separate answers for your all quarries.
1) As your 1st query:- I am not against to innovation, I just want to apply the thory of Positioning. Proper positioning is needed for any new business.
2) You are right the the strategy of first come first service not always lead to victory, but think if you have a good idea but due to the phobia of market risk, you wait. and at the same time some other entrepreneur entered with the same idea and become market leader. What will left with you.
"No Risk, No Gain"