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Category: Annuity
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Identify new markets and study competitors products

Identify new markets. The Organization has been looking for new opportunities or from time to time, accurately monitor changes in the market. Directors of reading newspapers, attend trade shows, examining competitors ‘ products, collect market information in other ways. You can get many ideas using informal methods to gather information.

Also take advantage of official receptions, identify new markets. One useful trick using product and market development network

More in depth introduction to the market is the growth in sales for less important target group of buyers without making any changes to the product, the company will work with existing products in existing markets, reduce the price list, and increase spending on advertising and refinement to advertise call, spread over a large number of shops and provide them with more prominent display on shelves, etc.

Expand the boundaries of the market-find an existing product in new markets.

The development of new goods goods supply to customers in existing markets, launching the product in new packaging or with new components or new packaging, using the options for possible amendments product or entirely new brand targeted at different groups of users. All these strategic approaches to product development.

The diversification of new product offerings in emerging markets, where the company can open or buy production unrelated to its current group of products and markets. Some companies seek to identify attractive, in their view, emerging industries. In their opinion, half of the secret of success-sneak into enticing activities rather than trying to achieve economic efficiency in the industry unattractive.

Attractive marketing opportunity a company marketing efforts where specific company can make tangible benefits, without losing sight of the objectives, taking into account resources.

Choose target markets. Identify and evaluate market opportunities, generate new ideas, and the problem in choosing the best ideas from a number of good, any relevant to the objectives and resources of the company. The company must ensure successfully with representatives of most of the market, will be able to establish good relations with suppliers of precursor chemicals and other equipment and materials for producing new; contains strong links with major marketing intermediaries, who will be delivering their products to customers; that will put this tool, which will be attractive to variations of similar preparations offered by competitors, to hack into this field will cause irritation to the public.

In addition, you should examine every opportunity in terms of the size and nature of the market. This process consists of 4 stages: measurement and demand forecasting, segmentation, choose the target market segments and product positioning in the market.
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