Concentrated growth with Houston SEO:
The sales market adjusts to new products, or goods and services are modernized to suit the characteristics of a niche. Often marketing is aimed at expanding the zones of influence of one brand product (horizontal increase in market share), as well as a competition.
This is a type of vertical marketing strategy. That is, it is not the market itself that is expanding, but the structure of the enterprise. It is based on the production of new types of goods or services, the opening of branches, cooperation with dealers and partners.
This type is applicable when the company has already exhausted its resources to promote certain goods and services on the market. In this case, it makes sense to expand the assortment matrix by releasing new or modified/modernized old products.
Also, the marketing strategy can be subdivided into types according to market orientation. For example, companies focus on launching and selling a single product in a niche or offering a choice of multiple product categories. There are companies that can cover the entire market with their products – full coverage or offer customers selective specialization by segment.
Marketing strategies can differ in the means that an enterprise uses for promotion – product matrix, advertising campaigns, corporate identity, pricing.
How Houston seo experts choose a strategy by type?
In practical terms, two perspectives need to be taken into account: advantage over competitors (USP) and positioning of the company in a niche. Consider several options for the first point.
If a company produces a unique product that has value for the target audience, then a differentiation strategy should be chosen. This type of marketing is more suitable for “old” companies that have a stable customer base, constant income, and the ability to invest in the development of a unique product.
If a company produces products with minimal costs for their production and sale on the market, it makes sense to focus on leadership in this aspect. This will allow you to take a leading position in pricing in the niche. This strategy is often used by companies operating in one region or city. For example, free shipping is one of the tools for implementing the minimum cost strategy. Enterprises with advanced equipment can reduce the cost of manufacturing goods and, accordingly, bring products to market at a reduced price.
Accordingly, these strategies can and should be mixed. For example, a company produces a group of products that have strong competitive advantages in a niche. At the same time, it has minimal production costs, which means that it has the best prices on the market.
The company’s marketing strategy also depends on the positioning. For example, there are niche leaders – these are companies that create the main demand in the market. There is always tough competition among them. Persecutors strike at the leader’s weak points, trying to take away the share of buyers. A leader must constantly innovate in a niche to be head and shoulders above the competition. In a word, marketers in TOP 3-5 companies work tirelessly.
There are middle peasants and niche players. The first and the second are looking for low-competitive segments, conduct “guerrilla” marketing. Here companies need to be flexible and quickly adapt to changes. Otherwise, big players will crush small businesses.