Market is very important area where the trading of goods or services takes place. We all know that business is a very complex operation, hard work and your product or service aren't enough. In order to succeed and correctly identify your target market, your product or service, you need to do careful market research. This is an organized study of the facts important to your business. These facts can be gathered from primary or secondary data.
Always set your marketing objectives and take into consideration the four basic forces that will influence your marketing effort:
An effective marketing program requires an effective marketing mix - that is, the best possible strategic combination of these four elements. It is also very important to use many ways to market your products and services, both online and off. Achieving a balance should be the key.
By targeting marketing programs to individual market segments, business management can do a better job and at the same time make more use of marketing resources. By dividing big tasks into smaller tasks, each one is going to be simple enough for you and your business to handle gracefully and it will give you instant ability to prioritize the actions you must take. For example, a small firm with limited resources might compete very effectively in one or two market segments, whereas the same firm would be buried if it aimed for the total market. Advertising media can be used more effectively because promotional messages - and the media chosen to present them - can be more specifically aimed toward each segment of the market. A company can segment its market in many different ways, and the bases for segmentation can vary from one product to another.
"One of the keys to marketing success in this new century is not to learn everything about anything, but to learn one thing after another. The best place to start is in the real world, here and now." ~Jay Conrad Levinson