Market Strategy

Market Strategy

It’s an overused cliché, but the market place really is the battleground of business. Your effectiveness in understanding, communicating and engaging with your target market, in the face of competitive suppliers is the fundamental for business success. Developing and executing the most effective market strategy is therefore essential. But in most markets, the sophistication of customer demands, alternate supplier offers and conflicting market communication means the old approaches have lost their effectiveness. The good news is Ignetica can help…

Ignetica have well proven credentials in developing and deploying successful market strategies in some of the most complex and competitive markets in industry. From embryonic to extremely mature markets we have been able to help deliver both competitive success and lasting competitive advantage.

Its all about focus – Precision Marketing is Key: Increasing focus and precision has become critical to effective marketing, and this can only be achieved through detailed analysis to understand your business (strengths and weaknesses), the markets demands, drivers and segmentation, and the competitive environment, today and into the future. Identifying and targeting ever more refined segments, enables greater understanding of their needs, hence better targeted propositions, and it enables more effective communication, engagement and relationship management. It also enables you to play in areas where you have greatest strength, and competitors are at their weakest – winning in a competitive landscape is rarely best achieved just going head to head.

Don’t go head on - make the market yours. It goes with out saying that the offer (the product or service) needs to provide a strong value proposition to the customer, and that needs to be greater than offered by you competitors. It sounds simple, but lets add a few more dimensions. First it is always surprising the lack of real understanding of the customer demand and how your proposition satisfies this, both as a core product, but also through the augmenting product. May be you have multiple customers, for example a wholesaler, and a retailer, before reaching your end customer further adding to this complexity. If you can understand the market demands better that your competitors, you have the potential to move the competition to a whole different level, with you at the front. Second how does this compare with your competitors, how can you expose their weaknesses whilst accentuating your strengths?

Gain traction - drive engagement. No matter how well you know your market(s) and how strong your proposition, the key is gaining real engagement with the market, gaining traction to move your target customers from no knowledge to awareness, to interest, to desire and to action. Building a focused and congruent engagement plan, from mass media advertising, telemarketing, e-marketing, integrated campaigns to personal selling as appropriate is key.

Ignetica can help build your market strategy, bringing best practise approaches and a proven track record of delivery. We can undertake the required analysis and research, we design the market strategy, we can provide the proposition development and targeting support, and we can design highly effective engagement plans. Of course the effectiveness of your sales and marketing operations is also key to business success, and using our operations strategy service we help ensure optimum effectiveness. We can also provide ongoing operational marketing services to bring your strategy to life.