Saturday, 27 October 2012

Some facts from Market


In particular category where competition already exists then it is very hard to be leader in such category. So, it is better to create new category and which be at least supplement of that existing category.

It is always advantagious to come first in the specified market. Being first in the market is better than having a better product than competitors

Company should not only think about to be first in the market but also to be first in the consumer's mind.
Marketing is all about perception. How people perceive products,success rate of that product is depend upon perception. Perception hardly change.
A company should focus about products and the category in which dealing. If company be not market leader then span of category should be narrowed.
If a particular word is already used or owned by a competitor then other should not copy of that because that represent a concept of synonymous for that company.
Marketing planning depends on company's position in the market. Being no.3 in market is not safe.
In long run perspective every category/market is like two horse race.There are always two leaders in the particular market.
If a company be second at place in the market then company should find weakness in strength of the leader and try to be diffrent instead of trying to be better than the leader.
By passing of time category of market can divide in sub categories. So, new companies should try to be leader in diffrent subcategories.A leader of particular sub category can be leader of other one category or may dominate.
Marketer always think about long term planning instead of short term profit.Marketing effects depends upon extended period of time.
At maturity of products instead  of create new brand, marketer should think about productline extension.
Companies should give up something in order to get maximum. There are three things to sacrifice - product line, target market,constant change
For every attribute there is opposite and effective attribute. Here opposite means similar  don't do.
It is most effective ways to get into a prospect's mind is to first admit a negative and then twist it into a positive.
In overall cases , only one brand of a company from same product line would be market leader.Trying hard is not a gurranty of success, there should be smart work as well.
To compete with competitors , a company should predict future of product or market as well as competitors plan. marketing strategies should be flexible to respond with changing situation.
Success often leades to arrogance and arrogance to failure. Comapnies should be objective.
Things should be droped, if they do not work instead of trying again and again.
Hype promotes awareness about product and often failed productes are heavily hyped.
Successful plans or long term plans are built on trends not on fades.Fades are like short time activity which can be or can not be occure at particular time interval, like fashion.
Money makes the market. Adequate funding is necessary for an idea to be successful in market.


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