Awhile back, we wrote an Industry White Paper titled “Market Technology: The Missing Link.” In its simplest form, Market Technology outlined a methodology, which advocated that a company’s market program (effectiveness) was, as critical as, the product and services that a company engineered.
Possibly, more important – especially for small-to-medium, sized companies that had to get it right out-of-the gate and did not have the margin for error that larger firms have. Market Programs can make or break a firm. This article discusses a process orientation to define/develop effective, Market Programs, which can impact several areas:
- Vertical Industry/New Market Development
- Product Launch Introductions/Roll-Outs
- Competitive Attack Campaigns
- Target Account and Opportunity Base Development
- Distribution Channel & Strategic Alliance Development/Stimulation
As we overview this process, it is necessary to insert a critical role in the organization – the Market Programs Designer. No matter what your firm calls this role, it is essential to have a defined “owner” and skilled individual on staff that can translate critical business insights into effective Market Programs. Without this, your organization will be driven by bold ideas that stumble along or go nowhere.
This is the primary reason that many CEOs are reluctant to put the power stick in the hands of Marketing and invest. If they have been let down by the lack of results in past efforts, it only makes it more difficult for the Marketing Team to have a voice. This may explain the reason that Marketing defaults to trade show coordination, product support, lead generation and collateral development, as their primary focus in many organizations.
Here is a summary of the process steps to feed/fuel effective, Market Programs development:
1. Research Phase (Doing the Homework) – this does not https://itrainkids.vn/khoa-hoc-lap-trinh-scratch-cho-tre-tai-tphcm/ have to be a strict, empirical study. For each program, a range of outside sources should be tapped to obtain or reinforce the insights needed to develop a baseline program profile.
For example, if the focus is on New Product Introduction, then engaging with Industry Associations/Groups that cater to your target segment (niche) and key customers and prospects (and even some ringers – competitors’ customers that selected them over your firm) can be engaged to gain critical insights. Cover your bases – obtain pure, unsolicited responses on Market characteristics, buying attitudes, evaluation/selection criteria, price points, problem-set, perceived or derived benefits (from use), key applications, packaging considerations, economic factors, competitive influences (tactics, options, alternatives, etc.), timing, cost/return considerations (breakeven scenario), roll-out incentives, etc.