The Market for which it is intended
The Market for which it is Intended
Markets are divisible into sections or segments, each of which has slightly different requirements. Thus we have, on the one hand, the popular or mass segment of a market with one or more quality or specialized segments on the other. In deciding which segment of the market to penetrate, certain factors must be considered. The mass segment will obviously attract the larger suppliers. There is a hazard here for the small company which may find itself jostled constantly by giant competitors each seemingly intent upon depriving the others of any increase in market share. Selling prices in such circumstances are likely to be low. The opportunities for the small operator to increase his own share of the market in the face of such competition will be slender. In contrast, the large producers may find that the quality segment of the market is too small to attract them and it is here that the smaller organization may find greater scope.
One of the major problems of which the ONLINE MARKETING Manager of a large manufacturing company must beware is that of wasting his investment in a product by entering a market which is not big enough to enable a worthwhile return to be made on that investment. The establishment of the correct market segment is, therefore, of vital concern. The company's market research facilities should guide management decisions on this subject.
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