|
The Marketing Edge
bulletin
What is your market?
Not as obvious as it
may appear! Rather than bread, consider appetite satisfier,
rather than pickles think meal accompaniment, instead of
cheese contemplate nutritious snacks. By widening the definition
of your marketplace, there are more opportunities for business
growth and expansion. Entry into previously regarded ‘other
markets’ becomes a serious option.
Large food producers
have been among the first to redefine their markets. Wall’s
had ice cream sales pretty sewn-up until Mars saw the chance
to grow their ‘hand held sweet’ market through
expansion into frozen hand held sweets.
Few would have prophesied
that grocery shops would successfully cross the boundaries
of competition and enter completely different market sectors Sainsbury
selling petrol, Waitrose offering internet access and Tesco
providing a wide range of financial services. To continue
expansion, companies must look beyond their immediate,
traditional markets, and examine the broader picture.
.../contd.
|
"Imagination
is more important than knowledge."
- Albert Einstein
|
|
