To design a winning marketing strategy, what are the two important questions a marketing manager must answer?
A. What customers will we serve? How can we maximize profits?
B. How can we serve our customers best? How can we maximize profits?
C. What markets should we enter? How do we maximize sales in those markets?
D. What customers will we serve? How can we serve these customers best?
E. Who are our competitors? How can we beat our competitors?
What customers will we serve? How can we serve these customers best?
Wining marketing strategy is based on identifying the right customer according to your product and service. The winning marketing strategy also includes how to save their customers at their best to achieve the maximum market share. For this purpose, marketing companies have to use the target market strategy to identify their customers according to their goods and services. In this strategy, you can find your customers based on the place, gender, and income class, etc.
The target markets can be based on democratic, geography according to the nature of your products and services being offered. When a company selects a target, market-based on their product and services nature its main focus on to serve their customers at their best. For this per company can offer their products according to the customer requirements their quality standards etc. It can also include the after-sale services or product warranty and guarantee to satisfy their customers at their best. For example, Samsung mobile is offering an accidental warranty to its customer to retain their loyalty. These strategies can help customers to get their loyalty and customer-cause word of mouth for their products as well. Through this way, companies can gain loyal and satisfied customers instead of making new customers.