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CHAPTER 4- DEFINE
YOUR MARKET STRATEGY
If you don't know where you are going and
how you will get there? You may be already lost.
Market Position
What kind of image do you have? Are you; inexpensive, exclusive,
customer service oriented, high quality, convenience, or fast?
List the features you will
emphasize:
- What pricing strategy will you
use?
- % Markup on cost
- Competitive
- Below competition
- Premium price
Are your prices in line with your
image?
What is the percentage of profit margin have you allowed for?
What customer services will you provide?
What are your sales/credit terms?
Advertising/Promotion
Write a short paragraph that best describes your business:
What advertising/promotion sources will
you use?
- Television
- Radio
- Direct mail
- Internet
- Magazines
- Newspapers
- Business Journals
- Personal Contacts
- Trade Associations
- Yellow Pages
- Other
What are the reasons your chosen media is
the most effective?
What features will you promote?
- Applications
- Price
- Performance
- Delivery
- Reputation
- Service
- Exclusive
- Components
- Colors
- Sizes
- Uses
- Durability
- Design
- Availability
- Installation
- Terms
- Workmanship
- Other
What rationale will you appeal to?
- Accurate Performance
- Increased Profits
- Economy of Purchase
- Increased Production
- Durability
- Labor Saving
- Economy of Use
- Time-Saving
- Simple Construction
- Simple Operation
- Ease of Repair
- Ease of Installation
- Space Saving
- Other
What buying motive hot buttons will you
use?
- Bigger Savings
- Increased Sales
- Greater Profits
- Reduced Cost
- Time Saved
- Prestige
- Greater Convenience
- Uniform Production
- Economy of Use
- Reduced Upkeep
- Continuous Output
- Leadership
- Ease of Use
- Reduced Inventory
- Low Operating Cost
- Simplicity
- Reduced Waste
- Long Life
- Other
What emotional responses can you use to
your benefit?
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