How To Develop Vertical Market?

< p > the basic strategy of many enterprises is to meet the needs of the existing market with existing products.

However, in the current overcrowded industrial market, the limited market capacity and a large number of homogeneous products make the profits of many enterprises become thinner and thinner.

Therefore, enterprises should turn their eyes from competitors to customer needs, develop vertical markets according to customers' desire and needs for different products, customers' different purchasing behaviors and habits, and satisfy customers' needs for products or services of specific trades, occupations or demographic factors.

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< p > mining new vertical market opportunities to face potential vertical market opportunities. Enterprises can evaluate and consider from two angles: qualitative and quantitative.

Qualitative analysis mainly includes four dimensions: market potential, market competition, market risk and core competitiveness.

If the target market has great potential and strong correlation with the strength of the enterprise itself, and competition and market risk are relatively low, it is more suitable for entry.

If there are obvious advantages and disadvantages in many market segments, we need further quantitative analysis.

According to the five key factors, such as strategic attractiveness, < a href= "//www.sjfzxm.com/news/index_c.asp" > financial /a > attractiveness, tactical execution difficulty, risk and uncertainty, and related internal and external support, enterprises can conduct quantitative assessment of potential market and select the most suitable vertical market.

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< p > < strong > understand customer needs.

< /strong > we have set up an innovative way to investigate customer needs rapid innovation week.

This is an innovative process of generation, evaluation and execution of creativity.

With this process, enterprises can go deep into customers and discover their unmet needs, so as to find potential market opportunities.

Compared with the traditional customer research method, the rapid innovation week method has many advantages: it can get first-hand information on the customer site, achieve cross departmental and cross functional cooperation, cultivate and enhance staff's sense of innovation and cohesion, and create the image of enterprise experts in the minds of customers.

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< p > < strong > raise customer's awareness of brand.

< /strong > who can occupy the dominant position in the mind of customers, who will win the order by customers.

Therefore, after understanding customer needs, enterprises should make efforts to make customers more and better contact with their brands, products and services, and enhance their awareness of < a href= "//www.sjfzxm.com/news/index_f.asp" > brand < /a >.

Companies need to work closely with the marketing department to plan and execute promotional activities, including hosting or attending various trade fairs and seminars, promoting the use of Internet and social media, and promoting joint promotion with professional industry media.

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< p > < strong > developing products or services.

< /strong > after understanding customer needs, enterprises need to cooperate with product managers, engineering departments and manufacturing departments to develop different products or services according to these needs.

The development of vertical market products or services usually involves four steps: subdividing the characteristics of the target market, analyzing the advantages and disadvantages of products or services, combining or upgrading products or services, and implementing product or service programs.

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< p > < strong > expand sales channels.

< /strong > for enterprises, because of limited resources, the channel effect can not be maximized by their own strength alone.

Therefore, enterprises must learn to use external force to expand the < a href= "http://pop.sjfzxm.com/popimg/fz/index.aspx" > sales channel < /a >, including vertical market distributors, government agencies, trade associations, scientific research institutions and institutions.

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< p > < strong > to achieve market penetration.

< /strong > only by achieving market penetration can vertical market development take root and eventually create profits.

Vertical market penetration is the process of collection, screening, follow-up, implementation and service of sales items.

After the completion of the entire sales project, the enterprise should also do a good job of late project evaluation, record successful experience and related lessons, and extend it to other salesmen and vertical market distributors.

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