To identify the most attractive target markets for a business, what should we look for first? Why?
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- The picture is an illustration of targeting potential market and a potential market need. To identify your new potential markets, you consider every target demographic that you currently sell, as well as those which are not yet targeted. Consider yourself as an entrepreneur and ask the following questions. 1. What other products do my customers need now? 2. What related products will they need in the future? 3. Who else could make use of the products I am selling now? 4. What demographic information do I have with my current customers?How do companies develop a marketing implementation plan, and what are some key components of a successful plan?Answer the following: Among the seven P’s of Marketing or Marketing Mix, does the 'Product' be the first priority of the organization? Explain briefly. How the Marketing Mix help the entrepreneurs? What is the significance of the marketing mix to the students and future entrepreneurs?