Target market strategy wikipedia,selling your software idea,ppt maker online video,host for photos - For Begninners

All branding, messaging, strategies and tactics ultimately have to have a home - the target audience. In 1996, Microsofta€™s chief, Bill Gates, pounded out a fortune-telling essay using Word 95. This involves increasing sales of an existing product and penetrating the market further by promoting the product heavily or reducing prices to increase sales.
Ansoff's matrix enables businesses to decide growth strategy based on products and the markets that the products are aimed at.
Customer targeting is as much about identifying groups of customers and those who influence your commerce chain, as it is about defining their collective personalities.

For example a sandwich shop which is doing well in one area, expands and opens another sandwich shop in a different region. For example if a business which usually sells food to families, decides it would like to sell cars to single men it would be diversifying. Under the matrix they have the option to stick with the markets and products they know (market penetration) or change one thing the market (market extension) or the product (product development).
These strategies involve making the most of existing markets and products, introducing new products, or entering new target markets. Through market development our sandwich shop has the potential to become a national chain.

For those prepared to take accept big failure risks for potentially larger rewards there is diversification into new products and markets.. There are different ways to define new markets including different locations for sales to aiming products at different customer groups (age, background, interests, income).

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