A successful strategy can be developed by looking at the bigger picture of the market around you and your company in particular. “The elephant needs to be eaten in parts,” so I recommend studying yourself according to the following slender plan. If you need clarification on how to use this plan, call, I will share.
So, the main questions that will help sort yourself, your competitors, your product and your consumer. It will become clear to you what to do with all this.
Good luck with the analysis process. I understand that this seems like boring marketing stuff. But if you want to work ahead of time, and not eat up crumbs of competitors. If you want to understand what is happening around you and where all this is "rolling", "going" or "rushing", I highly recommend you and "them" to analyze well and build a transparent strategy, well-founded, without rushing around the market. Brownian movement in the market is created by those companies that work blindfolded, hindering themselves and others, confusing competitors and customers with their chaotic discount programs.
Gather willpower and go through the entire list to the end - everything is important there. There are no unnecessary questions.
1.1.1. You determine the territory in which the largest concentration of customers and the highest density of competitors
1.1.2. Go out and fight your competitors for market share
1.2.1. You find a "place" conditionally free from competitors
2. Market geography
2.1. Territory of your coverage
2.5. Neighborhood or several houses around your point
2.5.1. The market is large, you cannot cover everyone, define a clear geography of the market in which you will work.
2.5.2. Find a place "free" from competitors
3. What product will you sell
3.1. A set of its properties
3.5. Degree of demand
3.6. Customer readiness for the product
3.8. Consumer familiarity
QUESTION "TO WHOM"
4. Who are the potential buyers - "dossier" for a typical potential client
4.3. Social status
4.4. Financial position
4.5. Their needs
4.7. Behavioral portrait
4.7.1. Their set of values: family (children, grandchildren), economy, prestige, "I")
4.8. Where can they live
4.9. Where can they work
4.10. Where can they spend time
QUESTION "TO SPECIFICALLY"
5. Segmenting potential buyers - you cannot sell to everyone, because you cannot “please” everyone. All potential clients are divided into general categories:
5.1.1. Those who can bring the maximum income
5.1.2. Or those who are in the majority
5.1.3. Or those that will bring a stable income
5.2. Background - episodic
You decide who your priority customer is. Then you work with an emphasis on this category, without wasting resources on “not your client”.
QUESTION "WHO IS AROUND"
6. Who are the competitors (everyone who is engaged in identical activities within the reach of customers)
6.1. Name of companies
6.2. Location location
6.3. Kudos, convenience of their location for clients
6.4. How long have been on the market
6.5. Their assortment
6.6. Their pricing
6.7. Their advertising activity
6.8. Collect information about their financial stability
QUESTION "AGAINST WHOM"
7. Segmenting competitors
7.1. Direct competitors (those who sell an identical product, in the same market segment, at the cost of your product)
7.1.1. Zone of increased attention, observation - constantly
7.1.2. Their benefits are being explored
22.214.171.124. We adopt positive experience
7.1.3. Their shortcomings are being explored
126.96.36.199. Given their shortcomings, we provide consumers with an improved product, service
7.2. Background competitors (you are in the same market, but with different product properties or prices)
7.2.1. The product is not identical, but it draws off part of the financial resources of the market, smearing the overall level of profitability of the segment
QUESTION "WHAT IS EXACTLY"
8. Determine the assortment policy
8.1. Based on the territory (general economic situation of the market)
8.2. Customer features
8.3. Direct Competitors Policies
QUESTION "FOR HOW MUCH"
9. Determine pricing
9.1. Based on the territory (general economic situation of the market)
9.2. Customer features
9.3. Direct Competitors Policies
The price must not be lower or higher than the market price (no justification). An unreasonably expensive product will not be in demand. Unreasonably cheap - will cause distrust. New players in the market start by cutting prices. If competitors start a price war, it can bring the market down. The market quickly gets used to low prices and then does not agree to a rise.
10. Determine the service policy
10.1. Convenient location for clients
10.2. Comfort, prestige of the location and interior design of the contact area
10.3. What is included in the service (service is always a costly part of any business)
10.3.1. Customer features
10.3.2. Direct Competitors Policies
Example: if there are no advantages in price and assortment, it is possible to attract customers through the service policy.
11. Service policy includes
11.1. Availability of convenient entrances, parking
11.2. Availability of a comfortable client area
11.3. Loyalty programs
11.3.1. discount cards
11.3.2. loyalty cards
11.3.3. Happy Birthday
11.3.4. SMS mailing with useful information
11.3.5. satisfaction surveys
QUESTION "TO WHOM, WHERE, WHAT, HOW"
12. A successful sale is made when we find a narrow group of people according to the following scheme:
12.1. The product is needed by a specific group of people located in a specific location.
12.2. They need a product for certain reasons, at a certain time (in certain circumstances).
12.2.1 Nuts for beer are better sold in summer. Can't count on the same winter sales
12.2.2 Air conditioners - in hot summer. In a cold summer - no, despite the fact that summer is the season for this product.
12.2.3 Bowling clubs, coffee houses work in winter, in summer - people spend time outside the city, in nature.
12.2.4 It is better to open a shopping center in November - before the new year, then sales and traffic in the shopping center will be maximum, and the cost of attracting an audience will be minimal
QUESTION "TO WHOM, WHERE, WHAT, HOW"
13. The product they can afford at a certain cost.
13.1. When a product is delivered through the right set of values, the customer is willing to overpay, but he is financially capable of doing so.
13.2. An economy-minded woman can buy more expensive durum pasta if her child's health is emphasized.
14. They are not adherents of competitors, they have not decided, or there are no direct competitors.
14.1. Curling. Bowling is competitive, but not direct.
15. They learned about our product, its set of properties is presented in such a way that they like it.
15.1. Important! Inappropriate advertising can kill all the positive qualities of the product.
15.2. An advertisement for a household supermarket: a plump woman, not attractive, looks tired and rolls a cart full of purchases. Nobody wants to associate themselves with her.
15.3. Customers go to the supermarket despite the advertisements.