New Product“Who is going to buy my product /service?” “Will there be enought of these people to make it worth my while?”
“GuiRes Research expertise would figure out who these people and organizations are, through market segmentation”
Majority of the firms have been accepted the need for a deliberate, systemic, and managed approach to generating game-changing new product ideas. Several studies conducted in the past have identified ‘idea management’ as one of the five best practices which increases in sales of an extra 7.2% from new. Given the importance of idea generation for firm’s sustainability, GuiRes offers wide range of services to the industries. Our team is pioneered in developing ideas using systematic methodology such as Voice Of Customer (VOC), open innovation and disruptive technologies
How to position your product or service?
Are you looking to build a brand identity for a product to place it in particular position in the target consumer’s mind? Are you looking for creating a ‘Tagline’ to sum up the essence of a product or do you want to ‘reposition’ your product to a different place in the minds of consumers.
We help you to select a wide range of positioning strategies to attract target customer segment. For instance, a supermarket can position them by increasing their range and quality of functionalities of products and services. Or even your firm can use symbolic positioning such as Handicapped are involved in packaging or even price positioning to attack specific customer segment that are more concerned with the price or service or experiential positioning to stimulate sensory or cognitive simulation such as health and beauty range.Why do you want brand your product or service?
- Branding or positioning helps customers to make choices by delineating the unique qualities and value that the product or service provided to the customer
- It assists customers to make purchase decision in increasingly cluttered retail environment by providing useful hints
- It would create identity in time and space.
GuiRes would help in identifying right positional strategies to differentiate from your competitors. GuiRes would help in identifying the competitors for your product, identify your products attributes, apply right methodology to identify target market’s perceptions of product and attributes, create a perceptional map and determine all competing product locations, at the end we position your product among the others based on attributes and idea vector. We create highly differentiating advertising themes, appeals and messaging, and help to position your product /service at right place. We also assist the firms to create appropriate brand name, logo, design, or packaging to create brand identity. GuiRes Research experts know how to ask the right question to gather the information you need to position your service or product. Discuss with our team today.
Targeting Market Strategies
How to select a target market? One or Multi-segementation to target
Given that you or your firm have already identified the right segment (e.g. it can be elites, health conscious people, daily comfort, fashion oriented groups, students, women), now the next step is to how to select groups of people or organizations to sell your product or service? This is a key step in marketing as identifying the most appropriate ones to be selected as target market is not always straightforward as it requires significant effort and commitment to implement an appropriate and targeting marketing mix? Since the buyers are not all alike else, before targeting GuiRes enables you to target right segment by considering various factors such as
- What is the size of the Segment in terms of revenue sales
- At what rate the segment is growing?
- Is price competitive? Or is this a high profit margin segment?
- How easy would it be to gain access to appropriate distribution channels?
- What level of new investment would be required?
- Would an existing brand be leveraged into the new target segment or would the firm be required to create a new brand? Or brand is relatively unimportant?
- How well does the proposed target market fit with the firm’s strategic direction and growth goals?
- Does the firm have the capability, in terms of financial and marketing resources to successfully compete in this segment?
GuiRes Research experts would help in identifying various targeting strategies such as differentiation, undifferentiated or mass marketing, concentrated, micromarketing or one to one you will lose business. There is no thumb rule of applying targeting strategies. Let’s consider that you wanted to introduce basic commodities such as salt or sugar, you can use undifferentiated strategy but firms also now use differentiation strategy by targeting their market such as health conscious, cost-conscious individuals who are interested in bargains and sales, and high-income range. Yet, for the entrepreneurial start-up ventures often benefit from using a concentrated strategy
Do you want to identify right targeting marketing strategy for your segment? How to create low cost products to target both India and sell them in the westernized nations like United States and Europe? Do you want to focus your marketing dollars and brand messages on a specific market that is more likely to buy from you than competitors? Are you looking for more affordable, efficient and effective way to reach your potential customers? Our Targeting marketing strategy services are extended to travel and tourism sectors, manufacturing industries, wellness industry, and other service industries. View our case study and research insight