Examining the Sector

A very important part of marketing is knowing who you are
targeting. You need to understand who you are marketing so
that you can do it in the best possible way. You also need
to research the industry and see what else is out there. You
need to look into the competition and you need to compare
the marketing techniques of those companies.

Despite the importance of knowing your market, you would
be surprised by how overlooked this part of marketing can
be. Investigations have shown that most companies fail to
complete all of their intended research by as much as half.
The more research that you can complete the better your
chances of marketing success.

Know your Opposition

You can learn a lot about the industry by checking out the
market. You should look for other companies and business
that are offering the same product or service. You don~t
want to copy or mimic them but just to see how they are
marketing their product.

By looking closely at your competition, you can get a clear
idea of which marketing strategies work within your sector.
Learn from others mistakes!

Understanding your Buyer

It may seem obvious but it is important that you know your
customer. Part of researching the industry involves
researching your customers so you know who you are going to
market to.

There are different ways of getting to know your customer.
You can observe people. Customers are everywhere around you
and this is a great way to get to know them. You should also
try to observe someone using your product. You want to do
more than just watch them. You will want to take notes. You
will want to observe how the customer is using your product
and how they seem to feel about the product. You can tell if
the customer is enjoying the product or if they seem
disinterested.

Having watche,d it is now time to ask some questions. There
are many ways of getting answers. You could try the
personal, one to one approach or a wider written survey. As
well as asking about your product, consider asking about
competitors - you will be surprised how much you will
learn!

Do not underestimate this stage of the marketing process.
Doing you homework and knowing your industry is absolutely
crucial if you are to make the most of your advertising.
Take the time to do it properly!

The author, Scott F. Geld is the Marketing V.P. for
<a href="http://www.marketingblaster.com">Marketing
Blaster</a>. Feel free to write him with any
questions or comments about this article at:
http://www.MarketingBlaster.com/contact.html