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Strategy-Implementation Efforts, Essay Example

Pages: 1

Words: 351

Essay

Strategy-implementation efforts can determine the overall success or failure of a business.  Having a great product or service is not enough; if it is not marketed correctly, it will never reach the right consumer. With all the variables involved in the strategy-implementation efforts, there are two variables that are central to the process.  These are market segmentation and product positioning.  The two processes are the most important variables in the success of company’s strategy-implementation efforts.

Market segmentation requires development, penetration, and diversification in order for sales to increases in a new market or with a new product.  This also is important in cutting cost for a business by being able to maximize per-unit profits.  In the strategy-implementation efforts, segmentation directly affects the mix variables of price, promotion, place, and product.  It can also be beneficial in determining customer’s needs.  Ensuring that the proper product or service is in the area where sales can be maximized. This is also done by characterizing the needs of their consumers.  Analyzing the similarities and the differences that encompass each segment and its consumers is also a vital part of market segmentation.

Product positioning is another important factor and works closely with market segmentation.  First, you have to analyze and research the market.  This is important for product placement because it is where a company determining if a product will sell in a specific area. By doing this, it will prevent companies from the expense of placing product in places that they are not likely to sell.  Looking at the competitor of the industry and making sure any one market is not over saturated.  It is also important for a business to focus on areas that are vacant, but still have a high demand for that product or service.  Individual product placement for each segment is also important to make sure that each location is given the adequate consideration for its success.  Market segmentation and product positioning are the most important factors in the strategy-implementation efforts. By implementing these correctly, it will provide a much higher potential for return and ensure the success of a product or service.

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