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Most companies would employ the usual means of determining on how competitors and small time players would react to various reactions towards the market they are catering to. A lot of the immediate response would be geared towards product quality and product pricing, largely depending on the culture of the chosen area of concern. The impact on consumer acceptance will depend on their beliefs, but in most cases, product pricing is something that occupies more than 50% of how consumers will become interested in such products which can range from immediate goods up to the non-basic needs that most people look for to be able to satisfy their daily needs in order for them to survive and become efficient people today.
For sure, other market players have already prepared for this and are making hypothesizing strategies on how to think like their target consumer market. This is where promotions and proper budget allocation towards the aggressive marketing strategies that companies can afford to promote will step in. In a nutshell, the battle here seems on how much marketing investment as far as advertising and promotional support companies are willing to give to the product that will eventually make or break their goal overall. Any company that wants to cover a wide area and gain a larger share of the market will need to make risks, and this is the form of larger investment sums for the sake of product development and brand building strategies. There is no such thing as success in the lines of conservative planning corporation who have made it successfully in the business world today. There will always be a need for those pushes for them to be able realize fantasies and business dreams that most entrepreneurs and management teams look forward to whenever they engage in business ventures of any nature.
Links and References:
- Robin Hood Invades Business Schools
- Marketing Warfare in the 21st Century
- Minds Hate to Change
- 10 Rules for Building the Killer Brand
- Branding in the Blogosphere
Originally posted on November 5, 2006 @ 7:47 am