Ask your question ... sign up today! It's FREE!
Strategy     
 
This question has been closed, and points have been awarded.
Market Entry Ideas?
Posted By: Nicola* on 1/22/2004 11:59 AM (CST) 125 Points
I'm currently writing a marketing plan for entry into a new market segment. I'd appreciate it if anyone had any ideas on how to establish a technology brand in a new market area and how to generate awareness and position our company as a leader in this area?
Thanks!

Posted by: kklier* Accepted Answer
1/22/2004 12:07 PM (CST)
If you have a brand that was successful in another segment you can create a "domino" link to the new market by identifying how your company/brand will help with related success in this new segment.

If you have a new brand in a new segment then you need to zero in on the pain your company/brand solves for customers in this new segment. You should give a small overview of your company and focus on a specific offer that will land some accounts to validate the brand. After that you can do a deeper penetration strategy.
 
Posted by: briantuffy* Member Response
1/22/2004 1:03 PM (CST)
Nicola, great question. From where I sit I think the most important thing to do witha new product/service is to make sure that it is ROCK SOLID and that you can easily and clearly communicate the benefits your technology product to potential customers. When it comes to "brand building" in a competitive market, I think the important thing is that your product delivers. It is the "hard" way to do it -- but I think it is the only REAL and VIABLE way to build your brand --- so I am not able to suggest a "qucik fix".

Brian
 
Posted by: 5th P* Member Response
1/22/2004 1:20 PM (CST)
Questions:

1. Is this an established brand entering a new, completely unrelated market segment?
2. Is this an established brand entering a somewhat related market segment?
3. Is this an established brand that will be rebranded (i.e. new or modified name, product offering, etc) in a new market?
4. Is this an entirely new brand and a new market?
 
Posted by: AndrewS Accepted Answer
1/22/2004 1:56 PM (CST)
GENERATE AWARENESS:
Advertising (ATL/BTL)
PR
Sponsorship

Take your pick really, agree that if you are already successful in another segment then you leverage that.

Consider White Papers positioning yoursef as knowledgeable in the new area.
PR is great, but in the form of advertorials becomes more poswerful.
 
Posted by: Doug Hudiburg Member Response
1/22/2004 6:10 PM (CST)
One thing I've found that helps is to stop thinking of it as a market segment but as a target audience. Sounds trivial, but usually people define market segments by type of product or vertical, or some other designation. Focusing on the audience helps you start considering WHO will buy your product, what their needs are, and what value prop you offer to meet those needs.

I think taking a general market awareness approach to branding is a quick burn of a lot of money. You would be better off narrowing your focus to a highly-targeted niche that hopefully included early adopters and influencers, then totally blowing them away with the value you deliver. I suggest focusing on brand experience rather than the "branding" that is synonymous with "name awareness" ie expensive repetitive advertising.
 
Posted by: Nicola* Author Response
1/23/2004 4:16 AM (CST)
This an established brand entering a somewhat related market segment, with some similar target audiences and some entirely new target audiences. The new market segment is highly competitive with many small companies focusing on specialist areas.
 
Posted by: Val (Moderator)* Moderator Response
1/23/2004 5:53 PM (CST)
Hello everyone! This question was accidentally closed by the question author prematurely. She asked us to reopen it. So that's why you see one Accepted Answer above, even though the question is still "in play". Go ahead and answer for a chance at the Expert Points. A new batch of 125 points are available to those Nicola selects as the most helpful respondents.

Best wishes,
Val
 
Posted by: abhinav Member Response
1/31/2004 5:15 AM (CST)
Dear Nicola, if you are entering into a market then the target audience which is specified, should be first studied i.e. their needs and ability to pay for your product and then approached from 2 different sides i.e.
1st in a highly competitve market of technology, find out where you stand in previous market and how you as a brand can cash that in the audience which are quite similar to the earlier one as they might have heard your name. Even if they have not heard your name, in new market, then what are the qualities which you posses as a brand in previous market and helped you to reach at the current state can be applied.
2nd find out the proposition which these small oweners are providing and then whether you can provide the same quality at a cheap rate or not. Remember one thing that if you dont have a power to flow with the race then change the rules of the game according to your requirement. In both the cases the winner will be the customer but you too are going to be beneficiary later. Moreover try to persuade the audience that when they use higher quality at less rate then what are the benefits which they are going to get and in this case the help of local market research firms can be highly beneficiary. Afterall no person gets satisfied from a single product at all.
 


Get more answers ... ReTweet this!

Would you like to post a response?
Welcome to Know-How Exchange!
This is a collaborative community. We welcome everyone's participation.
All you need to do is login. Enter your account info in the box above (top right).
Not a member? Not a problem. Register here (it's FREE and EASY).




Know-How Exchange powered by MarketingProfs


Sponsored Links

Buy a Link Now

Just Released ... Download Today!
Just Released ... Download Today!
Look inside
User Name:
Password:
Remember Me
Forgot your password?

Top 25 KHE Experts
(Strategy)
ASVP/ChrisB (39399)
Jay Hamilton-Roth (37964)
mgoodman (33759)
mbarber (29493)
Frank Hurtte (25534)
W.M.M.A. (24591)
telemoxie (24052)
CarolBlaha (22078)
wnelson (18720)
Peter (henna gaijin) (17108)
NuCoPro (16186)
michael (16156)
stevea (13364)
thinkmor (10820)
PhilGrisolia=Results (10684)
SteveByrneBranding (9958)
Gary Bloomer (9531)
Puru Gupta (8985)
Deremiah *CPE (8318)
Wiglaf (8292)
SRyan ;] (7862)
darcy.moen (7712)
Pepper Blue (7080)
Mikee (6119)
Michele (5978)
Recently Posted Marketing Jobs
Senior Marketing Associate
Demand Generation Sr. Manager
Web Consultant
Director of Marketing & Community
Content Acquisition Manager
Marketing Manager
Senior Marketing Executive - ICIS Americas
Vice President, Marketing
[more jobs]

Join over 357,000 members ... SIGN UP!

My email address is and I'd like my password to be .

Already a member? Sign In!

My email address is , and my password is .


HACKER SAFE certified sites prevent over 99.9% of hacker crime.