Keeping a Close Eye on the Market

How large is your market, and how much of that market do you control?

These are two very important questions to consider before you start any kind of marketing push, because the answers are going to affect what type of advertising you focus on.

I'll go over both of these in a little more depth.

The first thing to always ask yourself is exactly what kind of growth is taking place in your market. Some markets grow incredibly fast, others slowly but consistently, and unfortunately with others the market might actually be shrinking a little.

If the market is growing at a strong and steady rate than you need to be sure that you're getting the right amount of advertising done to capitalize on it. I would suggest as well that this marketing should be spread out over a diverse pool of people. When you get something like color poster printing done you need to do it with this growth in mind. Growth means new customers, which means you'll probably be focusing a lot of your advertising on pulling in new people.

If you have a slow but steady growth than a stronger reliance will certainly be on your current customers and keeping them happy while making smaller strides for new people. You don't have the same level of new customers coming in, making you need to keep your eye focused on those who you already have.

If you're marketing is literally shrinking than you not only need to make sure that you're keeping your current customers happy, but I would suggest also looking into what other similar markets to yours that you can jump into as well to continue growing your company. You'll need to start looking at other places you can put your color poster printing to good use.

Looking at the second question, how large is your share of the market? This is likely to affect the way that you advertise yourself. If you are a controlling force within your market than you'll need to emphasize what an expert you are in your field.

If you're still struggling to really find your place than you can focus on the things that your competitors don't do as well, and do your best to emphasize to people that you can give them a better service or better deal.

In a smaller market this is going to be even more important, whereas in a market that has rapid growth you might not need to focus on your competition much at all because you'll have a number of new customers you can bring in without taking away their customers in the process.

As I hope you can see, these two questions are going to greatly change the way you market yourself, and need to be considered before any kind of marketing push.

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Charen Smith writes articles about Internet Marketing. She has an extensive knowledge and experience when it comes to business strategies, techniques and business solutions.