The Cohesive IPT Marketing Campaign
IPT is small business. We should keep in mind that it is not to be compared with other companies with regards to financial status and that it should use marketing methods for it to be doing well. These marketing tools used by companies aim to gain advantage in the market. They help lead in market competition among rival companies.(Les,2007)
The first issue is segmentation. Segmenting involves division of groups according to their similarities having different approaches per segment. This includes demographics, behaviors, and geography. Watching the performance of competitors can give idea of the operation. Finding it effectively can use this type of marketing in your own business,
The second is finding the target audience. Targeting is finding the perfect market that will patronize your products. This includes age, sex, preferences etc. Amazon for example, made websites for different races so that despite of diversity of culture, they can still buy their products.
Thirdly is positioning which is placing of the product in someone’s life with regards to other products as well. Home Depot uses this method effectively by having their equipment products and showing you how to use them in one place leaving no hassle to the clients when they start using the purchased items.
And lastly is differentiation. It is modifying the products to be more presentable to the target market. It also involves the differentiation of your own goods with competitors’ products and gives the market a variety. Starbucks uses this method not only in their coffees but also other offerings such as shortcakes and hot chocolates for those who don’t drink coffee.(Sheri Taylor,2007)
By using these methods, IPT can efficiently market its resources. Segment, target, position and differentiate products from other companies to get the market. They will all help maximize the available resources.
Les(2007). Marketing Methods: it’s Popcorn Time. Retrieved January 11, 2008 from <http://www.associatedcontent.com/article/498175/marketing_methods_its_popcorn_time.html?page=3>
Sheri Taylor(2007). Market Segment, Market Targeting, Positioning, and Differentiation. Retrieved Jan 11, 2008 from <http://www.associatedcontent.com/article/143199/market_segment_market_targeting_positioning.html?page=2>
ChameleonNet(2007). Online Marketing. Retrieved January 11, 2008 from <http://www.chameleonnet.co.uk/marketing.aspx>