Internet Market Selection
The advent of the Internet has made this world an almost borderless world. In the context of enterprise, the Internet is becoming more and more important to many companies and organizations around the globe. It has greatly expanded the market and enhanced the market reach of businesses, be they small businesses or multinational corporations, to the extent that whatever market segments they can't reach previously, they can now do so to a large extent.
In the context of Internet Marketing, my central message to business owners is that in order for you to have the competitive advantage, you'll need to effectively identify and attempt to satisfy the genuine needs and wants of specifically defined target markets, and that you'll have to do so more effectively than your competitors. Your ability to do so will have a positive profound impact on your business.
What Is An Internet Market?
There're many definitions of the term "market"; it all depends on the context in which it is used. The way I look at "market" is that it consists of people and/or organizations that have needs to be satisfied, have the purchasing power or money, and are willing to spend the money on whatever you have to offer. It generally implies a demand for a product or service, whatever context in which it is used.
From the marketing standpoint, a market consists of your existing customers as well as potential customers.
Why Internet Market-Orientation?
You should realise, as a business owner, that in order to effectively relate your product and/or service offerings to the needs of the marketplace, you should be market-oriented as opposed to product-oriented. What I mean by market-orientation is that you look at the marketplace through the media of marketing research and sales forecasting.
Market-orientation therefore makes it impossible, with the exception of a few special circumstances, to treat the market as a mass of homogeneous potential customers, as the overall market consists of many diverse sub-markets and groups, each with sufficient similarities to be treated as separate markets by themselves.
Furthermore, within each of these sub-markets or groups, there're further divisions or sectors. For a product category (e.g., computers), your focus should be on those sectors within the sub-markets or groups which are most commercially attractive to you for a given product form (e.g., the desktop market or the laptop market), rather than be concerned with the whole population of potential customers for that product category.
This is common sense as you're in business to make profits.
Identifying these sub-markets or groups would allow you to more effectively position your product and/or service offerings, your internet marketing communications, your pricing policy, and the rest of the 7 marketing mix elements.
The result is more satisfied customers and increased profits.
About the Author
Copyright 2004 by Larry Lim, MarketingSphere
Larry Lim is a practising marketing strategist and tactician who dishes out highly effective marketing strategies and tactics that will enable you to successfully start and grow your business on the Internet.
His Internet Marketing Strategy website is jam-packed with internet marketing secrets and softwares that will skyrocket your sales, and shoot your profits through the roof.
Latest News
Best Syndication | A-1 Internet Design - Keeping Pace with the Global Internet marketing Best Syndication, CA - Their web programming services are wide ranging; A-1 Internet Design professional expertise also extends to providing Internet marketing and search engine ... |
Earthtimes (press release) | NY SEO Firm Ranks High With NY Businesses WebWire (press release), GA - New York businesses aren’t taking any chances when it comes to their internet marketing and Search Engine Optimization (SEO) strategies. ... IndiaBook Indian SEO Company Launches Search Marketing Outsourcing ... Cybertegic's Search Engine Optimization Services Puts ... Search Engine Optimization Inc. Announces New Addition to Senior ... |
Affordable Internet Marketing and Web Design Company Proves a ... PR.com (press release), NY - With the competitive nature of internet marketing companies, it can be difficult to find an affordable internet marketing and web design service. ... |
![]() Search Engine Watch | Search Marketing Expo West, Offers Early Bird Rates TheHostingNews.com (press release), OR - Search Marketing Expo -- SMX West is produced by Third Door Media, Inc. Third Door Media's mission is to empower internet and search marketing professionals ... Going to Search Engine Strategies? In a New York Minute! |
EEG research 'could aid internet marketing' Digital Response Media, UK - Paul Blunden, chief executive of brand consultancy Foviance, said that EEG could help businesses to measure "the emotional reaction" of consumers when ... |
![]() Direct Traffic Media | Online marketing and email pointers for small firms Direct Traffic Media, UK - She points out that "online marketing is about making money", therefore, a strong email drive is essential to "any well-rounded internet marketing campaign" ... |
Hotelier’s 2009 Top Ten Internet Marketing Resolutions By Max ... Hospitality Net - By Max Starkov & Jason Price Here at HeBS we firmly believe that a comprehensive, ROI-centric Internet marketing strategy is the hotelier's perfect ... |
Internet Marketers Gain Access to High-Quality Low-Cost PLR ... PR.com (press release), NY - Internet Marketers can now purchase professionally written, low-cost Private Label Rights niche articles at The Internet Marketing Maven website. ... |
Pacific Life Annuities & Mutual Funds Division Names New ... MarketWatch (press release) - Christine will have responsibility for Marketing Communications, Internet Marketing, Channel Marketing, Investment Marketing, Advanced Marketing, ... |
Find Businesses Faster with Google Maps for Mobile Marketing Pilgrim, NC - Carrie Hill is the SEO Team leader for Blizzard Internet Marketing where she specializes in optimizing travel, tourism and accommodations websites. |
Resources
-
Power Profit Marketing
Empowering The Internet Marketing Community With Great Marketing Tools, Manuals & Software
-
35 Products For One LOW Price!
Get 35 Internet Marketing Products For The Price Of One!
-
Make money on the Internet
How to make money on the Internet through Internet Marketing and work from home
-
The Internet Marketing Master Plan!
How To Turn Your Passion or Hobby Into a $100,000 a Year Money Machine on the Internet.
-
The Truth About Internet Marketing.
Discover the astonishing whole truth and nothing but the truth about Internet Marketing!
-
NEW -- Marketing, Internet Marketing, email Marketing, Marketing plan, direct
Marketing, joint vent
Offers Marketing tools, tips, strategies and techniques for Internet, email, direct and joint venture Marketing.
-
The Esuccess Code - A Step By Step Guide.
Newest, Hottest, Most Cutting-Edge Internet Marketing Strategies You Can Use To Earn A Fortune With Little Or No Effort.
-
Internet Business Marketing - Sen Ze's Mini-Encyclopedia Of Low-Cost, High-Profit Internet Business
Discover 19 Top Internet Businesses as practised by Top Internet Marketers and Internet Entrepreneurs from around the world.
-
Internet Marketing - Pro Shop.
Internet Marketing.
-
Web Site Design and Development
Web site design, development, and promotion guide for business and Internet Marketing web sites.

