Marketing Strategies It Is Likely Term Paper

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For niche markets, the customer base is smaller than for general markets. It is therefore necessary to ensure customer satisfaction at all times. Because interior decoration is a very subjective field, it is necessary for the company representative or business person to always ensure that he or she understands the customer's needs and wants exactly to ensure ultimate satisfaction.

In terms of competition oriented strategies, an interior decorator should ensure the quality of his or her products are superior and innovative in order to remain at the top of this competitive field. Further strategies can include the radical nature of the designs and decorating patterns themselves, or indeed building distinctive capabilities to give an advantage over competitors.

4.) a market challenger in a mature market would need to focus on customer oriented strategies. The main reason for this is the fact that mature markets have generally settled in an accepted price range for the public. As such, a market challenger cannot go far below existing prices without losing a significant amount of capital that will be very hard to re-earn.

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Customer satisfaction is one strategy that should be emphasized by a market challenger. The way in which customers are treated, for example, can be superior to the strategies used by competitors. Special introductory parties for new customers can for example be implemented to launch the new company.

Another customer oriented strategy that should be emphasized in such a case is value. A new company in this field can for example ensure that the similarly priced items on its shelves are nonetheless superior in quality to those of its competitors. In this way, customers perceive the value of the items as greater than those offered by competitors, and hence become more positive towards the newcomer. Customers and their willingness to abandon existing companies for the new one are therefore at the heart of its success or failure......

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