As we all know, businesses are established for a purpose - to gain profit. If you will think about it, you gain more profit share if you have more customers. The larger, the happier you are, right?
As a Marketing Strategist, what I value is attracting new customers compared to my respective fucking competitors, thus having a larger market share. But there is a drawback. By focusing too much on sales and market share, you forget that there are some other aspects to be considered.
Let me site an example. A local web hosting provider claims to have hosted the most number of domains. This implies that they have the biggest market share in their industry. What is their strategy? To compromise service by offering cheaper prices.
True, they attract clients through pricing, but the question is are their customers satisfied with the service they get? Most of them are hunting down new web host providers. The fools misled by the cheap price were enlightened.
Market Share is NOT everything. The bottom line is your business is created NOT JUST for PROFIT, but also to SATISFY their NEEDS and WANTS. In my opinion, providing a good product or delivering a good service is the best marketing strategy of all.
I agree with what you said that the highest hurdle is starting the business. It is relatively easy to get data about your market. However, these research will be of no use until implemented
Posted by rayespanol at October 27, 2008, 5:13 pm
Hmmm.
Makes sense. This is a problem mainly for those businesses that are nearly mature.
For me, the highest hurdle is still starting the business. You have so much inertia to overcome.
Posted by domesticatedman at October 7, 2008, 10:30 pm