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Section 4 Overview of the Market Things to Consider Include the following key points: • What is your go-to-market strategy? - Word-of-mouth Marketing is the passing of information from person to person by oral communication. Customers are very excited to share with the world the brands they love. -Diversity Marketing: Develop a customized marketing plan by analyzing different customer segments based on cultural differences including tastes, expectations, beliefs, world views, and specific needs. - Online Marketing: As commerce has propagated to the Internet, a new form of marketing has emerged. From online banners to those annoying pop ups, online marketers have attempted to get their customers attention any way they can. - Event Marketing: Creating events is a great way to drive sales. Customers often need a reason to shop and events can often offer the perfect reason. - Freebie Marketing: Promote free give-aways or sell your products and services sold at low rates to boost the sales of other related products or services. - Niche Marketing: Finding a niche and filling it could be described as the secret recipe for growth in overcrowded marketplaces. - Social Media Marketing: Social media sites like Facebook and Twitter offer a unique opportunity for savvy businesses willing to invest in customer engagement. Social media marketing is still in its infancy but is growing up rather quickly. - Cross-Media Marketing: Provide customers information through multiple channels like email, physical mail, websites, and print and online advertisements to cross promote your products and services. - Promotional Marketing: Promotional marketing is a business marketing strategy designed to stimulate a customer to take action towards a buying decision. Examples: samples, coupons, or contests. - Free Sample Marketing: Unlike Freebie Marketing, this is not dependent on complementary marketing, but rather consists of giving away a free sample of the product to influence the consumer to make the purchase. - Personalized marketing (also called personalization, and sometimes called one-to-one marketing) is an extreme form of product differentiation. -others…… -Explain how you plan to continue to do this successfully. How are you getting your new business attention? How will you drive market demand for your product? -what are your plans for ensuring people are purchasing your products every day you sell? -Why what will you do to make sure people will be coming to YOU for this specific product or service? What is your branding strategy? -Do you have an attractive logo, slogan, overall business image that is positive to consumers? -How do each of your projects work together with you as an entrepreneur to create and maintain a brand? What is your pricing strategy? -Are you price higher than your competitors and provide a high quality product/ service -are you priced lower than competition- do u think customers will appreciate the low cost, products and convenience? -how will your price positively affect your success? What is your marketing communication plan? - How do u use technology, word of mouth, advertisement, etc to increase customers every day. - How much time are you dedicating to attract and retain customers? What is your distribution plan? -how have you made a plan to effectively serve customers your good or service – how have you ensured sales will run smoothly? What is your customer retention strategy? - what will you do for every customer to make them wanting to come back for more?