Wednesday, April 3, 2013

How To Improve Your Market Share?

How To Improve Your Market Share
A differentiated offering could lead to
 competitive advantage, but knowing
the actual need or creating it
may be a bit more effective.
Many have thought marketing as a way of promoting products or ideas by using a medium to enable the message or information to reach its target audience. They got it right, but marketing is more than just promoting product and service offerings. Today, it could be about creation of needs too.

Apple Incorporated is known for its ability to create a need for its product offerings. People could actually live without smartphones, but Apple Incorporated entices its customers with new innovative features associated with its product offerings. These innovations create a remarkable response from the customers as they realize the valuable advantage associated with Apple’s highly differentiated offerings. This differentiation strategy creates the actual customer requirement as the market continues to become sophisticated, making consumers understand what they exactly need.

Marketing has become a powerful tool for marketers who are trying to acquire relevant market share and competitive advantage. Apple Incorporated with its ability to lead in the competition has finally understood how to create change and cope with it. This leading mobile phone manufacturer has changed the way how competition should be played in its industry. There is a significant power in innovation that brings back the important role of manufacturing and understanding complex human behavior. Apple proves it.

People at some point may be unconscious of their actual needs, but Apple has made relevant suggestions with its target customers by unraveling their various needs through the innovative features of its product offerings. With its aggressive promotional activity, the product offerings Apple created have consistently reached a significant market share, leaving a notable proof that there is power associated with marketing. It does not only ensure products will reach to its target customers, but now it also takes into account the creation of needs.

Emulating Apple Incorporated might be the key to a promising market share, but today successful organizations learn to find the source of their competitive advantage. Finding how to create a need for their target customers is one of it, but there are still other more important moves they could actually take. This is what I am going to discuss in my next article.

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