Friday, March 28, 2014

Understanding Markets (Week 3, Chapter 3)

As the other teams dig into the early phases of the marketing plan, I thought that I would look at the five different levels of markets and make some suggestions.  Looking over the first four types of markets on the list is almost like using a sieve to separate your "wanted" markets from your "unwanted".  It's quite obvious that a 4-wheel driving farmer from Illinois may very well be in your potential, available and qualified markets, but is likely not someone the company would put in the target market.  I've listed some quick thoughts in the third column for who may be in each of the five markets for the alternative fuel vehicle company.


Once the markets are defined, it's important for the company to stay abreast of any changes in the market.  Alternative fuel and energy problems are ever-present in our daily news.  Any legislation or future legislation on emissions could result in large market swings towards or away from particular alternative fuels.


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