|
|
||||||||
For most imaging and document technology firms, identifying and targeting unique market segments is essential in today's competitive marketplace. In many product and business categories, broad horizontal products with mass market appeal either do not exist or are dominated by a few players with increasingly tight margins New market segmentation strategies are often required for a company to create a strategic advantage over its competition. Companies need to identify or define new market niches, and then concentrate their product, marketing, and financial resources into that niche. A new market segment must respond differently to variations in the product, marketing, and distribution mix compared with other customers in the market. Key elements of a market segment include:
There are a variety of factors that must be examined to identify relationships and market segment discriminators, including:
Developing a new market segmentation scheme requires a structured process that yields actionable results. InfoTrends has extensive experience in market segmentation in the imaging and document technology industry.
Contact InfoTrends to discuss how we can help you investigate new market opportunities for your company. |