A market strategy is a plan or blueprint for a company to succeed in a particular market. A market strategy aims to create customer value through innovation, efficiency, and differentiation. Companies that have mastered their Marketing strategies often outperform those that haven't. They also tend to stay ahead of competitors because they can adapt to changing conditions.
There are many ways to measure the performance of your company's market strategy. However, two metrics are most commonly used: return on investment (ROI), which compares revenues with corporate costs, and net profit margin, which measures profitability compared to income. To improve their market strategy, companies must first understand their target markets. To do this, marketers should conduct detailed research on their products, services, and potential customers. Once they know their target markets, they can develop a set of goals that will help them reach and surpass these goals over time. Finally, they need to ensure that their overall business model is sufficient to execute their plans. Discussed below are five companies that have mastered their market strategy.
In 1990, Bill Gates had an idea for his next-generation operating system based on the Unix operating system. He approached IBM about licensing the technology, but the technology was too expensive at the time. So he decided to develop the product himself. Although this decision led him into personal bankruptcy, Windows helped Microsoft become one of the world's largest corporations. Today, Windows accounts for over half of all desktop sales and has over 500 million users worldwide. In 2012, Microsoft announced that Windows 8 would be available for free until 2015. This move was made to ensure that consumers don't hold back on upgrading to Windows 8 because of the cost.
Apple was founded by Steve Jobs, who wanted to create a consumer computer that was affordable enough so that everyone could buy one. As a result, Apple became the first computer manufacturer to make computers less than $500. A few years later, Apple created the Macintosh, which revolutionized the computing industry. Today, Apple sells products that range from the iPod to the iPhone, iPad, Macbook Pro, iMac, MacBook Air, MacBook, and Mac Mini. With more than 1 billion active devices sold since 2005, the company has been incredibly successful in its marketing endeavors.
By 1997, Google founders Larry Page and Sergey Brin worked out of Stanford University's dorm room. Page started developing software called BackRub while Brin worked on a search engine named BackWeb. However, both projects didn't get traction. After seeing a newspaper ad asking for ideas for new search engines, Brin came up with the name "Gooogle." It was a play on the word "googol," which refers to the number 10 raised to the 100th power. After launching in 1998, Google went public in 2004. Since then, the company has grown exponentially, making it one of today's biggest Internet companies. By 2010, Android accounted for 50% of smartphones shipped globally. Today, Google makes money through Marketing, advertising, and other forms of online content, such as YouTube.
Nokia focused on mobile telecommunications. Its principal business areas are network infrastructure, services, software, and digital media. Nokia also owns 33 percent of Alcatel-Lucent and 39.2 percent of Siemens AG. Nokia has pioneered some critical innovations in the telecom sector, including cellular phones, wireless broadband technologies, satellite navigation systems, and 3G networks. For many years, Nokia dominated the global telecommunication industry. However, due to competition from cheaper foreign rivals and changing technology trends, Nokia lost its market share. In 2013, Nokia had a global market capitalization of approximately US$180 billion.
Samsung Electronics Co., Ltd.
Samsung Electronics was listed on the Korea Exchange Stock Market in 1962. Samsung currently operates across multiple industries, including automobiles, appliances, advanced materials, biotechnology, construction, consumer goods, education, finance, food, healthcare, heavy machinery, information technology, industrial equipment, logistics, life sciences, machine tools, medical instruments, memory chips, military, multimedia, mining, retail, shipbuilding, space exploration, sports and tourism, transport & automotive, and television. Due to its vast product line and diverse set of businesses, Samsung is often considered a conglomerate rather than an electronics manufacturer.
If you want to build a sustainable business that will grow over time, you must focus on your Marketing goals and your customers. Please make sure you know precisely why you are in business, who your target customer is, and how your product or service can benefit them. Only then can you start moving forward towards your goal. In today's world, competition is fierce. Your business may not always be the only option available. But if your competitors fail to deliver on the promises they've made, you should still be able to carve out a space for yourself that allows you to thrive.