Your Competitors
In terms of competitor analysis, your business needs to be tune whit
the latest trends before your competitors are on you will lose important
customers. As the world is changing at rapid pace the only way to keep
on top of your competitors by producing products and services that are
in line with today trends and than by bringing them to market before
they do. Being in tune with a particular trend affecting a specific mark
and acting on this trend can ensure long-term success for your products/services.
Product Development and Service Structure
It is than obvious that being in
tune with today's trends will effect your product development and
even your service structure. You will begin to produce products and
services that people need and in doing so fill in possible gaps in
the market that no company is looking as yet. This also includes
positioning your brand and forming a niche for your business that
will be in tune with a particular trend that exists in the marketplace
today and also directly affects your product/service. Producing products
and services that look good on paper and serve no practical benefit
for today's consumer is a waste of business resources. To be in tune
with today's trends when producing particular product or service
you need to conduct sound market research to ensure that your products/services
will have a better than average success rate.
Summary
Other areas of your marketing strategy
that today's trends have an important impact on include Advertising/Promotion
Internet Marketing and Marketing Implementation. As well as being
in touch with today's trends it is also important to be aware of
up coming future trends (5-10 years). By being in touch with these
future trends you can begin to set up your business for future success.
In summary, aligning your business marketing strategy to the trends
of life that directly relate to your business will ensure it targets
the right customers, differentiates itself successfully from competitors
and creates powerful and lasting branding strategy/image for itself.
Francesco Gilio is the managing
director of Central Marketforce, a strategic marketing firm specializing
in applying today's business and social trends to a company's
marketing strategy. For more information visit www.centralmarketforce.com or
call 02 9282 6418 for a free 1 hour consultation.
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