Page 49 - SKU-000506274_TEXT.indd

Market Smart: How to Gain Customers and Increase Profits with B2B Marketing

3. Pursue Opportunities
• Are customers demanding solutions that fit your
company’s existing capabilities or capabilities you
could develop?
• Where are your competitors losing? Why? Can you
pick up their dissatisfied customers by promoting a
particular service or benefit?
• Are there emerging markets that are lucrative for you
to pursue?

4. Mitigate Threats
• Where are competitors heading? Do you have the
resources to compete with them? Do you want to?
• Are there changes in market demand? Any new
entrants? Are there new regulations that will affect the
industry?

Now you’re ready to define the marketing strategy.As I mentioned
previously, I don’t think the four Ps are relevant to most companies
at this stage. What’s more relevant are these three areas:

1. Target Market(s): Who are the target markets (usually
segments within the overall market) that you’re going
to pursue? Which segment(s) best fit your company’s
capabilities, strengths, and goals? Which segment will
you pursue first, and then next? You can’t pursue them
all; this activity is all about prioritizing.

2. Value Proposition: Why should people buy from you
instead of your competitors? What are your specific,
objective, and quantified competitive advantages for
each of your target markets (they usually differ between
segments). Be very clear here—don’t fall back on business
jargon or vague statements.

3. Messaging: What words will you use to spark interest
among your target market? Your messaging will be based
on your value proposition. The focus should be on pain

51

© 2012 Lisa Shepherd