Marketing Analysis and Reporting

An In Depth Look at Market Segments For High Tech Products

Abstract

Marketing and marketing segmentation has morphed into a more scientific approach to sell products, services or ideas. All elements of a product, cycle through a virtual cycle that includes conception, survival, growth, takeoff and maturity. Marketers are constantly seeking to uncover new niches, exploit current niches, and create unlimited markets for their products. This is blatantly apparent in the high tech market as evident by the new Apple iPhone and ever expanding use VoIP by businesses and personal use. Segmenting these markets for a competitive advantage is truly the key to survival for many of today’s High Tech Companies.

In a perfect world, all your customers would be identical. They would have similar problems, wants or desires and require similar solutions and/or needs to satisfy their particular demand. Unfortunately for companies, each customer’s needs, problems or desires are as unique as they are. There are many different types of people, and they display about as many different types of buying patterns. These fundamental aspects are well understood by those responsible for market research, product development, pricing, sales, and strategy. Marketing is fermenting as traditional advertising decline in efficacy. Consumers are increasingly savvy, and the true task for companies is how can resist relentless commoditization and distinguish themselves from their competitors. Marketing has created a continuous dialog with customers, allowing them to hear just what they need to know, just when they need to know it. Promotional messages are not effective if customers aren’t receptive to them. Promotions are somewhat like weather reports and news bulletins- people need them when they need them; Too early and they are forgotten, too late they are ignored. The fact of the matter is that most people don’t want to hear from most companies most of the time, especially in this era...