Internet Market Selection

The advent of the Internet has made this world an almost borderless world. In the context of enterprise, the Internet is becoming more and more important to many companies and organizations around the globe. It has greatly expanded the market and enhanced the market reach of businesses, be they small businesses or multinational corporations, to the extent that whatever market segments they can't reach previously, they can now do so to a large extent.

In the context of Internet Marketing, my central message to business owners is that in order for you to have the competitive advantage, you'll need to effectively identify and attempt to satisfy the genuine needs and wants of specifically defined target markets, and that you'll have to do so more effectively than your competitors. Your ability to do so will have a positive profound impact on your business.

What Is An Internet Market?

There're many definitions of the term "market"; it all depends on the context in which it is used. The way I look at "market" is that it consists of people and/or organizations that have needs to be satisfied, have the purchasing power or money, and are willing to spend the money on whatever you have to offer. It generally implies a demand for a product or service, whatever context in which it is used.

From the marketing standpoint, a market consists of your existing customers as well as potential customers.

Why Internet Market-Orientation?

You should realise, as a business owner, that in order to effectively relate your product and/or service offerings to the needs of the marketplace, you should be market-oriented as opposed to product-oriented. What I mean by market-orientation is that you look at the marketplace through the media of marketing research and sales forecasting.

Market-orientation therefore makes it impossible, with the exception of a few special circumstances, to treat the market as a mass of homogeneous potential customers, as the overall market consists of many diverse sub-markets and groups, each with sufficient similarities to be treated as separate markets by themselves.

Furthermore, within each of these sub-markets or groups, there're further divisions or sectors. For a product category (e.g., computers), your focus should be on those sectors within the sub-markets or groups which are most commercially attractive to you for a given product form (e.g., the desktop market or the laptop market), rather than be concerned with the whole population of potential customers for that product category.

This is common sense as you're in business to make profits.

Identifying these sub-markets or groups would allow you to more effectively position your product and/or service offerings, your internet marketing communications, your pricing policy, and the rest of the 7 marketing mix elements.

The result is more satisfied customers and increased profits.

About the Author

Copyright 2004 by Larry Lim, MarketingSphere

Larry Lim is a practising marketing strategist and tactician who dishes out highly effective marketing strategies and tactics that will enable you to successfully start and grow your business on the Internet.

His Internet Marketing Strategy website is jam-packed with internet marketing secrets and softwares that will skyrocket your sales, and shoot your profits through the roof.

---

Internet Marketing On A Budget

Establishing a web presence on the internet is based on... Read More

What is Pay Per Call? How does it work?

Pay Per Call is the next wave of advertising on... Read More

Content, Content, Content.

Read any Internet marketing article, forum or tutorial these days... Read More

Help Your Online Customers Feel Confident Even If Theyve Never Heard Of You

The Internet world is truly exciting ? there is no... Read More

Reap Incredible Profit with This Simple Strategy

Why is it some people are incredibly successful at utilizing... Read More

Are You Limiting Your Income?

When first starting out in internet marketing, I was afraid... Read More

The Unsung Heroes Of Internet Marketing

One of the reasons that people fail to earn anything... Read More

Paid Customer List On Autopilot?

How do you get a truckload of buyers eager to... Read More

Website Sales: 10 Exploding Ways To Intensify Your Website Sales

Are sales at your website weak?Have you tried different types... Read More

Online Advertising Mistakes ? 3 Donts For Newbies

Are you new to Network Marketing? If you are, then... Read More

How To Get Free Publicity For Your Business

You don't have to spend thousands of dollars on advertising... Read More

Free Web Advertising: Chat Room Marketing Secrets Of Internet Marketing Gurus Exposed

Have you ever been to a chat room?Have you ever... Read More

4 Ways to Make Money from People Who Are LEAVING Your Site!

Oh no... are people leaving your site without buying?Get used... Read More

Now, Even A Monkey Could Easily Accept Online Payments

I just came across this web site called PayDotCom.comAfter reviewing... Read More

Secrets to Business Success on the Internet

Secret Number One: The Key Is A Niche MarketIdentifying a... Read More

Physical and Mental Fitness for Internet Marketers

As you may have already read in our article "Health... Read More

How To Come Up With New Product Ideas

Have you ever wanted to add new products to your... Read More

Discover Which Sales Triggers Are Most Effective When Mixed With SEO!

We all know the importance of gaining top visibility to... Read More

Internet Marketing for Dummies!

There are many people every day jumping into the online... Read More

Profitable Online Marketing - Guaranteed!

When you boil it right down, there are really only... Read More

Internet Marketing Tip - Go For The Bronze

Go for the bronze.Repeat...go for the bronze.That's right, DO NOT... Read More

The Most Successful Internet Marketing Model - Start with Free Tools, Spend Money Later

There is a particular web site where I regularly place... Read More

Take the Guesswork Out of Niche Marketing

Many of us learn from the Gurus that we should... Read More

The Internet and Network Marketing

After years of gut wrenching work and stress the home... Read More

Web Marketing: Unusual Tricks Of Internet Marketing Gurus To Attract More Visibility

Do you post to message boards, e-mail discussion lists, classified... Read More

Why Should I Visit Your Website?

If we can't attract visitors to our websites there's little... Read More

Be A Hot Guest

Want to make an impact with your online business in... Read More

What Great Online Advertising Really Is!

Many business people have a distorted view about the distinction... Read More

8 Benefits Of Helping An Online Business Newbie

Do your remember when you first ventured out in the... Read More

Niche Marketing, Niching Niches for the Ultimate Payoff

Niche Marketing, in simple terms is all about targeting hot... Read More

Internet Marketing Success Requires a Business Plan (Part II)

Formal business planning is a process that takes that "great... Read More

The Yin & Yang of Internet Marketing

Westerners believe opposites flow in a natural cycle always replacing... Read More

Things I Learned from Corey Rudl

On Wednesday, the first day of June, I received the... Read More