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Analyzing the Market: You cannot afford to operate on the basis of assumptions about the market and customers. You need to conduct a thorough analysis of the prevailing market environments, your strengths & weaknesses and the existing competition. Study your target customers and get in_depth knowledge of their needs and preferences. Based on this, you can determine your marketing objectives and position your product suitably.

Customer Segment _ this is talked about most of the time, but let's accept the fact that today's customers are fragmented to smaller niches. Your product and service will not be consumed by only one segment and at critical mass. it is likely to be consumed by smaller segment and multi. No more critical mass, but rather a solid spread of niches. For example, who buys iPod's today? If Apple only think about yuppies they are making a big mistake because apparently iPod is also used by women and people with active lifestyle. Another example, who buys from hypermarket? If hypermarket only focuses on households they may not survive or be successful like today. Hypermarket main segment is actually small business restaurant operators that buy in larger quantity compare to households and on daily basis. I've been there, I know! LOL

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