Page 144 - Demo
P. 144


                                    solution/product. To take the travel market as an example, people need totravel. Currently, most buy a car (new or second-hand) to travel, but theycould use buses or bicycles to make the same journey. The travel marketexists and is very large. On this market, there are a lot of different solutions,with many competitors, however not for every context. To be efficient on amarket, information must be gathered on the target market and customerneeds and preferences. Market research can be conducted to collectinformation on various issues: internet, research literature in marketing,professional reviews, professional studies, professional trade unions, socialmedia, such as LinkedIn, Instagram, TikTok, Google reviews, and testimoniesthat can be found on the internet. These testimonies are very important because most customers look at theserecommendations (80% of decisions are made after looking at user reviewson Google). During this stage, the company of the product/service alsocollects keywords and some typical sentences used by customers orpotential customers. The time that potential customers stay consulting thewebpage is measured and has to be combined with the number of pageswhich have been consulted on the same website. This analysis is useful fordiscovering which product is more attractive and explaining the customer%u2019sresearch behaviour. The aim is to find a way to stop them moving on in theirresearch for a solution.2. Product placement works in conjunction with the other componentsof the marketing mix %u2013 price, product and promotion. The marketing mix wasdefined by E. Jerome McCarthy (1960) and is the real first consideration of anefficient product launch on the market. The achievement of efficient productplacement takes time, persistence, and a willingness to learn from thecustomers in the target market. The crucial criteria of placement is to find theright location so the product can be discovered by the customer or the rightpartner who will be the ambassador of the solution. It means that a companycan decide to manage the direct selling process (with ecommerce tools ordirectly in a shop through the company website) or to negotiate a distributioncontract with partners in Europe with a large customer portfolio in the targetcountry. Selection depends on factors such as language, habits, the presenceof well-known distributors in the country, and the presence of competencesin the company salesforce. In the case of distributors or agents, branding is an important support fornegotiations. In the case of an international and well-known brand,distributors will work hard to obtain this product/solution because thedemand in their country is important or because it is aligned with an attractivemarketing strategy. If the brand is not so well-known, this cooperation could1443 Frugal Innovations
                                
   138   139   140   141   142   143   144   145   146   147   148