Managers' market innovation is always around judgment, decision-making and strategic deployment. We might as well analyze the wisdom and skills of managers in creating markets from four aspects.
(1) product innovation
It is an important content of market innovation for managers to explore the market with novel and unique products. With the help of products, we must first predict the "trend" of the market.
Develop your own products purposefully, but the emergence of new products can't create a market immediately. Secondly, market development also depends on the boss's marketing.
Finally, it is more important to understand the "real needs" of customers, so that we can have products that meet the real needs of customers and open up markets.
(2) Price innovation
The higher the commodity price, the smaller the demand; The lower the commodity price, the greater the demand. In fact, to sum up, the role of price is as follows:
The first major role is to expand the market; The second role is to establish a competitive advantage; The third function is to improve management.
If the company wants to make profits at a low price, it must save internal expenses to reduce costs. The price model of market innovation discussed here is to discuss how enterprises can use price, the most active marketing factor, to flexibly respond to competition and open up markets.
(1) High-priced innovation. The boss may wish to learn from the strategies of world-renowned entrepreneurs and realize market innovation at a high price. They have accumulated a lot of experience.
A. scarce goods are goods that can be set at high prices. Things are scarce, and the price of scarce goods will be high.
B. high-quality goods are goods that can be set at high prices. As the saying goes, high quality leads to high price. In similar products, high price always means high quality and high grade.
When a company wants to show that its products are superior to other similar products in quality, performance and service, it can set a high price. High prices can satisfy people's psychology of pursuing fine products and grades. Some goods are not the best sellers at lower prices, but the best sellers at higher prices.
C. noble goods are goods that can be set at high prices. Ordinary people envy the upper class and the rich class and always hope that they can reach their own status, so the upper class and the rich class have become the objects of their imitation.
What kind of goods are popular in the upper class, ordinary people will inevitably buy them, resulting in the "Princess Diana effect".
D. primary commodities are commodities that can be set at high prices. When the market has great demand potential, customers are eager for innovation, and competitors have not yet formed, the company can set a high price to launch new products, establish brand reputation and status, and quickly recover the investment in product development.
Market innovation through high prices must pay attention to solving such problems:
High price and low permeability. That is, commodity prices are high but market share is low. This problem can be solved by product strategy, channel strategy and promotion strategy. It's like a long bamboo pole across the city gate, neither horizontal nor vertical, just inserted in the city gate.
High price and high imitation. Because high prices often bring high profits, high-priced goods are easy to attract many imitators.
How to deal with imitators? The following methods can be adopted:
First, form a "standard". This is IBM's method, which is to let others follow suit. Finally, IBM is the standard of the computer industry, and it naturally becomes the boss of the computer industry.
Second, hinder imitation. Especially when the high-priced products are patented products, imitators can be prevented from entering through legal means.
Third, quit quickly. When imitators haven't had time to enter, they can quickly open the market through promotion and make a profit in the shortest time. When imitators enter, they quickly retreat to other related fields. When imitators began to share the market, they had moved to the newly developed market.
2 low-cost innovation. Low price can make the original potential consumers become real consumers and expand the extension of the market. Using low-price strategy to stimulate consumers with "cheap and good quality" can expand sales, gradually increase market share and seek long-term stable profits.
"Low price" is generally applicable to products with large production capacity, great sales potential, low product cost and familiar customers.
How to achieve "low price"? There are two sources of "low price": reducing costs and expanding scale.
It is worth mentioning that the company's market innovation with "low price" can also be applied to a variety of product management. That is, the "low price" product itself is not its purpose. The purpose of lowering the prices of such commodities is to stimulate the growth of consumers' demand for major profitable commodities and increase their market share.
(3) public relations innovation
Public relations is the abbreviation of public relations. The relationship between the public and the public refers to an activity that the company correctly handles the relationship between the company and the public in marketing activities to establish a good image of the company and promote product sales. Public relations is an important way for enterprises to innovate in the market.
Today, in the business world, many people "make a big fuss" about advertising, trying to put all their eggs in one basket, hoping to "reverse Gan Kun" through advertising, and the result is still "completely annihilated"; There are also many people who regard advertising as a sharp weapon in the fierce competition, open up their own markets and win their own success. Then, in the way of advertising market innovation, the following points are worth remembering:
1 willing to spend money.
② Advertising language should be extraordinary.
Don't let the advertising company kiss your ass.
The job of an advertising company is to advertise, and your job is to do business. Don't confuse the two.
Try to choose an advertising company with strong human and material resources, so that when your company develops, they can keep up.
⑥ Have a comprehensive understanding of the internal situation of the advertising company, not just one person or several people.
⑦ Don't let the grievances between advertising companies confuse your advertising policy.
Let the advertising company become an advertising expert and you become a marketing expert. In other words, don't let the advertising company do market research for you, because no one knows his occupation better than you.
Pet-name ruby has an open, honest and even competitive relationship with your advertising company.
(4) other ways of market innovation
In addition to the products, prices and public relations mentioned above, enterprises have to master many other ways in market innovation.
① Create practicality for customers. Market innovation in this way, perhaps nothing has changed, but the market has expanded, and customers are happy to accept this service and buy this product.
When adopting the method of "creating practicality for customers" to carry out market innovation, the most crucial thing is to ask such a question first: What do customers really need? What is the real "practical thing" for customers? Pricing is also an important way of market innovation. The pricing mentioned here is not a question of setting a high price or a low price, but a question of the boss's pricing concept.
How to set the price is very learned. Bosses should know that pricing is to make customers pay for what they buy, not what the company makes. You may ask, isn't the money paid here the same in the end? What is the difference? Yes, the money paid here is the same in the end, but the meaning is different.
From the customer's point of view, he thinks this item is "reasonably priced" and he is willing to pay "so much" because he thinks it is "worth it".
From the company's point of view, the company set this price because the production cost is very high, so it must recover the cost and make a profit.
When the customer pays for this project, he will not calculate your cost and profit. What he is considering is whether he can bring some practical satisfaction to himself. Knowing this, sometimes he will get unexpected results by changing the pricing.
② Adapt to the customer's reality. If a company wants to open its own market, it must adapt to the reality of customers. "Adapting to the reality of customers" is an important way of market innovation.
Although four ways of market innovation are mainly introduced here, they are not dogmas, and we don't want to be dogmas. Instead, I hope that bosses can find inspiration and brilliant ideas from these four ways of market innovation according to their own different situations.
Without competitive strength, it is obviously impossible to run a company well. It is not enough to improve one's own strength, but also to strengthen one's weak links through various means and truly compete in the market. Every contest in the market is risky, but in the risk, your company can become strong and no longer weak.
To run a company well, we must pay attention to two systems: one is our own internal system and the other is the structural system of the market. If you want to become a high-level competitor in these two systems, you must rely on strength to speak. Where does the power come from? Win the benefits in the competition!
Managers should regard honesty as a "signboard" to win people's hearts and win the market. Former businessmen attached great importance to "signboards". Signboards represent the reputation of a store, and can also be said to be a sign to attract customers to trust a store's goods and buy them with peace of mind.
Therefore, no matter which store, it attaches great importance to the "signboard" and does not want to cause any harm to it. The division of "signboard" is rarely done. Only after 20 or 30 years of hard work in the store, without hurting the signboard, is it allowed to open another one with the same name. Paying attention to customers and providing good goods are all credits that need to be accumulated for many years.
Therefore, without a signboard, you can't start a business. But you can't do business as long as you have a signboard, because credit is more important than paying attention to customers. Another point is that the company's business is changing too fast today. In the past, when business was not smooth, signs could be used to block the way, but now this kind of thing is not allowed.
In other words, it is no longer possible to rely on a signboard. A shop that lacks strength or has no business, even with beautiful signs, will not prosper. Times are different.
It used to be important to have credit, but the credit accumulated over the years may also be destroyed. It's like a house that took a long time to build, and it only takes three days to destroy it.
So, don't think that you can do business with your past credit or signboard. We should always ask our customers what they need now, and always answer this answer, so that we can generate new credit every day.