market

1. http://www.bized.co.uk
Marketing
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2. http://www.bized.co.uk
Marketing
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3. http://www.bized.co.uk
Asset-Led
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4. http://www.bized.co.uk
Asset-Led
• An asset-led business aims to use
the core-competence of a business
in developing new products and
services
• Those assets may be human,
physical or intangible assets
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5. http://www.bized.co.uk
Strengths of the Business
• Physical Assets
– Distribution
– Manufacturing base
– Global reach
• Intangible Assets
– Brand name
– Image
– Personnel
• Core Competence – what the business sees
itself as being ‘good at’
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6. http://www.bized.co.uk
Market-Led
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7. http://www.bized.co.uk
Market-Led
• A market–led business has its
focus purely on the needs of the
customer
• The business is highly responsive
to the needs of consumers – it has
a focus on market research as a
means of identifying those needs
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8. http://www.bized.co.uk
Market-Led
• Basic principles:
– The customer is king!
– Customer service is paramount
– Needs of consumers uppermost in new
product development
– Customer servility – being a ‘slave’ to the
customer
– Do not contemplate the cost of doing
something to meet customer needs,
contemplate the cost of not doing it!
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9. http://www.bized.co.uk
Building Relationships
• Importance of building relationships to meet
customers’ needs and expectations
• Suppliers – good relationship with suppliers
means that goods are available when the
consumer needs them and that the business is
able to respond flexibly to change
• Customers – knowing who your customers are,
what their needs are and how the market is
changing
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