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Market-focus is an approach to business that bases strategy, operations and measurement on market opportunities. This can be seen as a practical approach that seeks unique and winnable spaces in a competitive market. The following are common examples of a market-focus approach.
Market-focused firms are data-driven entities that seek information about customer needs, preferences and competition.Market fit is an underserved need in a market. This can be a product function that customers want that isn't available. Market fit can also be based on other factors such as price, quality, location and customer experience.
Developing products that have unique value relative to the competition in a market.Selecting precise target markets for marketing efforts.Niche & SegmentsDeveloping products for highly specific needs and preferences to avoid intense competition.
Business ExperimentationTesting things such as prototype products or promotion messages in a continual process of optimization.A flexible approach to marketing that quickly gives up on things that don't seem to work.MeasurementResults-based metrics such as conversation rates.|
| Type | | | Definition | An approach to business that bases strategy, operations and measurement on market opportunities. | | Related Concepts | |
Product Marketing
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