Choosing and Prioritizing Markets
The steps SMMs should use to choose and prioritize markets are similar to the process presented in Chapter 3 for prioritizing customers. BuzzCo and Forashe reviewed various markets and industries and after estimating their attractiveness (growth projections, trends, number of potential customers, and estimates of sales potential) narrowed down the possibilities to a few market segments they concluded represented the best opportunities for growth.
BuzzCo reviewed 10 major SIC industries its customers represented and chose to target companies in SIC 3400, 3600, and 3700 based on the margins it had generated with its A customers. It further broke down those three industries to six segments 3494, 3621, 3675, 3644, ...
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