Segmenting and targeting markets helps a company enlarge customer base by giving information with which to adjust successfully some components of the product’s price and value and the approach to deliver it (Westwood, 2011).The goal of Solar Communications is to figure out which people and organisations are interested in the mobile money transfer service. To do this, the company needs to divide the people and organizations into several groups of potential buyers with similar characteristics. Market segmentation is the name of the above-described process. Meanwhile, the company should consider whether the service is attractive or not for the target customers.
Finding new clients, starting to know them, and finding out what they desire could be a complicated process, which is fraught with trial and error (Parley, 2000). As a company, Solar Communication should get to know, form close relationships, and focus selling efforts on current customers first. In addition to studying their consumption patterns, Solar should also try to get a better understanding of its clients by surveying them or hiring marketing research firms to do so. This can be done by utilizing loyalty programs and maintaining a good customer relationship management (CRM) system. Social media including Twitter, Facebook, radios and televisions, is another way that Solar Communications Company can use to keep communicating with their customers and boosting their revenues (Westwood, 2011). Moreover, Solar Communications should use the internet to track people 's web browsing patterns and segment them into target groups. This is a cost-effective method because Solar Company does not need other software and pro...
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...can delight customers by giving something extra to gain a competitive advantage over the rest of the other companies (Bradford, Erickson & McDonald, 2012).The Delighters are solutions to issues customers would like to be solved. By doing so, the company will end up knocking their socks off (Baker, 2000).
Solar Communications intends to invest 8.7% of the company 's annual income for the upcoming new service. Achievement of sufficient markets and shares from ShoreTel Company will aid in achieving the financial and marketing goals of Solar. In the next five years, the new service 's market is expected to catch up and grow, and costs are supposed to increase with experience growing familiarity to consumers. The greatest challenge though will be tracking the market 's current needs and regular maintenance to put up with the increasing technological levels
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