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MARKET PROJECTION

Sandra Herrera Zapata

Octubre 2020.

Servicio Nacional de Aprendizaje -SENA.

Centro de Formación Cenigraf
Tecnología en Negociación Internacional
Ficha 2104838
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Market Share
Projection

A market forecast is a core component of a market

analysis. It projects the future numbers,
characteristics, and trends in your target market. ...
This example of a simple market forecast defines two
target market segments and projects the potential
customers in each of those segments by years, for five
years

Market Size Current and Current Market

Potential Business Share

The fundamental
Determining current
principie to determining It’s a question of
market share simply
market size is to understanding how much
involves dividing current
calculate the potential customers could actually
business by total market
consumption within the purchase within a given
size.
market. year.
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8 steps for the success of a marketing plan.

The combination of these 8 steps can ensure your marketing success. Explore – Many
marketing plans over years have become successful because they explored a variety of
ideas and plans, not only in their own sector but also in other industries. In short, the more
ideas you have in the start, the better it is for your marketing plan and more is the chance of
success. You need to explore the current trends of the industry, the future
expectations, government involvement, major changes, technological advancement etc. The
best marketer is one who plans not only for the present but also for the future.

Thus you need to first explore your surroundings to be sure of the background of the
marketing plan. Analyse your customers – The 2nd step is elementary. I mention the
importance of customer analysis in a previous post. I do emphasize that your customers are
your best consultants. Instead of asking questions to others, ask questions to your own
customers and you will get the best answers and the best advice possible. In fact, NOT
listening to your customers is a sure shot way to achieve Marketing failure. At the same
time you need to know which features amongst those advertised by competitors are the
most prominent in customers mind. If you are the number 1, you need to think of retention
strategies, whereas if you are number 4, you need to think of customer acquisition
strategies.

Thus the outlook of the marketing plan changes as you analyse yourself. Prepare your
marketing plan – Now is the stage where you need to use your data and formulate a
strategy. However just deciding on a strategy is not enough. You need to scale down the
entire marketing plan and the best step over here is to hire a marketing consultant / ad
agency as required. At this stage, you decide your long term as well as short term
strategy. Based on the strategy you need to decide what kind of promotions you will be
using and also what impact is the promotion expected to make in the market. Marketing
plans are made months in advance. Bottom line – Document your marketing plan.

Contingency plans are used when your strategy is not well received in the market. The top
brands always have a contingency plan prepared. By doing this you are ensuring a smooth
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flow of the marketing plan. Follow up – You have now implemented the marketing plan.
Once you have the customer feedback, you can improvise in your future plan. The result –
Big bazaar repeats it again and again and satisfies its customers each time. On the contrary
the more varied you keep it, the better is the response from customers. This is where
telecom brands are really utilizing their marketing brains.

Because of saturation, each of the telecom brand is trying to bring up a new USP which it
can use in its marketing campaign. These 8 steps make sure you are covering each and
every aspect of your marketing plan and ensures marketing success. It doesn’t need to study
its competitors, rather it needs to concentrate more on its core strength.