Which market to create?
Creation of an idea does not end there. The idea still needs to be distributed, sowed among potential buyers. Moreover, it is desirable to spread the idea so that it is sufficiently entrenched in the minds of consumers. One option for this is to organize an infrastructure for self-affirmation. This is what Mazda did by organizing the 2008 Zoom-Zoom Challenge Tournament for fans.
After 3 years, the number of carriers of the above ideas, and hence the number of potential participants reached 15,000 people. This is a very good number. Through this tournament, these ideas began to be introduced into people and turn them into consumers of the corresponding Mazda cars. Sales of these cars also went along with this, because the main condition for participation is the fact of having a Mazda car.
The fact that the tournament is held regularly leads to the fact that the idea remains constantly active, which means that sales remain active. Moreover, as in any other tournament in this tournament there is a reward. The participant who has achieved the greatest success on a local scale falls into the most important place for the implementation of the idea embedded in him. Such a place is the Spa Francocham track in Belgium, where people gather who have the strongest desire to assert themselves on the road.
… targeted marketing strategy is an effective tool …
So, Mazda applied the classic target marketing strategy: a separate marketing program, a separate market segment, a separate product, a separate communication system. This allowed her to ultimately succeed and develop it. Mazda decided to compete not only in a common market for everyone, but also to create a market for itself. She decided to get her own market in which she would have no competitors.
She succeeded, she now has at least 15,000 of her own consumers, over which she has a monopoly. Monopoly position allows her to dictate her conditions. She can put in principle any prices for cars, and they will be sold. Thus, in this market, Mazda will be able to make good money in order to cover the losses that it receives in other markets.
It becomes apparent that targeted marketing strategy is an effective tool. Companies that use it get serious competitive advantages. This strategy is boldly striding around the planet and gaining more and more new frontiers. The speed with which this strategy spreads allows us to argue that companies that work on other strategies or do not have long to live without them.
We are talking about a period of time lasting 5-10 years, not more. All companies that cannot be reorganized during this time to use this strategy will be on the verge of departure. Of course, due to inertia, they may not immediately fly out, but their market position will deteriorate significantly and will continue to deteriorate. The final outcome for all the stragglers will be one – bankruptcy. In order to avoid bankruptcy, you need high-quality market analytics and your own marketing strategy.