BUSINESS STRATEGIES

Business Strategies

Business Strategies

Responding To Uncertainty

Prospecting Strategy

Prospecting is a set of techniques to make contact with a prospect in order to provide goods or services marketed by the company with the aim of transforming it into a customer. Prospecting should be integrated as an ongoing process within the company. Indeed, because a prospect is not always in the process of purchase, must be an organized and systematic return to him in order to maintain a high level of attention to the products and services offered by your company.

To win new customers and grow its sales - prospecting are a necessity for daily life and the sustainability of the company. The aim of the survey is to strengthen existing business and to secure the future of the company. Indeed, competition, loss of natural clients, the decline in activity, changes in market, etc. are phenomena that directly influence the level of activity and can have serious consequences for the company. Thus, the company must consider keeping these risks erosion of its portfolio through the establishment of a prospecting strategy. In addition, prospecting is also involved in referencing our products and services in the minds of consumers or potential customers. Prospect, so it developed the reputation of his company (Amburgey& Dacin, 1994).

Prospecting Tools

Prospecting should be a structured approach. To prospect, it requires both monitoring tools and management of prospects and non-computer-but also commercial tools to present your company and its activities, and facilitate the relationship with your prospects. Among the commercial tools:

Direct Marketing

The event

Press relations

Advertising

All of these tools (but also others) are all investment for a company, whatever its size. As with all pieces on a chessboard, it is prudent to use them with strategy.

Differentiating Strategy

Differentiation strategies should be considered for entry into a market already occupied by competitors or when a market is maturing with a large number of competitors selling virtually the same products to the same target and about the same way. The company must develop a competitive advantage and address specific categories of customers to differentiate themselves from competitors.

It can also develop innovative concepts that will provide him a better return. The differentiation strategy is to create for the product or service something that is perceived throughout the industry as unique. The differentiation strategy should be followed only after careful study of the needs and preferences of buyers, in order to determine the feasibility of incorporating a different characteristic or several at a unique product that includes the desired attributes (Armour & Teece, 1978).

A risk taken to pursue a strategy of differentiation is that customers might not value the product unique enough to justify its high price. When this happens, a cost leadership strategy easily outperforms a strategy of differentiation. Another risk of using a differentiation strategy is that competitors could develop ways to copy quickly differentiating characteristics, thus; companies must find sustainable sources of exclusivity that rival firms cannot imitate quickly or at lower ...