Michael Richter
International marketing and sales consultant
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International marketing and sales consultant

Tel: +49(0)7582-933371
E-Mail: michael.richter@marketing-und-vertrieb-international.de

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Market share, quality of marketing and the ‚theory of relativity‘ ??

Mr. Einstein's theory of relativity discusses generally different aspects.

Whether comparable measuring values for - national and international - marketing tasks could be developed, shall be examined hereafter

The statements refer essentially to the industrialized markets of Western Europe, can, however, be applied for other world markets too when talking about investment goods of a certain minimum value.

The scope to be looked at comprises the pricing, the product performance, product quality as well as service quality and the quality of marketing. These parameters can be characterized as follows:

  • The price ...
    ... is - at least in developed markets - the first aspect which is decisive for an eventual purchase. At the same time it represents the 'class' in which this product is ranging or into which it shall be established and, insofar, lets the customer at the beginning already draw conclusions with regard to the other factors.

  • The product performance ...
    ... is of specific importance for the buyer - provided he makes a rational price : performance decision and not one only directed by his heart/ feelings.

    A car shall reach a certain speed, a machine a specific output and a consultant shall e. g. find faults or elaborate and implement new/ additional ways.

  • The product quality ...
    ... is not obvious from the very first moment but the total number of cars or machines sold or references from the consultant give a first indication. In addition the guarantees extended by producer/seller show inhowfar he 'trusts' in his own products.

    (Remark: Many foreign producers give better and more comprehensive guarantees than the Europeans.)

  • The service quality ...
    ... is part of the important factors 'to be communicated', talking about investment goods, especially if they are imported or exported. This refers as well to cars and machines or consultants, whereas the latter cannot give a kind of 'normal guarantee' but they have to be available very quickly and must be in the position to find solutions.

    Whether this service is coming from a representative, a cooperation partner or via the INTERNET is of no real importance as long as it fulfills all - product specific - needs perfectly.

  • The quality of marketing ...
    ... finally is crucial for the presentation of the product with the performance needed, the right quality and service arrangements and at an acceptable price, at the right time and the right place, towards the markets/market segments belonging to the target group - thoroughly defined before - of this specific company.

    This remains true, even if only a small marketing budget is available - which is often the case with SMEs - and therefore only a few target groups/market segments can be contacted.

  • These facts are widely known and principally accepted already, ...
... however, it is going to be exciting as soon as these parameters are weighed (which as far as I know has not been studied yet) in order to establish the relative size of a market share.

Then we will see that it is finally the quality of marketing which is going to determine whether the market share expected is/can be reached or not. And such quality of marketing is basically 'not' de pending on the size of a marketing budget but on its shere existence at all.

The achievement as well as the size of a relative market share – per market, market segment, etc. – is consequently totally depending on the quality of marketing. Even if one of the above values is less marked a marketing system suitable for 'this' company and orientated at their possibilities 'must' result in a positive situation/success.

The reasons for that are that (nearly) every product, of (nearly) any quality and of the various ranges of performance has its worldwide clientele. Though this again is only valid if the ratio of the first four parameters is balanced.

A combination of a very high price with either a limited performance, insufficient quality or service will - normally - not be honoured by the clients.

On the contrary a high price combined with a very good performance, perfect quality and service will mostly be accepted - and lead to the market share envisaged - if also the quality of marketing is in order. That means if the client - of the suitable market segment - can be convinced that the solution offered fulfills his specific needs and solves his specific problems best.

Hence from this follows that a 'theory of relativity' is also applicable for marketing as such, as a relative balance between these parameters will result surely in a relatively good market share in the target groups to be reached by the producer.

A precondition, of course, is that the entrepreneur strives for an excellent quality of marketing - in its overall dimension, but orientated at his possibilities and budgets - and targets those groups which he can satisfy best with his specific relative strengths = his very specific advantage or 'fingerprint'.

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written by Michael Richter on 15.03.2007 at 12:20.


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