target the smallest possible market \I have never met a marketing manager or business proprietor who did not want to reduce marketing costs or increase the return on dollars spent on marketing. With this in mind, I have started the year with 10 THOUGHTS on how to maximise return on investment in marketing. This is […]

target the smallest possible market \I have never met a marketing manager or business proprietor who did not want to reduce marketing costs or increase the return on dollars spent on marketing. With this in mind, I have started the year with 10 THOUGHTS on how to maximise return on investment in marketing. This is the sixth. Venture capitalist, Mark Cuban, once suggested that the three most important rules of business are: (1) target the smallest possible market; (2) demonstrate a strategic competitive advantage; and (3)recognise that the ‘customer owns your arse’. This THOUGHT addresses the first of these rules. Depending on the month, Apple is the largest or second largest corporation in the world. Despite this, Apple’s share of key markets is not as high as many would imagine: Tablet – 27%Smartphone – 16% Further, while Apple will always strive for increases in market share, it recognises the difficulties…