If you are developing a game app, try to figure out the potential size of your market. You can estimate your market by doing an Internet search and gathering some general statistics on its overall size. But trying to figure out your market segment size is difficult. You’re better off determining who they are. For example, your game market may be young women 13–17 who are followers of the latest movie sensation.
Substantial enough to generate planned sales volume through planned marketing activities One thing is certain: You must have a market large enough to generate sufficient sales. If you develop an app that has a market that can be counted in just a few thousand, you may have a difficult time reaching them. The biggest reason is there is no way to know how many potential buyers in that small market own an iPhone/iPad or an iPod Touch. There must be enough target buyers on a frequent enough basis to sustain your company sales, spending, and profits from month to month.
You should also examine other important factors around targeting that could affect your app’s success:
Strength of competitors to attract your targeted buyers away from your app. How loyal are your customers? Could they be easily persuaded to switch to a competitor based on their marketing efforts (better pricing, better graphics, and so on)?
Similarity of competitive apps in the buyers’ minds. If the customer sees little difference in your app versus a competitors’, you will have a problem.
Rate of new app introductions by competitors. If innovation is the key to success in your market and you are asleep at the wheel, the competition will eventually overtake you.
Perhaps the driving force behind targeted marketing or “segmentation” is the need to satisfy and keep those consumers who really love your apps. Even large iPhone/iPad development companies have embraced targeted marketing, continuing to refine and target their product offerings to different buyer groups.
Marketers of most products know that “20 percent of your buyers consume 80 percent of product volume.” If you could identify the buyers that make up that key 20 percent and focus efforts on finding others like them, you could sell much more product with much less effort. Why? Because you’re not spending your marketing efforts convincing the buyer they need your application your efforts are spent targeting the potential buyers that already need your application. You just need to convince them that you are different (and better) than the competition.
Targeting existing buyers of similar apps is a great way to expand your business because they don’t need to be convinced to purchase your apps. The buyer is already looking for an app like yours. Someone has already done the heavy lifting and made buyers out of them. Apple provides this help for your app automatically within the App Store. In the bottom of your product screen, there is a note that says “CUSTOMERS ALSO BOUGHT...,”
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Note: This article was sent to us by: Kyle P. at 04272010
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