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ABC Analysis applied to marketing!

Date: 06/01/2006 | Category: Business | Author: arvind

We have heard enough about employing ABC analysis for inventory control. For example, A type inventory needs most attention, that being critical to production, whatsoever its quantum of need may be. 

Similar concept can be applied. Now there is no argument that businesses run on contacts. Let’s apply ABC analysis on small business marketing. Each of us has solid, not so solid and not at all solid contacts. Why not using them for our business interests. Let’s say A type are those who are our customers and are fully aware of our products. Lot of ink has been used in writing and print on strategies for this group of people. Let’s now consider B type of people. B category people are those who ‘just’ know about your products and business, but not enough to motivate them to make purchase. Why not concentrating on this group of people through enhanced level of socializing? This is most likely going to reward any small business owner in the form of new business.

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