It was after the era of Nokia, Sony-Ericsson and few other phone companies that this one big giant swallowed everyone in the competition. It is very noticeable that almost 2 out of 5 people are using iPhone and these people don’t just buy this phone to use, it is also for showcasing one’s status. What is the marketing mind of Steve Jobs?
“Lucky? No. Only good marketing.” This was said on a TED Talk about business. And that is right. Business runs because somebody needs something and you are doing the job of providing what they need in exchange for a certain amount. Knowing WHO needs WHATi is a very important element in making a business plan.
According to a business insider, “Population does not mean Market.” This is true once we start to consider the preferences, decision-making process, competition, purchasing power, and such factors when we talk about the market. It is also important to note that a business model will only be feasibly firm when it has a certainty about the target market since it is the market that fuels the business. Here is a quick run-through on how to calculate your market share.