“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself,” said Peter F. Drucker. Peter was an educator and author in the 1900s who wrote books on management and entrepreneurship. He is saying that if you target the right market, the product will “fit” and “sell itself.” Market targeting is like fitting clothes. If the clothes fit perfectly, it will be more comfortable and desired more by the customer.
Alexandre Baumeige, the CEO of Spinteractive, spoke at the LAB about finding his company’s market. Spinteractive is a company that develops AR (Augmented Reality), VR (Virtual Reality), and MR (Mixed Reality) experiences for other businesses to help them interact with customers. He sought to target real estate agents whom he thought would benefit from the implementation of VR. With the use of VR, the agent could show clients many different properties before visiting them to narrow down the choices without wasting too much time. Alexandre said that he is focusing on the real estate market because that already work with 3-D content. He also said he would concentrate on new developments rather than existing ones because the content is already coming out.
All of the most successful companies in the world are successful because they can grab the attention and desire of almost everyone. Bill Gates did not become the richest person in the world just because his product is good. He became successful because of how useful and desired Microsoft is. Almost every company and person uses Microsoft in some way, whether it be Windows computers, Microsoft Office, or even the Xbox. Microsoft can appeal to everyone and is used for almost every purpose. Being able to appeal to the right group of people is hard to do and if done, can make a successful business.