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Developing vertical markets: get more business by proactively seeking out companies similar to your customers.(vertical market development )
- Article from:
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Security Distributing & Marketing
- Article date:
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April 1, 2005
- Author:
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Copyright informationCOPYRIGHT 2005 BNP Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In an industry in which some may wait for the leads to pour in, others are using progressive strategies to develop their businesses. The latest involves sales representatives seeking out customers who will utilize their services.
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This technique, called vertical market development (VMD), begins in one of two ways. You notice a specific industry that is purchasing your product, and then you seek out other businesses in that specific industry. Or you create a need for your product or service within an industry, and then you seek out businesses within that industry to address this need.
Seeking out a customer is a proactive approach that not ...