These days, who doesn’t want to properly build out their market. But, here’s the catch. Building out your VMs takes time, money and patience.
Understanding Vertical Markets means seeing the benefit from the target client’s point of view. In other words, can you see beyond your own bottom line?
One benefit of identifying Vertical Markets is that it forces you to see beyond your own product offerings. It also forces you to understand the strengths and weaknesses of your own company and its products.
If done correctly, building out your Vertical Markets can dramatically increase your product line. Do not make the mistake of thinking that the identification of a Vertical Market will substitute Business Intelligence. Building out Vertical Markets is a tool that is used to deploy one particular strategy.
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