Theories

Any business studies text book will tell you that it is important to identify your market. Initially this process is done through market research. Given the fairly closed nature of the ballooning market, and the fact that many of the staff are balloonists themselves this process is not such an important one. The next stage then is to segment your market. The firm also needs to carefully consider the marketing mix and the nature of the product.

For more detail on each of these bits of theory use the links below:

T 1. Market segmentation

T 2. The marketing mix

T 3. Product life cycle