Market Engagement

Market Engagement Definition

In order to better understand market engagement, it is important to first understand what a market is. A market can be defined as “a set of all actual and potential buyers of a product or service”.1 Essentially, it is the group of people to whom a company sells its products or services. It is important to note that markets are not static; they are constantly changing and evolving based on a variety of factors such as new technologies, changes in consumer tastes, etc.

Now that we have a basic understanding of what a market is, we can move on to defining market engagement. Market engagement can be defined as “the process of interacting with the market in order to gain insights that can be used to inform marketing decisions”.2 In other words, it is the process of collecting information about the market in order to better understand how best to serve them.

There are a number of different ways that companies can go about engaging with their markets. Some common methods include conducting surveys, focus groups, interviews, and observation.3 By using these techniques, companies can gather valuable information about their target markets such as needs, wants, preferences, etc. This information can then be used to make more informed marketing decisions that are better aligned with what the target market desires.

Overall, market engagement is a critical part of any successful marketing strategy. By taking the time to engage with their markets and collect relevant information, companies can ensure that their marketing