The next step to building a powerful brand is self-evaluation. We have determined the customers, but who is the company? Every company has an internal culture, the way it conducts business and views itself. Understanding who you are is the first step in communicating with others. [Read more...]
Nov
29
Differentiation
Having segmented the market with the aid of psychographics, we have a truly differentiated product offering. But what if this is not enough? If a product stays in the market long enough, imitators are sure to follow. Here are three ways to continue differentiating your product from the competition: [Read more...]
Nov
28
Segmentation
Everyone in marketing talks about segmentation, I just wanted to join the club. However, I think of segmentation very differently than most people. You create segments in the market by identifying demographics (age, sex, race) and geographic norms (population density) and how they relate to one another. This gives you a good idea about how and how not to market to your customer. Trying to advertise a $900 video game system in a low-income area of town would not be very successful. [Read more...]
Nov
27
The Perfect Customer
It is difficult to envision a “perfect” customer. Are they the one who spends more than 10% of their annual income on your products? The person who frequents your store without hearing a single word of advertising? Is it the person who buys little but visits every day? The perfect customer could be any or all of these things, depending on your product and your business. A broad definition of the perfect customer is an un-hired advertising force – the man or woman who encourages friends, family, and strangers to patronize your brand without any compensation for their efforts. [Read more...]
Nov
26
Open for Business
Everything has a purpose. Cars were invented to replace horses as a more convenient and, arguably, cheaper means of transportation. Sports drinks are efficient ways to hydrate athletes than water alone. This blog exists to further my establishment within the marketing community. Everything has a purpose, a reason for being – this extends to companies. [Read more...]
Nov
23
Upcoming Project
Happy Thanksgiving everyone! I hope you all had the opportunity to overdose on turkey and reconnect with loved ones over the holiday.
Starting on Monday, I will be working on a 31 days of blogging project. I will endeavor to update this space every day for a month. There are a few others also involved in the project, and I will be linking to their sites soon. The remainder of the weekend will be dedicated to polishing the page layout and contemplating a list of post ideas. If you have anything you’re dying to hear my comments on, shoot over an email and I’ll add you to the list.
