Ask anyone – What is marketing? And you’ll get answers like advertising, social media or mobile marketing. Others, who have taken a formal marketing class, will say 4 P’s (Product, Price, Place, Promotion). This is surprising and at the root of any marketing effort that fails or provides a less than hoped results. And as anyone who has tried to market anything has learnt – marketing results tend to disappoint. Unless, the marketer is razor focussed on the customer and their perceived value.
Category Archives: Market Segmentation
How work-life will change after coronavirus
With the experience of coronavirus COVID 19 lockdowns work-life will change forever. . With 91% US kids at home parents are spending more time than ever with children. Some parents have jobs that allow digital work and these folks are so lucky. Then there are the struggling 25 million unemployed in the travel, tourism, retail and any type of jobs that require a physical presence. At the other end of essential workers are the beleaguered medical worker, true heros, who show up every day to work. No less valiant are factory workers, grocery retail workers, law enforcement folks who are keeping essential services working. For everyone in each of these situations the pandemic has been trying as the USA tries to reopen. Going forward here is how work life will change:
Why Dollar Stores are doing pretty well in a digital world
Next time you pass a Dollar Store in the US (including Dollar Tree and Dollar General) observe the parking lot. In towns rich and not so rich you’ll find that the parking lot is full most of the time.If you have not gone into a Dollar Store recently – do so and then compare the merchandise to Walmart. For a dollar the quality is not bad.
Dollar Stores took off after the 2008 recession and there are more Dollar Stores than McDonald’s in the USA. Between Dollar Tree and Dollar General there are 30,000 stores and these are very densely seen in the mid-west and the farmlands of middle America. A recent article “Sign of hope or worry- when the dollar store comes to town” describes the mixed bag that these stores are for local communities.
Market Segmentation and Targeting: Why Trump did not go to California in 2016
Market segmentation and targeting is probably the hardest concept in marketing. Strangely once understood even the savviest marketers seem to flip-flop in their marketing execution. For those dear readers who followed the 2016 US Presidential election the map below (Source : Philip Bump, Washington Post,Donald Trump spent more time in the states that handed himContinue reading “Market Segmentation and Targeting: Why Trump did not go to California in 2016”
If they haven’t Googled about the problem you solve …
You are making sales calls and some customers are unresponsive even after initial conversations. It is quite possible that these people do not have the problem that your business solves. They haven’t yet Googled about the problem you solve! For people are looking for solutions to their problems and all businesses exist to solve customerContinue reading “If they haven’t Googled about the problem you solve …”
Accept that everyone will NOT like your brand
It’s hard for mothers to accept that “everyone” will not like their child. And here is a clip from Seinfeld to explain your mom’s position. Surprisingly, numerous businesses and marketers seem to think like Seinfeld’s mother when it comes to understanding and accepting “market segmentation”. That everyone will or must like your brand. It isContinue reading “Accept that everyone will NOT like your brand”
Pokemon Go for location based marketing with millenials
It’s summer and you see lots of young folks (millennials) busy on their cell phones as they vigorously and purposefully seem to be rushing to a destination. Where are they going? you would tend to ask yourself, if you are not familiar Pokemon Go.For a quick overview watch the NBC video on this post. TheContinue reading “Pokemon Go for location based marketing with millenials”
7 Questions for your Business Model
“A business model is the manner in which you provide value to your customer that is paid for (by whom – is considered in the questions below). You cover your costs and make a profit on a sustainable basis.”
If you are a small business, you rarely think of your business as having a business model. But it does. It does because the moment you have a single paying customer, she is paying for the value you create. It is another matter, if your business makes a profit consistently over the long term. Sustainable profit is why it is important to understand the business model concept.Here is a definition based on the highly cited article by David Teece.
The disconnect between your web content and what your customers really value
“Value” is central to marketing. And different segments of your customers value different features of your product or service. Unless they saw the value in what you offer, they would not be buying from you. At all. So right off the start of this post , let us assure our dear readers that you doContinue reading “The disconnect between your web content and what your customers really value”
Who is your customer?… and what does she value most
You have a great product and you have some great customers – and you want to expand your market ( don’t we all want that ?). You try various things including print and digital ads, cold calling, trade shows, sales pitches etc. but seem to be stuck in a rut. Talking to many businesses particularlyContinue reading “Who is your customer?… and what does she value most”