The data also suggests is that shoppers or "People," under the 9P's are purchasing for specific occasions in mind.
I'm looking at the different characteristics under "People," and summer weddings, destination weddings, bridal showers, bridal retreats, vacations and graduations. Those are driving demand.
Under People look at:
- Demographics. Demographic marketing segmentation is looking at the potential or actual buyer’s age, family size, race, occupation, generation, religion, gender, family lifecycle, ethnicity, nationality, income, education, social class. The demographics may be segmented into several markets to help an organization target its consumers more effectively.
- Geographic segmentation could be nation, country, region, city, density, climate.
- Psychographics is the science of dividing into groups on psychological/personality traits, lifestyle or values. People in the same demographic groups may be very different in their psychological profiles.
- Behavioral segmentation, marketers divide buyers into groups based on knowledge of, attitude, use of or response to a product or service. User status could include occasions, nonusers, ex-users, readiness to buy and loyalty status. Could be enthusiast, traditionalist or overwhelmed just to name three.
- Technographics or technographical characteristics. Understanding your potential consumer. Remember, in the back of your mind, that the reason technology is phenomenal is because it displaces years, or centuries, of previous technology. Consumers may or may not have the skills. Think employees here too. The reason technology skills are transitory is because they will almost certainly be displaced, too.
As a luxury marketer, with all of this data, look at competing for the customers and not against your competition. Let's look at data and targeting, in another way. Or a strategic way of looking for potential customers or "People," under the 9P's of Marketing.
There are many ways to help you determine a target market.
• Who bought or has the potential to buy, but you may want to break that down into significant segments?
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I like Marketing. I like Promotion, one of my nine P's of Marketing
I like advertising, which is one of the eight components under Promotion in my 9P's of Marketing.
I like copy and selling points. I like finding Marketing opportunities and solving Marketing problems using the nine P's of Marketing. I like teaching them.
I use my 9P's to illustrate Marketing examples in the classroom, in court as an expert witness, in seminars and to solve Marketing problems and to find opportunities.
My 9P's of Marketing do include these important concepts, practices and components:
I am using the 9P's with Planning, People, Product, Price, Promotion, Place, Partners, Presentation and Passion to illustrate an unusual insight or example. To find opportunities and problems in Marketing.
- Planning and Research.
- Finding copy points is part of the creative and promotional planning.
- Planning for marketing activities, objectives, strategies and tactics. Viewership, revenue, sales. All sales, whether in services, fashion, sports, amusement parks, hotels, resorts, autos, fast food, retail sales or tires, refreshments or cereal, as three examples.
- From the founder of Intuit, Scott Cook, said: " A brand is no longer what we tell the consumer it is -- (maybe from Marketing Research never was is my comment) it is what consumers (“People” in the 9P’s) tell each other it is.
- People (Segmentation and Targeting)
- Consumers and users, as in shoppers. Fashion consumers. Add travelers.
- In my 9P's, I stress that firms need to look and analyze potential, new, existing and repeat customers and users.
- Product and Services, includes airports, sports teams, people and celebrities too. I teach that perfection resides in quality, not quantity.
- Place (Distribution), includes retail and online. How about locations of airports, team stadiums, amusement parks and resorts?
- Price or Pricing, many contingency plans needed.
- Promotion:
- There are eight (8) major, strategic components or communication elements which are personal and non-personal communication activities.
- The activities that communicate the merits of the overall product include:
- Personal Selling/ Sales Force: Sales persons
- Listen more than you talk. People who listen more, learn more, plus helps you position your service/product/solution or offering.
- Advertising:
Like Super Bowl advertising in February for Super Bowl. Think about this expression "It is only creative if the product or service sells." I wanted to add "It is only good media spending if it sells."- Sales Promotion, advertising mascots can fit here, too. Signage would fit here.
- Collateral Materials
- Direct Marketing (also referred to as Action or Direct Response Advertising)
- Interactive/Internet/Web, Digital Media, Social Media:
- Events and Experiences, sampling
- Public Relations/PR
- One stop shopping is more important than ever.
- Partners/Alliances, can be one of the most powerful of the 9P's if researched, performed and handled well.
- There should be moving forward towards shared goals or goals.
- Presentation:
- The act or acts of strategically presenting any of the different 9P’s© and/or components to your customers, suppliers, wholesalers, retailers, sales force, marketing intermediaries, clients, employees, partners, and/or others.
Presentation aspects may be signs, symbols or images that represent something; a descriptive or persuasive account (as a sales person of the product or service). Something set forth for the attention of mind of your targets ("People") and media audiences. I've added "culture," too. I'm adding "culture," too.
- Passion, including consumers and employees. Think about the lines sometimes of consumers waiting for a new Apple product
Johann Wolfgang von Goethe said “ To put your ideas into action is the most difficult thing in the world." But Nike says "Just do it."
I am an experienced, senior Forensic Marketing Expert, Advertising expert, Advertising/ Marketing consultant with Londre Marketing Consultants, LLC.
I created the 9P's. I own a copyright for these Nine P’s/9 P's of Marketing©2007 concepts and Marketing practices, which augment the 1960's Marketing Mix (Product, Price, Promotion and Place) or the 4P’s by the American Marketing Association (AMA), Neil Borden and Jerome McCarthy in the study and practice of Marketing. It's sixty years later and we are in the digital age. Now.
The Nine P's/9P's of Marketing help identify marketing problems in a number of strategic areas and help develop profitable marketing’s objectives, strategies, tactics and solutions. The 9P's are insightful. The nine P's were created for the digital age.
Or for more fun, marketing strategies/tactics and facts: Go to Marketing Trivia with more than 75+ stimulating questions and answers at Londre Marketing Consultants, LLC.
• Which products and services do they buy?
• Pricing/Price?
• When (date/time)?
• Where (channel, store location or device)?
• Payment method?