Knowing your people.
People/Prospects/Potential Purchasers/Purchasers (Target
Market) :
“People” is the concept of attracting, engaging and
converting your potential customers or prospects from the beginning of the
process to purchase.
Companies have collected information and data for as long as
I have taught marketing. As a marketing professional, brand manager, client or
marketing manager start by connecting the dots about your potential consumers,
actual consumers and users.
You want to acquire or find prospects and nurture them with
your Marketing variables.
Marketing research has come to the forefront, as
organizations are tapping into customer data and consumer insights not only to
better connect with their “People,” target markets/audiences, but also to
develop the “right,” winning business strategies.
The information on potential and actual buyers or purchasers
starts with accurate, comprehensive data that works across all channels to help
the company identify buyer and audience attributes to target precisely. o
It’s your set of buyers/purchasers, which is named a “target
market;” a set of buyers who share common needs or characteristics that the
company decides to serve. Market targeting can be carried out at several
different levels. o Activate these insights using all the characteristics of
the different segments to all your channels. o A target market is a particular
group of consumers at which a product or service is aimed.
A product or service focusing
on a specific target market contrasts sharply with one following the marketing
strategy of mass marketing. In our analysis and thinking, a target audience
would be a media term; target market is a marketing term.
Another term used is “personas.” These are fictional
characters or potential users which you create based upon your research to
represent the different user types that might use your service, product, site
or brand in a similar way.
Creating personas will help you to understand your users'
needs, experiences, behaviors and goals.
So important…the defining a target market or persona
requires market segmentation; the process of segmenting the entire market as a
whole and separating it into manageable units based on:
▪ 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. Larry Steven Londre Marketing, IMC,
Advertising, Promotion, Media and More. 2024 Edition 4 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. ▪ Look at competing
for the customers and not against your competition.
And don’t forget about your employees implementing this
brand strategy or strategies.
The right Marketing belief or practice is not merely an idea
the mind possesses; it is an idea that should possess the minds of each
individual employee of the company in trying to satisfy the consumer.
Marketers must work in a group dynamic, while having a clear
focus on objectives, strategies, tactics and overall goals of the business.
For more on ideas, concepts and Marketing solutions: Go to LondreMarketing.com and look under “Articles and Resources” and the 9P’s/Nine P’s ©2007. Specifically you will find them detailed at 9P’s/Nine P’s.
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