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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: Leverage your company’s background – Is
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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
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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
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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.
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Axe is a very popular brand of men’s deodorant and shower products owned by Unilever. I guarantee that you have seen their television advertisements at some point in time. I choose to look at Axe because I think their marketing, however controversial, is absolutely genius. Picture two men in a bar. Man A is tall,
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“How well is your Internet working?” This is a question I often ask my colleagues. Many of them have both personal and professional websites. Several have blogs. Others have accounts on Myspace. Until I get into the meat of the question, they all assume their web presence is fairly well-defined. “If my clients can find
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A lot of people have been looking at my new business card and have been asking what a “perfect customer” is. I figured I should take a moment to explain exactly what I mean and what the tag-line of my card and website, “Who is your perfect customer?” actually means. In marketing, a lot of
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I read an old Harvard Business Review article about “Blue Ocean Strategy” the other day (Blue Ocean Strategy. (2004). Kim, W. C. and Mauborgne, R. Harvard Business Review (October), 77-84.). The article was rather well written, and I have found it very useful in evaluating business opportunities. Saturated markets with intense competition, according to the