Marketing research strategies include discovering consumers "hot
buttons" and the use of surveys, focus groups, and observation. Consumer
"hot buttons" is the process of identifying a target market for a
product or service and finding out if it matches what the consumer wants.
Marketing strategies include targeting advertisements to specific audiences,
placement of goods on certain shelves in the stores, and application of the
SWOT model to determine companies marketing strategies. SWOT model stands for Strengths,
Weaknesses, Opportunities, and Threats.
Strengths in marketing include
location of facilities, unique selling points, large customer base, ability to
meet demand, brand recognition, marketing distribution, etc.
Weaknesses include outdated facility/
equipment, insufficient information, debts or limited financial resources, weak
consumer demand, poor management and marketing, lack of expertise, etc.
Opportunities in the marketing
area are new markets in general, industry or lifestyle threads, technology
developments/innovations, fashion influences, new partners, etc.
Threats are competitors,
restrictive legal regulations, natural disasters, new technologies, shift in
consumer demands, consumer dissatisfaction, slow economy, outsourcing, etc.
The business of advertising is pretty interesting I think. Finding customers “hot buttons” is one of the toughest things to do, I hear. I watched a documentary about advertising where a psychologist turned to advertising because he is very good at discovering what about a product speaks to the “reptilian” brain of the consumer. In other words his expertise is discovery what message he can send that speaks directly to our deepest, subconscious needs. His work tends to involve bringing a company’s product or brand name into a culture where the product or concept is completely foreign to that nation. Thus he tries find ways to transcend culture and speak to the most animal, emotional, and rudimentary parts of the brain to integrate the company’s product.
ReplyDeleteThere are so many different marketing strategies. Anywhere you go there are advertisements on walls, televisions, bus stops, and companies’ walls. Each advertisement has some type of target whether it is kids, men, woman, or parents. Sometimes it is tough to figure out what product fits each group but those are the risks you have to take. For example, SWAT is company that throws huge parties and events. So there strategy is to advertise their service to college students and younger teens. SWAT knows that adults won't go so they target younger teens and young adults. Their company is very successful because they know who to advertise their service to.
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