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Homework answers / question archive / Deliverable Length: 3–5 pages (not including cover page and resource page) Assignment Details Not everyone is going to be interested in your product, service, or idea
Deliverable Length: 3–5 pages (not including cover page and resource page)
Assignment Details
Not everyone is going to be interested in your product, service, or idea. Rarely does a brand appeal to every potential customer. Most companies do not want to waste budgets on advertising to disinterested customers. To interest your target audiences, you must match the opportunities with their preferences.
Various tools are used by marketers for successful advertising and publicizing their wares in the marketplace. The marketing formula of segmentation, targeting, positioning, and differentiation (STP / D) helps the marketer create a strategy that groups customers based on their likes or preferences and targets customers with specific advertising and public relations messages.
Customer Segmentation and Interests
Segmentation allows marketers to group or segment customers based on similar variables. To segment customer groups, the marketer finds commonalities in the demographic and psychographic information, along with likes and product preferences.
Calling out segmentation and targeting helps marketers pinpoint specific customers or audiences. Demographics and psychographics are two key elements of marketing that are essential in finding the right customers and matching them to your products and services.
Key Concept Snapshot: Demographics is data generated about your customer’s age, gender, education, and income—or the statistical or numeric data about your customer groups. Psychographics studies the lifestyle preferences of customers such as their hobbies, likes, and dislikes. Psychographics also studies an individual’s behaviors, attitudes, and lifestyles (e.g., hobbies, interests, or types of preferred foods).
This customer data and information helps marketers divide customers into three groups, as follows:
All are designed to expand customer reach. To prepare for this assignment, do the following:
GoGirlGifts.com's primary customer profile is as follows:
The first thing that you might notice is that the Web site is aimed more at females who want to buy stuff. However, with so many items, the secondary audience could be males and others not in the specific demographic age range. View one of the following Web sites that are aimed at this customer profile:
Add the following main ideas in your 3–5-page assignment: