This video goes over STP, but with a little more in-depth as to how you would segment, especially outlining 4 common ways to segment markets. It also goes over targeting, as far as how fitting the segment would be and the benefits of targeting. Another topic of targeting is the range of different targeting styles. It goes over different ways to position as well- but it does say that you don’t need to go for all the different positioning methods. It also hammers the importance of making a good marketing plan. “If you fail to plan, you plan to fail” says the video.
I find this to be interesting as it does go a little bit more in-depth than the class while still not being overwhelming. It was interesting to note that there are so many different targeting methods. While it doesn’t explain these methods in detail, I can get a better grasp of how marketers need to do a lot of research before they start doing anything at all.
This article goes over a bit of history of target marketing. It explains how target marketing didn’t exist in its current form at all around 60 years ago. Instead, there were small businesses that knew their customers or ads in newspapers. Companies didn’t look at demographics- they simply marketed their products towards men or towards women and didn’t need to worry about whether or not men who enjoyed a certain sport were more likely to buy the product or if more single than married women purchased something. Eventually, businesses noticed that different age groups were attracted to different products, thus giving way to more demographically-based marketing strategies.
Now, businesses have far more ways to gather research about prospective consumers and platforms for advertising. I find it interesting to see a more historical perspective on target marketing, because it shows how far the concept of marketing has come. Also, it gives a sense of wonder over what the future holds. Where will marketing go from here? We can only guess.
This video goes over how to position a less-than-stellar product. Instead of stretching the truth- which can get you in trouble- or settling for less customers, a marketing team can go for a more humorous approach. In a time when videos can go viral, social media is booming, and consumers are growing impatient with advertising, it is important to grab the attention of the viewer and make them talk about the ad. Why? Because that builds recognition. When people see a hilarious ad, they remember it. They then remember the product. They tell their friends, and then the viewer and their friends try out the product. But if you can’t get the viewer to actually pay attention to your ad, they won’t catch on to your sales pitch. In other words, they won’t see the point in buying the product or service. This is why a lot of commercials on TV are getting surreal or otherwise funny- so you remember the Old Spice commercial, the McDonalds Filet-O-Fish singing fish, or the catchy opera song for JG Wentworth. Another example? Ask around and see who all remembers the Shorewest commercial where the guy bought a yodeling record and sang along with it, or even the Clapper. Even old commercials can stick in one’s memory for years on end.