Marketing Research

Marketing research

It’s important to remember that the road to success is always changing. This means that your marketing plan may be revised as your business develops.

Marketing Plan

The marketing plan is a moving target. This is a road that is constantly under construction and will need to change as new information becomes available in your market and industry. This is a plan that will evolve as the industry and audience changes. Be comfortable with tweaking this plan on an ongoing basis.

Marketing research and plan includes:

  • Demographics
  • Psychographics
  • Industry
  • Suppliers
  • Products and Services
  • Competitive Analysis
  • Strategic Analysis
  • Brand
  • Positioning
  • Pricing
  • Media Reach
  • Social media monitoring

Find your niche market

One of the most common mistakes people use is in trying to reach everyone, everywhere. When you attempt to target everyone, your message is often diluted and lost altogether. With every generation, there are crucial characteristics, interests and belief systems formed in the political, and cultural environments they grew up in. People can live in the same area at different points in time and have an altogether different experience growing up. There are so many factors that come into play that can affect your childhood experience. Those factors can be cultural, political, and familial values. This is why it’s important to have an in-depth understanding of the unique differences between various cohorts. Experiences are powerful, and there is a wide range of them depending on what your parents and peers valued.

Website Branding

When creating a brand and a website design, it’s important to consider who you are trying to reach. This is why it’s important to know various profiles of your potential client including demographic and psychographic information. This gives you a birds-eye-view into who they are and what interests them. It also gives you direction in terms of what social media platforms are valued, and how a demographic interacts with those platforms. This information serves as the foundation for every marketing idea, plan and strategy that follows. Creating a plan around where your demographic lives, their interests, their challenges, and hobbies will help you find an effective way to communicate them. Without this information, you are wasting time creating content and strategies that may or may not matter to potential clients/customers.

The mystery of the Millennials

Demographics are powerful! Consider them a subculture of an overall population. Each demographic grew up in a culture in which different parenting styles ruled, and different behaviours were valued. As an example, the Millennials have confused many companies who have lost massive profits making assumptions about what this generation wanted. Car manufacturers continued to create an affordable 'beginner' car for Millennials, only to find out that they don't care to drive. Click To Tweet This is the first time in many generations, that an entire generation could care less about getting their first car. It’s simply not that important to them.

Knowing what your potential consumers want will save you time, money and a lot of frustration in the future.

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