My fifteen year old daughter asked me yesterday, “Dad, can we trade in Tara for a new puppy? We can sell her on eBay.” Tara is our eight year-old, slightly annoying, yellow lab. I was aghast at the suggestion. How could my daughter even consider trading in the old dog for a new puppy? Welcome…
A study by Yahoo! and Starcom/Mediavest Group offers some interesting insights about women and how they interact with the web. The survey interviewed 1199 women about how they use the Internet. Here are a few of the findings: • The Internet is the preferred media among women and is the 4th most time intensive activity…
Some people will tell you that niche marketing can be like jungle warfare and that you must conduct battle like a “guerrilla soldier.” You may have heard the term “guerrilla marketing” used by others. Admittedly, this is a powerful image but I believe that this paramilitary characterization puts the focus on the wrong parties: you…
The market place may seem large, but it is really made up of many smaller markets with customers who share similar preferences or needs. These smaller markets are called market segments. Your target market is the market segment that you choose to serve. Yet, to truly serve your target market, you need to be able…
Chris Anderson’s business bestseller, The Long Tail, is widely quoted and the term “long tail marketing” is now as ubiquitous as sustainable competitive advantage, value proposition, and the other business clichés. With this cliché status, the term gets abused and misused. What Anderson meant is that there is a new economy that provides an economic…
Simply put, a market is a group of buyers that are willing and able to buy your product or solution. A market is made up sub-markets or “market segments”; market segments are groups of potential buyers who have similar wants, needs, experiences, or problems. In fact, a wise man once said, “There is no market;…
Positioning is what the customer believes about your product’s value, features, and benefits; it is a comparison to the other available alternatives offered by the competition. These beliefs tend to based on customer experiences and evidence, rather than awareness created advertising or promotion.
A wise man once said, “There is no market; there are only market segments”.