Studying various target-marketing techniques and here is a thought. We have been reviewing companies who cross over into many sectors to identify with their potential customers. We have watched as they attempt to understand their customers buying behavior and how they try to create a desire to purchase. Few companies do this very well, few advertising agencies understand the dynamics of multiple markets. I have seen many advertising agencies squander their client's money. In my company, our team has nominated a few companies for their understanding of their customers, we have only considered those companies who cross ethnic barriers, and market to multiple sectors and customers in many industries. My choice was Rolex and Nike. Others members of our team felt comfortable with were GM, Dell, In and Out Hamburgers, Starbucks, E-Trade, MFS, Coca Cola, FEDEX, Washington Mutual, Mastercard, Wal-Mart (new series of ads), GE and Southwest Airlines.
With consumer spending decreasing in the future due to maxed out credit card limits and the next downward business cycles companies will have to decrease their P and L contributions column for advertising expenditure. Who will emerge the winners of tomorrow's markets? Those with significant standing brand names have the best chances. Who will avoid the drying up of the lake and continue to expand and develop new market niches and open more stores? I believe that the most customer driven companies will emerge as the great strategic planners that they are. In times of tough markets the companies who deserve the winners circle will shine bright and above the crowd. To be able to write great ads and to keep the customers happy, first you must understand the customers wants and needs, then you write the ads to fulfill these desires, then the tough part to deliver on that promise. Creating a new customer in a tough market is tough and it is a necessity. Without the new life-blood you cannot open more units and expand market share.
As other companies close stores rather than getting tough with the market, it shows the observers that they are out of touch with the needs and wants of the customers. Others will consolidate to keep up the numbers to impress shareholders and maintain stock price. This is a time when BS walks. A time when the strong survive, many will fail and pendants will ask: What happen to those business goals? What is being taught in Americas Business Universities? If a company cannot work together as a team in the heat of battle when the going gets tough then they will be defeated by those who can. The customer will choose the best value for them, they will vote with their desires. Advertising is important, but so is the follow-thru, without it all the advertising in the World will not build a customer following. Bringing in a new customer who is under-whelmed will simply turn into a one time purchase and adverse word of mouth.
I salute the winners in the market who understand the desires of the clients and continue to deliver on their promise. I salute the advertising agencies who help these firms by bringing in those customers. It is important to realize that we do not openly give praise easily or often. When we pass a judgment in the market place we do so for the benefit of all.
Those who go the distance and stay the course and Keep on Keeping on, will emerge and do so by carefully advertising to their core target markets without confusing their clientele even when they have branched into additional market segments, while keeping careful tabs on their core businesses. They are the ones who will find themselves respected by the others who got rained on too and made it thru. The innovators, the winners and the strong should be celebrated for they are the ones who refused to give up and to go the distance against all adversity, and against all odds.
"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
Today's competitive marketplace for consulting services is no longer responsive... Read More
When you're all alone in the privacy of your home... Read More
Now that everyone has conformed to Living Your Brand on... Read More
SELLING DIRECTLY FROM A CLASSIFIED AD Classified ads can be... Read More
Your brand is the culmination of everything about you and... Read More
McDonald's buys its potatoes from corporate farmers in Idaho not... Read More
What about me? Are you asking yourself this question? If... Read More
If you could have the secret recipe and all the... Read More
On question I have been asked over and over again... Read More
Your corporate identity is a graphic expression of who you... Read More
Americans have always liked their coffee hot. But then Starbucks... Read More
The seventh in a continuing series of twice-yearly surveys by... Read More
To stand out in a cluttered world, become a recognized... Read More
Branding is one hot topic, although it is wildly misunderstood.... Read More
Do you want to attract new customers while building greater... Read More
Feel that? The crisp tingle in the air? It's fall.... Read More
Have you ever watched one of those home makeover shows?... Read More
One of the critical drivers of business success is having... Read More
Consumers perceive and accept many brands within a certain trade... Read More
There have always been trademark issues and lawsuits in the... Read More
Today, in many organizations around the world, branding is treated... Read More
Building a product into a brand leader is not easy,... Read More
All You Need is Branded Email Or Always Branded Email... Read More
So you've decided to go for it-you're ready to choose... Read More
Studying various target-marketing techniques and here is a thought. We... Read More
A great logo can help a business project a positive... Read More
If you've been online long, you're sure to have seen... Read More
Developing brand strategy is extremely critical. The most important asset... Read More
Branding your comapny should be the first thing a company... Read More
You don't think twice about a business card and letterhead... Read More
One of the ways people get to know you is... Read More
Here's a little story about what not to do as... Read More
As consumers, we don't really think about the importance of... Read More
Marketing potential of any product is based on recognition and... Read More
How is branding different than marketing?Branding is not so much... Read More
When building a business as a brand it's important to... Read More
You'd have to labor to shield yourself from the power... Read More
OK, so you took the plunge and purchased your internet... Read More
Wondering if a trademark is important to you as a... Read More
Do you have any idea how important your company logo... Read More
Successful Realtors know the importance of branding their identities into... Read More
Today, in many organizations around the world, branding is treated... Read More
This week I spent a few hours with a highly... Read More
Businesses eager to open often give little thought to their... Read More
In the book, The Blond Knight of Germany, American authors... Read More
Logo, graphic, icon, logotype, typogram, logoform, image?call it what you... Read More
I've been reminded recently, rather forcefully, that not all reality... Read More
Like it or not it's who you are. Your corporate... Read More
This is not a how-to design a logo. This is... Read More
Have you ever watched 5-year-olds play soccer? It should be... Read More
You've probably heard that people buy products and services from... Read More
Every company has a brand (how people think of them)... Read More
Yes, yes, we've heard it all before... loads of life... Read More
Logos can be described as visual icons that provide a... Read More
In this article i will explain how you can make... Read More
Ask your self this question, In which business are we... Read More
Love him or hate him, one thing is certain: Donald... Read More
"You had me at hello," those famous words from the... Read More
Have you ever thought about branding your name? Does the... Read More
"Just do it." "We try harder." "The Ultimate Driving Machine."... Read More
A great logo can help a business project a positive... Read More
Mascots are the unique dolls or puppets that help identify... Read More
Quite often small business owners will ask me to reveal... Read More
In this highly competitive online marketplace, it can be difficult... Read More
Q: How important is the name of a business? Should... Read More
Having a brand image is not a "have or have... Read More
Branding |