![\"coach-wallet11\"](\"https:\/\/imagemme.com\/newsite\/wp-content\/uploads\/2016\/11\/coach-wallet11.jpg\")
<\/p>\nIt\u2019s marketing 101, define your target market, create a value proposition that appeals to them, satiate a deep need, and consumers will come.<\/p>\n
Interestingly enough, marketers are often so broad with their targets that they are not effectively tapping into some very important consumer groups.\u00a0 A recent study commissioned by Creston Unlimited demonstrated that, of all cohorts, young single women in lower income brackets and women who are single parents demonstrate the most brand loyalty and gain the most enrichment from brands.<\/p>\n
The reason?\u00a0 While age, sex, marital status, and children all play strong roles, these women felt a sense of status and belonging by buying into branded products.<\/p>\n
Higher earning men and women felt brands had less of an impact on their lives.<\/p>\n
So what\u2019s the lesson here?\u00a0 When it comes to targeting via demographics and psychographics, we\u2019ve got it all wrong!\u00a0 Many brands are failing to stimulate the minds and wallets of our most affluent consumers, and all too often (though they feel attachment to these brands) we are failing to represent or appropriately communicate with brand loyalists.\u00a0\u00a0 Are our target markets too broad?\u00a0 Or not broad enough?\u00a0 In our attempts to target everyone, are we targeting no one?<\/p>\n
Is it possible for one brand to target aspirational consumers without alienating more affluent ones at the same time?\u00a0 We think yes!\u00a0 Look at American new Luxury brand, Coach, for example.\u00a0 Their bifurcated strategy has created a paradigm in the luxury market.\u00a0 Their brand offers entry price points for \u201creach\u201d consumers starting at $28, but then concept stores have one-off bags priced at thousands of dollars.\u00a0 It\u2019s the same brand, but there are several lines that cater to different wants and needs.\u00a0 Higher income areas are privy to special edition products, while other stores cater to the average consumer looking for a moderately priced handbag that affords a piece of luxury and status.<\/p>\n
<\/p>\n
The key here is not only to have several product lines, but to also have several vehicles for communication that target specific consumers for buying into the brand, whether it be loyalty, or individuality.<\/p>\n
Targeted communication is becoming easier and easier as many consumers move to the web.\u00a0 Many ecommerce sites, such as bloomingdales.com, have created algorithms that track your purchases, define, within a range, how you like to shop, and send targeted communication to consumers.\u00a0 So, although your neighbor might shop at bloomies too, she is getting a very different email to you. \u00a0It is simple to become a brand that can cater for everyone, even if it stands for very specific values.<\/p>\n
![\"bloomingdales-newsletter11\"](\"https:\/\/imagemme.com\/newsite\/wp-content\/uploads\/2016\/11\/bloomingdales-newsletter11.jpg\")
<\/p>\n
Gone are the days of target markets being defined as \u201cwomen ages 18-65.\u201d\u00a0 Marketers need to get very specific and ensure that every piece of their strategy is in alignment with these cohorts.\u00a0 Consumers need to feel like brands are speaking to them on a very personal level and understand their particular reasons for buying into the brand.\u00a0 This isn\u2019t an issue of too broad a target, it\u2019s an issue of one-size-fits-all communication.<\/p>\n
Moral of the story?\u00a0 Get personal, and consumers will come!<\/p>\n","protected":false},"excerpt":{"rendered":"
It\u2019s marketing 101, define your target market, create a value proposition that appeals to them, satiate a deep need, and consumers will come. Interestingly enough, marketers are often so broad…<\/p>\n","protected":false},"author":2,"featured_media":1076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_uag_custom_page_level_css":"","footnotes":""},"categories":[40,38],"tags":[],"class_list":["post-1075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-branding","category-marketing"],"aioseo_notices":[],"uagb_featured_image_src":{"full":["https:\/\/imagemme.com\/newsite\/wp-content\/uploads\/2016\/11\/bloomingdales-newsletter11.jpg",448,341,false],"thumbnail":["https:\/\/imagemme.com\/newsite\/wp-content\/uploads\/2016\/11\/bloomingdales-newsletter11-150x150.jpg",150,150,true],"medium":["https:\/\/imagemme.com\/newsite\/wp-content\/uploads\/2016\/11\/bloomingdales-newsletter11-300x228.jpg",300,228,true],"medium_large":["https:\/\/imagemme.com\/newsite\/wp-content\/uploads\/2016\/11\/bloomingdales-newsletter11.jpg",448,341,false],"large":["https:\/\/imagemme.com\/newsite\/wp-content\/uploads\/2016\/11\/bloomingdales-newsletter11.jpg",448,341,false],"1536x1536":["https:\/\/imagemme.com\/newsite\/wp-content\/uploads\/2016\/11\/bloomingdales-newsletter11.jpg",448,341,false],"2048x2048":["https:\/\/imagemme.com\/newsite\/wp-content\/uploads\/2016\/11\/bloomingdales-newsletter11.jpg",448,341,false]},"uagb_author_info":{"display_name":"admin","author_link":"https:\/\/imagemme.com\/newsite\/author\/admin\/"},"uagb_comment_info":8241,"uagb_excerpt":"It\u2019s marketing 101, define your target market, create a value proposition that appeals to them, satiate a deep need, and consumers will come. Interestingly enough, marketers are often so broad...","_links":{"self":[{"href":"https:\/\/imagemme.com\/newsite\/wp-json\/wp\/v2\/posts\/1075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imagemme.com\/newsite\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imagemme.com\/newsite\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imagemme.com\/newsite\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/imagemme.com\/newsite\/wp-json\/wp\/v2\/comments?post=1075"}],"version-history":[{"count":1,"href":"https:\/\/imagemme.com\/newsite\/wp-json\/wp\/v2\/posts\/1075\/revisions"}],"predecessor-version":[{"id":1078,"href":"https:\/\/imagemme.com\/newsite\/wp-json\/wp\/v2\/posts\/1075\/revisions\/1078"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imagemme.com\/newsite\/wp-json\/wp\/v2\/media\/1076"}],"wp:attachment":[{"href":"https:\/\/imagemme.com\/newsite\/wp-json\/wp\/v2\/media?parent=1075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imagemme.com\/newsite\/wp-json\/wp\/v2\/categories?post=1075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imagemme.com\/newsite\/wp-json\/wp\/v2\/tags?post=1075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}