What Do Marketers Need to Know to Reach their Target Audience?

by Vince Rogers

There are essentially 2 different types of Marketing Strategy Approaches. There is Mass Marketing which involves delivering your message via a broadcast marketing channel such as television. You do this in hope that the message will reach consumers in all of the different Market Segments for your product or service. Then there is Target Marketing which involves aiming your marketing efforts towards reaching a well-defined Target Audience

The Target Audience is a segment of the Target Market that has common characteristics.  The most effective way to succeed at marketing a specific product or service is to determine your specific Target Audience for that product or service. If you are marketing boxing gloves for instance, your target market is boxers. Deciding on the best target audience may require some research.

 The fist step to deciding on a Target Audience is to create a profile of your Target Customer. This profile should provide for a description of your Ideal Customer. Some of the characteristics to determine in building your ideal customer profile are: Geographic Considerations: Where do they live? Demographic Considerations: What Are their Age, Sex, Occupation etc. and Psychographic Consideration: What do they believe in?

If you’re selling boxing gloves the most important question to ask may be whether individual boxers or some other Target Audience is going to be the best to focus your marketing efforts on? For instance, the end user for our boxing gloves is obviously the boxer. However, the Coach, Trainer, Gym Owner or Athletic Association may be the actual buyer or decision maker. As a Marketer you should focus your resources towards reaching the Target Audience that you believe is likely to buy the most boxing gloves.

Determining the Target Audience for your Marketing Campaign will help you determine the most cost effective way to deliver the right marketing message. To deliver that message you must use the appropriate marketing channel. These are the keys to success of implementing your successful Target Marketing Strategy.

This article is a companion to the  “Business Success” Video Series presented by Vince Rogers for eHow.com http://www.ehow.com/videos-on_12239455_business-success.html

Learn about the Keys to business Success with help from the Principal Change Agent atVince Rogers & Associates www.vincerogers.biz 

Business Sucess Video Series #2

What Are Two Common Barriers That Prevent Firms From Entering the Market?


A number of different barriers exist that often prevent firms from successfully entering the marketplace. Learn about two common barriers that prevent firms from entering the market with help from the principal change agent at Vince Rogers & Associates in this free video clip.


What Are Two Common Barriers That Prevent Firms From Entering the Market? —powered by eHow.com

Video Transcript

Hello, this is Vince Rogers with Vince Rogers & Associates. I want to talk to you about the two greatest barriers of entry for a company into a new market, or a new business. There are a lot of barriers of entry for a business into a new market. There can be zoning issues. There can be issues of bureaucratic red tap, and you can, frankly, be entering into a market where the competitor just has a great reputation that you're not going to be able to enter that market, because you're dealing with a big competitor. But, there are two very, very basic barriers of entry for most companies into a new market, and the first is going to be lack of access to adequate start-up capital, and the second is going to be having a solid business plan. Now, there are many sources for start-up capital. You want to, hopefully, be in a position where you can use your own savings, but most entrepreneurs have to either seek money from family, friends, banks, venture capital firms, or angle investors. The second barrier of entry for most businesses is that they don't have a solid business plan. A lot of people, they have a idea that they think is ready to be a full-fledged business, but sometimes they're just not ready. Sometimes they don't have a good plan for the business they want to enter into the market with. So, the second greatest barrier to entry is not having a good plan for your business. If you don't have a solid business plan, you're not going to be able to get adequate start-up capital, which is the other barrier of entry for most businesses. This is Vince Rogers with Vince Rogers & Associates, and we've talked about the two greatest barriers of entry into a market: lack of access to adequate start-up capital, and lack of a solid business plan.

Read more: Video: What Are Two Common Barriers That Prevent Firms From Entering the Market? | eHow.com http://www.ehow.com/video_12239461_two-common-barriers-prevent-firms-entering-market.html#ixzz20LAi6FZy


http://www.ehow.com/video_12239461_two-common-barriers-prevent-firms-entering-market.html

Business Success 2

View more PowerPoint from Vince Rogers & Associates

Business Success 2 — Presentation Transcript

• 1. Business Success Prepared by Vince Rogers & Associates for Demand Studios
• 2. What AreTwo Common Barriers That Prevent Firms From Entering a Market?
• 3. Many people dream of starting a new business Many of us will succeed in getting that new business off the ground Unfortunately, many of these businesses will failFor those businesses that never get off the ground, there are a number of “Barriers to Entry” that prevent these enterprises from launching
• 4. There are many barriers to entry into a market that new companies can face such as: Lack of Access to Proprietary Technology Government Regulations or Bureaucratic “Red Tape” Zoning Issues Existing Customer Loyalty for Competing Products
• 5. However there are Two Common Barriers That Prevent Most Firms From Entering a MarketThis is true whether you’re trying toopen a typical fast food franchise or an innovative high tech start-up
• 6. It is often said that the number one reason for business failure is lack ofaccess to sufficient operating capital Lack of Access to Sufficient Startup Capitalis also the number one reason that most businesses never get off the ground
• 7. If you don’t have personal savings to fund yourBusiness, then you will have to acquire it fromother sourcesThe most common sources of business financingare: Family Friends Banks Venture Capital Firms “Angel Investors”
• 8. Financing from either of these sources will come in the form of loans that will have to be repaid or investors in your business acquiring some percentage of ownership interest and control Sometimes, when aspiring entrepreneurs can’t obtain the necessary funding to start theirbusiness, the one thing that many fail to accept is that their concept or idea may not be ready to be a real business
• 9. If you can’t acquire the funding to launch your new business you might want to consider the obvious – your concept may not be strong enough to be an actual business The second most prominent barrier to market entry is Lack of a Solid Business PlanHaving a great concept without a solid business plan can be a significant barrier to business success
• 10. A well written business planhelps to guide you through each step of the process in formulating your business If you are seeking to get funding from sources such asBanks, the SBA, Venture Capital firms oreven your relatives, you’re going to need a high quality written business plan
• 11. If you don’t have enough money tofund your business from the concept stage through initial operations it is highly unlikely that your business will be able to get of the ground If you don’t have a solid business plan you won’t have the roadmap you need for business success and it is unlikely that you will be able to acquire the additional capital you may need to succeed

http://www.slideshare.net/vincevision/bs2-13182397

What Has Marketing Provided to Our Economy and Our Lives?

by Vince Rogers

Marketing is defined by the American Marketing Association as "the activities, institutions, and processes that create, communicate, deliver, and exchange products and services that provide value to businesses, consumers, and society at large." The benefits that Marketing activities such as Advertising, Public Relations and Sales Promotion provides to businesses are pretty easy to understand.  These activities help companies to; Increase Revenue; Maximize Sales; and Attract Customers. So what’s in it for us?

Marketing helps to create Competition between companies.  Competition between companies results in 3 Major Benefits to Consumers. These benefits are 1) Promotion of Good Customer Service; 2) Availability of a Wide Variety of Products and Services and 3) Lower Prices for Consumers.

Companies use marketing activities to Promote Good Customer Service.  They must make good on their claims of providing good customer service in order to satisfy their customers.  Companies know that if they promote good customer service, but don’t make good on that promise, they will lose their customers to the competition.

Competition between firms results in the availability of an almost unlimited Wide Variety of Products and Services being produced and made available to consumers. Companies are constantly creating and promoting new varieties of products to compete for market share with their competition. This abundance enables consumers to have access to options that best suit their specific needs and tastes.

Maybe most important to consumers is the fact that competitive marketing activities between companies results in Lower Prices for Consumers. Because competing products usually have similar prices, marketing is used to promote discounts, coupons, rebates or any other price incentives. These attributes are designed to lure customers away from competing products. Also, companies use marketing to promote other non-price differences between competitor’s products and services such as new features, free shipping, extended warranties or anything else that will appeal to targeted consumers.

The benefits that marketing provides to businesses and consumers helps to expand the economy by making sure that consumers are provided with a wide variety of well priced products and good customer service.  These factors help to create a strong economy that produces successful businesses, low unemployment, and sufficient tax revenue to provide people with essential government services. All of these factors combined should contribute a higher quality of life for all of us.

This article is a companion to the  “Business Success” Video Series presented by Vince Rogers for eHow.com http://www.ehow.com/videos-on_12239455_business-success.html

Learn about the Keys to business Success with help from the Principal Change Agent at Vince Rogers & Associates www.vincerogers.biz 

Business Sucess Video Series #1

What Has Marketing Provided to Our Economy and Our Lives? 

Presented by Vince Rogers

Marketing is a very important aspect of both our economy and our lives, even if you don't necessarily realize that yet. Learn about what marketing has provided to our economy and our lives with help from the Principal  Change Agent at Vince Rogers & Associates in this free video clip.

What Has Marketing Provided to Our Economy and Our Lives? —powered by eHow.com

Hello, this is Vince Rogers with Vince Rogers & Associates. Going to talk to you a little bit about how marketing benefits our society and how marketing benefits us. We all know how marketing benefits businesses. Marketing leads to businesses having increased revenues, increased sales, increased profits, but what's in it for us? A lot of people don't understand exactly how marketing relates to the general increase of welfare for individuals. Well, marketing does three things for society, and it does these three things because of competition. Competition leads to businesses providing good customer service, a wide variety of products, and lower priced products. All these things leads to higher employment, greater business success, and greater tax collection by the government. All these things lead to us experiencing greater welfare and a greater standard of living. So, this is Vince Rogers with Vince Rogers and Associates, and that's a little bit about how marketing benefits our economy and benefits our lives.

Read more: Video: What Has Marketing Provided to Our Economy and Our Lives? | eHow.com http://www.ehow.com/video_12239460_marketing-provided-economy-lives.html#ixzz208iNjyQb

Business Success 1

View more PowerPoint from Vince Rogers & Associates

Business Success 1 — Presentation Transcript

• 1. Business Success Prepared by Vince Rogers & Associates for Demand Studios
• 2. What Benefits Have Marketing Provided to Our Economy and to Our Lives?
• 3. Marketing is defined by the American Marketing Association as"the activities, institutions, and processes that create, communicate, deliver, and exchange products and services that provide value to businesses, consumers, and society at large."
• 4. The benefits that Marketing activities such as Advertising, Public Relations and Sales Promotion provides to businesses are pretty easy to understandThese activities help companies to Increase Revenue: Maximize Sales: Attract Customers:
• 5. So What’s In It For Us?
• 6. Marketing helps to create Competition between companies Competition between companies results in3 Major Benefits to Consumers
• 7. Companies use marketing activities to Promote Good Customer ServiceThey must make good on their claims of providing good customer service in order to satisfy their customers Companies know that If they promote good customer service, but don’t make good on that promise, they will lose their customers to the competition
• 8. Competition between firms results in the availability of an almost unlimited Wide Variety of Products and Services being produced and made available to consumersCompanies are constantly creating and promoting new varieties of products to compete for market share with their competition
• 9. Maybe most important to consumers is the fact that competitive marketing activities between companies results in Lower Prices for Consumers Because competing products usually have similar prices, marketing is used to promote discounts, coupons, rebates or any price incentives that will lure customers away from competing products
• 10. Also, companies use marketing to promote other non-price differencesbetween competitors products and services such as new features, free shipping, extended warrantiesor anything else that will appeal to targeted consumers
• 11. The benefits that marketing provides to businesses and consumers helps to expand the economy by making sure that consumers are provided with a wide variety of well priced products and good customer service These factors help to create a strong economy that producessuccessful businesses, low unemployment, and sufficient tax revenue to provide people with essential government services All of these factors should contribute a higher quality of life for all of us

www.slideshare.net/vincevision/bs1-13182396