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target market Archives - Syneka Marketing

Do not overlook your products and services

By | Advice for Businesses | No Comments

The marketing mix, or customer experience, forms the foundation of a strategic marketing approach. Each element within the mix needs to be considered from a strategic perspective to ensure alignment between business goals, market value and marketing outcomes.

While many businesses understand the core of what they offer, they often overlook the other attributes that consist of their product or service. A product or service will typically have three core components:

  1. The Core  – the fundamental need you provide. The core is the generic need that that is fulfilled by utilising your product or service. For example in hospitality you are satisfying hunger, or shelter for accommodation. This is often cited as one of the reasons for the failure of Kodak, since it failed to consider that its products provide story telling or memories, not photography.
  2. Actual product – the tangible components that customers interact with. This is the physical configuration of the product or service, including packaging, staff interaction and the product itself. Hospitality incorporates the setting of the restaurant, cuisine selection and attitudes of staff. In the case of Kodak, the product included the film quality, packaging and store interaction. Had Kodak considered its product as storytelling or memories, then the actual product would have encompassed digital storage, cameras and photography sharing.
  3. Augmented product – additional components you can offer to differentiate yourself from competitors, which reinforce your value proposition. A fine dining restaurant may incorporate an additional course in a degustation menu for regular customers, while a hotel may offer valet parking or extended check outs.
Product components

A product consists of many components – all of them need to be part of the marketing mix

Failing to incorporate a holistic view of your products or services will cause fragmentation within the marketing mix and diminish outcomes. Marketing needs visibility and influence into product development and service composition to ensure alignment across each element of the marketing mix.

Complimentary Consultations to help the not-for-profit sector re-define marketing

By | Advice, Advice for Businesses, Advice for Not-for-profit Organisations and Charities, Presentations | No Comments

We offered complimentary marketing consultations during the conference and it was great to see the overwhelming response, with our sessions being oversubscribed. While each organisation has its own unique challenges, common areas of focus included:

  • The need to segment stakeholders and to understand their outcomes. Many not-for-profit organisations view their end-clients as a target market, but omit the need to reach prospective volunteers, board members, government, funding organisations and others.
  • Consideration of intermediaries and partner organisations. Many not-for-profit organisations have limited budgets, meaning broadcast communications are often beyond their reach. Instead, there is a need to form partnerships and explore intermediary organisations to reach relevant stakeholders.
  • Marketing metrics are not defined, leading to lack of measurability and confusion over inputs, outputs and outcomes. Website visitations, or attendance at information sessions are inputs, donation enquiries are an output and the actual donation is the outcome. Organisations need to understand the decision making journey (customer journey) and the sequence that is required to generate action.
  • Lack of marketing governance. Roles between board, management, staff and external parties are ill-defined, hampering the ability to measure performance and establish strategic direction.

These challenges are shared by both businesses and not-for-profit organisations, demonstrating the ongoing need to re-define marketing so it returns to its core of being led by strategic insights and not by execution.

Thank you to the participants of these sessions and for the fantastic feedback we received. We hope that the attendees at the National Volunteering Conference are able to build their marketing capacity and demonstrate the value they provide.

The problem is not your brand – it is marketing

By | Advice, Advice for Businesses, News | No Comments

The confusion between branding and marketing with the terms often being used interchangeably, often results in poor outcomes due to the wrong questions being asked. As a result, there is a tendency to design new brands, rather than addressing the fundamental marketing aspects that should strengthen market positioning.

What is Marketing?

We have defined marketing on several occasions, including definitions adopted by peak industry associations. In summary, marketing exists to deliver mutually beneficial value; to your customers and stakeholders, as well as to your business. If marketing is not delivering value, then it needs to be reviewed.

Defining branding

Your brand is the internal and external representation of your business, as well as your products or services. Brands encapsulate the value and perceptions that you are seeking to create, through visuals (logos, packaging), audio (music, sound), tone, style and potentially other senses. Consider brands like Coca Cola, Dulux or Bunnings and the perceptions you have towards them.

Your brand is the image and identity that you seek to create with your relevant target markets.

The connection between branding and marketing

A brand is the outcome from your strategic marketing plan and not the other way around.  Unfortunately, many start with a brand and then try to shoehorn marketing around logos and values that may not be relevant to their products or target markets.

Determining your brand is premature if you have not identified the following:

  • Your Target markets, who are targeting and why?
  • Your core products and services, what are you offering to your target markets and why?
  • Your value proposition, what value do you provide to these target markets?
  • Core elements of the marketing mix, or customer experience. In particular, make sure that pricing points are relevant and you have identified key distribution channels.

Your brand needs to reflect your strategic direction so you can deliver a consistent experience that builds customer acquisition and loyalty.

Successful brands are those have ensured a consistent marketing approach, Apple across its product lines is a typical example of a brand that is known for innovation. This creation of innovation as a value proposition, was defined through its marketing direction, ensuring that products, their design, function and communications reflected this positioning.

A brand refresh is more than a new logo or colouring scheme; it needs to be considered from a marketing context. There is little point developing or refreshing a brand that does that have relevance to your marketing direction.

Visit Brisbane ad

Is it Visit Brisbane or Visit Melbourne?

By | Government | No Comments

As a strategic marketing agency it is our role to assist clients in determining their unique value proposition, which in turn informs their target markets and marketing mix. Over the break I encountered this billboard at Southern Cross Station:

 

At first, I thought that it was perhaps an advertisement for a restaurant at South Warf, given it is approximately 1 kilometre from Southern Cross Station and has almost the exact same look and feel as this advertisement.

On closer inspection, I realised that this was not an advertisement for South Warf, but for Brisbane.

Visit Brisbane ad

Visit Brisbane ad

Brisbane, unlike other areas in Queensland, is the urban centre, with a population of 2.3 million. It doesn’t have the glitzy beaches and hotels like the Gold Coast or the pristine scenery of the Whitsunday’s; and in many ways it is a lot like Melbourne.

Brisbane Marketing is the official tourism organisation for Brisbane, with one of its goals to increase interstate tourism from Melbourne. Unfortunately, this campaign has not understood this target audience.

South Warf Melbourne

South Warf Melbourne

Riverside dining at South Warf Melbourne

Riverside dining at South Warf Melbourne

There is no point creating a tourism campaign that looks like it was shot in Melbourne and then sold to people in Melbourne, when they can get the same experience walking 12 minutes from Southern Cross Station.

Tourism exists to generate a return, and while this campaign goes beyond the typical flora and fauna approach it does not look at how to position Brisbane’s strengths relative to Melbourne.

We encourage Brisbane Marketing to look strategically at their target audiences and start creating campaigns that these audiences with value.

Russel Howcroft on the Power of TV

By | Advice for Businesses | No Comments

This morning the Australian Marketing Institute held an exclusive session held an exclusive session at the Channel Ten studios, featuring Russel Howcroft who discussed the role of ‘traditional media’ in a digital world.

The role of marketing is to use the right tools across the marketing mix to achieve business outcomes. The traditional forms of communications, through TV, radio and print, remain just as valid today, even with the introduction of digital tools. Multiple communication tools are often required to create action, so there is a need to identify how best to reach and motivate your target markets.

At Network Ten

At Network Ten

No mainstream digital disrupter, such as Twitter, Facebook or Google, has been able to achieve its market presence without the use of traditional media. Rather than seeing digital as distinct to traditional, marketers need to view these tools as the means to achieve business goals.

We’ve defined customer experience – now connect it to the customer journey

By | Advice, Advice for Businesses, Advice for Not-for-profit Organisations and Charities, Government, News, Resources | No Comments

We recently discussed the need for marketing to move beyond buzzwords and to instead re-claim the definition of customer experience, which forms the very core of marketing theory. Our thoughts have now been viewed organically by over 5000 people in just 48 hours via LinkedIn, and continues to be actively being shared across key social media channels.

Interest in this article has demonstrated why marketing needs to reclaim its core remit, so today we are going to exploring another buzzword: customer journey.

In defining the customer experience, we returned to the core of marketing theory through the marketing mix. The overall customer experience is going to be defined by the impact of the impressions that are made across each of these elements.

We need to return to fundamentals to explore the customer journey, as we explore the steps that are taken for someone to become a customer and ideally remain so on an ongoing basis.

Phases in the Customer Journey

There are three interconnected phases within the customer journey:

  • Pre-purchase – where the aim is to raise awareness with your target markets and ensure that your brand is actively considered by these prospective customers.
  • The Purchase phase – where the prospect becomes a customer. This is where they commit to purchasing your product or service and the perceptions of its brand.
  • The Post-purchase phase – where your customer considers the outcomes and value they received, based on their perceptions and the outcomes that were achieved.

The three phases of the customer journey as mapped to the decision making process
The three phases of the customer journey as mapped to the decision making process.

 

The Decision Making Process has its origins in consumer behaviour stemming from the 1960s. We have adapted this model to explore each phase in the customer journey, as viewed through the decision making process. It explores both the rational (such as pricing and function) and perceptual (attitudes and subjective impressions) aspects that influence the decision.

The customer journey is not linear and this particularly true if there is a desire to build loyalty and repeat purchases. The experience you are creating through the marketing mix will impact on the ability to successfully transition your target market through the customer journey. The customer experience relates to their interaction with your business or brand, while the customer journey views this from the customer perspective as they identify the best fit for their needs.

Like other buzzwords in marketing there is a need to return to core principles, a Marketing Manager should have the ability to influence factors that assist in transitioning customers through the journey.  We will be continuing this series as we turn our attention to measuring both the customer experience and journey.