Outlining the key buyer persona sections involves gathering and analyzing information about your ideal customer. This helps in tailoring marketing strategies to meet the specific needs, behaviors, and concerns of different segments of your audience
Here are four example Buyer Personas for Variety Seeking consumers. Ideal as a thought starter for your own buyer persona design.
Baby Boomers, the generation born between 1946 and 1964, continue to play a significant role in the consumer market. Understanding their consumer behavior characteristics is crucial for businesses looking to capture this lucrative demographic.
The Gen X generation grew up during a time of significant cultural change, experiencing the rise of technology and witnessing the economic shifts of the 1980s and 1990s. These experiences have shaped their consumer behavior in distinct ways.
Gen Y, also known as Millennials, is one of the largest and most influential consumer groups in the market. Find out more about the consumer behavior of Gen Y.
Gen Z, born between the mid-1990s and early 2010s, presents unique traits that shape their purchasing decisions. Understanding these behaviors is essential for businesses aiming to target Gen Z consumers effectively.
Why should marketers review relative market shares? Let’s find out why relative market shares are often a more insightful metric than ‘normal’ market shares.
It would be a mistake for a firm to rely upon one market share measure only. Assuming that the firm has access to competitive sales information, then a variety of market share metrics should be calculated and reviewed.
When studying marketing it is important to understand the concept of a market and the exchange process.When we use the term “market” in a marketing sense, there are actually three possible views that we are considering – the overall market, any sub-markets and the brand’s target market/s.Overall marketThe overall market consists of all potential buyers …
Outline of the target market selection evaluation criteriaTarget markets should be evaluated on:Financial IssuesSegment sizeSegment growth rateProfit marginsStructural AttractivenessCompetitors (direct and indirect)Competitive rivalryAccess to distribution channelsCurrent channel relationshipsStrategic DirectionFit with the firm’s strategic futureGrowth expectationsMarketing ExpertiseResources (financial position and staff resources)Capability (to develop products and compete)Importance of brand equity (ability to leverage, dilution concerns)Opportunity CostAre …