Demographic profiles are fundamental in modern-day target marketing. There have been significant changes in consumer tastes and preferences across the five basic demographics. These trends call for new marketing strategies to be employed by companies to deal with the drastic changes in consumer preferences.
When a company needs to develop a new brand, it has to consider demographic trends for easy penetration of the brand into the market. When demographic trends are considered, the brand development process becomes relatively easy. This consideration is also very important in sustaining the brand in the market for a long period.
The five basic demographics to be considered in marketing strategies include gender, age, race, income and finally tribe or ethnicity (Shackman, 2011). This paper will discuss various ways through which a company applies different marketing strategies for different consumer groups.
Organizations that observe demographic changes have an opportunity to make pro-active marketing strategies that will be sustainable in case of any shift. Different consumer groups require different marketing strategies (Centre for Business Planning, 2011). When doing target marketing, the company should be sensitive enough to consider the different needs of different consumer groups (Allen, 2011).
Although mass marketing may be advantageous in terms of cost, marketing through segments ensures customer satisfaction and high income for the company (Tatum, 2011). While using the age demographic, it is easy to reach the youth through the internet than the aged people. Young people access the internet most of the time hence a company marketing a product for the youth segment will reap highly if they employ electronic marketing (Ward, 2011).
The middle-aged segment can easily be lured by newspapers and magazine advertisements than the internet. When marketing women products, it is convenient to use television adverts because research has shown that women spend a lot of hours watching television compared to men. According to the law of nature, opposites always attract. Women get attracted to adverts performed by men, and the reverse is also true (Entrepreneur Media, 2011).
Billboards work well when marketing for men because they are always regarded as visual beings. Radio advertisements work well for women because they normally respond well by hearing than seeing. One on one marketing is recommended for old people because of their interest in modern electronic marketing and the media is always low (Friedman, 2009).
Roadshow marketing is appropriate for young people because they are always outgoing and are attracted to the fun in the road shows. Men are always interested in sports more than women, and sporting venues are always appropriate for marketing men products (Mercer, 1996).
During football matches on the television, the most advertised products are for men because the marketers are always aware of the perfect opportunity to get their attention (Paley, 2006). Demographic trends should always be considered when designing marketing strategies. The success of brand development and sustainability will entirely depend on the ability of the company to study demographic trends.
Target marketing ensures customer satisfaction across all the demographics of age, gender, ethnicity, level of income and race. Market segments commonly referred to as consumer groups have unique tastes and interests and therefore appropriate marketing strategies have to be put in place relevant to each consumer group.
Rural markets little access to electronic materials and technologies hence the most appropriate strategy is to use door to door marketing to entice them (Shackmam, 2011). The income demographic segment needs well-planned strategies to reach the target group. Low-income earners have little access to electronic marketing, and hence relatively accessible marketing tools should be used.
Those with high salaries can access newspaper and magazine advertisements whereas the poor can be reached through road shows and the use of billboards (Paley, 2006). People with disabilities should also be considered when developing marketing strategies. The blind can be reached by audio advertisements which are very convenient to them.
Those who are unable to hear can be reached through visual advertisements (Paley, 2006). When marketing for people with special needs, care should be taken to ensure every consumer is reached. Target marketing offers satisfaction to all the customers in various segments. Through market research, the company is always in a position to understand the various needs of each consumer group for proper production adjustments to be made according to the special needs of a segment (Friedman, 2009).
Financial analysts argue that target marketing is very costly and time-consuming because of all the research that has to be done (Friedman, 2009). In conclusion, the world of business is very competitive, and organizations need to improve their policies and business strategies. One area that needs attention is the marketing department.
Many companies are shifting to target marketing because of its benefits in terms of customer satisfaction and increased profits for the company. Different consumer groups have got different tastes and preferences and hence require special attention. Companies that are smart enough are investing substantial resources in market research and target marketing to ensure their brands remain sustainable in the market.
When developing new brands, aggressive marketing needs to be done to penetrate the market (Shackman, 2011). The demographic trend of age, income, race, gender, and ethnicity have to be considered when a company is developing new brands. Research has shown that target marketing is the most preferred marketing strategy by consumers. Everyone needs recognition, and when the consumers receive that attention, they will buy the products and services of that particular company that recognizes them (Shackman, 2011).
Major marketing segments have sub-segments which have to be considered when designing any marketing strategy. It is always very challenging to market to different consumer groups in different ways but looking at the benefits involved; the effort is worth it. An effective and competitive marketing strategy gives consumer priority. Market segmentation is very important in brand development and its sustainability in the market.
References
Allen, C., 2011. What is strategic marketing planning? Web.
Centre for Business Planning., 2011. Marketing plan. Web.
Entrepreneur Media., 2011. Target market. Web.
Friedman, S., 2009. The complete idiot’s guide to target marketing. New York: Alpha Books.
Mercer, D., 1996. Marketing. Oxford: Wiley-Blackwell.
Paley, N., 2006. The manager’s guide to competitive marketing strategies. London: Thorogood Publishing.
Shackman, G. et al., 2011. Brief review of the world’s basic demographic trends. Web.
Tatum, M., 2011. What is market segmentation? Web.
Ward, S., 2011. Target marketing. Web.