Marketing ski products to ski enthusiasts leads to specific promotional strategies.
The strong relationship between your target market and the most effective promotional strategies to use is identified by a common definition of a target market from Business Dictionary. The website states a target market is a "particular market segment at which a marketing campaign is focused." In essence, the selection of promotional strategies is tied to your targeted market. Learn Marketing says a great product's value is meaningless if you cannot use promotional strategies to clearly communicate it to the target market.
Segmentation and Targeting
The process of identifying your potential market segments, target discretely selected markets and positioning your brand as the best value to meet the needs of your market is what is known as STP marketing. Market segments are groups of customers identified for their similar traits. Segments are divided from a larger audience using various segmenting approaches like demographics, psychographics and lifestyles, usage, and geography. After listing potential market segments, marketers determine which segment to target for a given campaign. They they position the brand, based on its values, to that market.
Positioning
The Tutor2u site defines positioning as "developing a marketing strategy, which positions the product in relation to rivals in order to appeal to target segments." The key is whether the market segment you are trying to reach out to perceives your brand's value and prefers it to competing brands. This is only accomplished through effective use of promotional strategies and effective message objectives and delivery.
Promotional Mix
The promotional mix or communication mix is the combination of promotional strategies your company uses to convey your brand's value to its target market. Advertising, public relations, personal selling, sales promotion, direct mail and Internet marketing are the six elements of the promotional mix, as outlined by Learn Marketing. Each of these communication tools offers advantages to your business when attempting to communicate your benefits to the market. Some companies focus on one particular promotional approach, while others incorporate a combination of tools in their strategies.
Message Objectives
Your message objective establishes your goals for a given promotional message. For instance, you may want to communicate a unique selling proposition about your brand by consistently highlighting it across all communications. You would include words or images in your messages that clearly convey particular benefit of your brand to that given segment. If your company targets multiple markets, your message objective and delivery are likely different for each segment.
Tags: promotional strategies, target market, your brand, brand value, effective promotional, effective promotional strategies, Learn Marketing