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Back to Marketing Basics!

Gary Osborne, Insight & Brand Planning Specialist

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Image by Carl Heyerdahl on Unsplash

The AMA (American Marketing Association) defines marketing as the activity or business of promoting and selling products or services, including market research and advertising (AMA, 2017).  A target market is a group of people with some shared characteristics that a company has identified as potential customers for its products. Identifying the target market informs the decision-making process as a company designs, packages, and markets its product.  In order to stand out to a category buyer and gain/maintain a listing brand owners must be able to clearly articulate why they exist and what purpose they serve.  A clear articulation of the brand story is the best way to achieve this.

Sometimes it’s helpful to go right back to basics in order to stop and check that your brand’s story is relevant and based on the latest consumer and market insight you can access.  This is especially the case for smaller businesses that often don’t have a lot of budget to invest in media buying and must use every opportunity to tell their unique story. Enquiries for information should go to thethinkinghouse@bordbia.ie

The prism of the 6W’s is a well-established way of thinking about your brand and the people who are most likely to buy it. 

Who?

This is the most important of the 6 W’s because all your other answers will come from your response to this question. In order to market effectively you have to know who you are marketing to and the more specific you can be in identifying your “avatar” or profile of the perfect prospect, the better you will be able to reach them with the right message at the right time and at the right place.  Think about factors such as age and gender but don’t be restricted by these. It’s useful to also think about psychographic factors such as need-states and ‘conflicts’ in consumers’ lives e.g. the need to enjoy what I eat vs. the need to not overconsume and gain weight.

What?

What is your “Who” looking for? What needs or wants does your product fulfil?  The best marketers identify the target market (Who) first and then create a product or service (What) for them.  Nail exactly what the product is in clear and precise terms that anyone can understand.

Where?

Where is the purchase location? Or just as importantly where will your “Who” find you? Online or offline?  Retail (supermarkets, convenience stores, department stores) or foodservice (Bars, restaurants etc.)?  Where do people looking for your product and services spend their time?  What interests them? What do they read? Who do they associate with? Where do they work/socialise/spend family time?

When?

When is the consumption moment? What else is going on? Who is present? Alone? Family? Friends?  Will the product be given as a gift?

Why? Why would your potential customer want what you have to offerWhy would they choose your company or service? What do you and your company have to offer that is different than the next company?  What is your Unique Selling Proposition or even if not unique what most sets you apart from the competition?

It’s always worth refreshing your knowledge of the Bord Bia Consumer Lifestyle trends and the culinary trends 2022 to be as certain as you can that your brand truly is meeting the current and emerging needs of consumers (Bord Bia, 2021). For more information please on both please see here and to learn more about self-directed learning from Bord Bia please check out the Learning Zone.

 

References

AMA. (2017). Definitions of Marketing. Retrieved December 2, 2022, from American Marketing Association website: https://www.ama.org/the-definition-of-marketing-what-is-marketing/

Bord Bia. (2021). Consumer Lifestyle Trends. Retrieved December 7, 2022, from www.bordbia.ie website: https://www.bordbia.ie/industry/insights/consumer-lifestyle-trends/