Consumer Marketing Analysis

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All marketing has to start with the consumer, there is no getting around this fact, therefore embrace it and understand it.

But what exactly do you need to know about the consumer anyway?

On-line Marketers have coined the word, “avatar” or your “Perfect Customer”, and since I am Inbound Marketing Certified I had to study this again. They took the 5 questions taught by corporate business to do a consumer analysis report.

Corporate Business have been using Customer Avatars and doing Niche Marketing since way before the Internet. ( slight dig at all the “Internet guru’s” who will have you believe that they invented something new and profound)

The 5 Questions that need to be asked about the consumer are:

  1. What is the need category?
  2. Who is buying and who is using the product?
  3. What is the buying process?
  4. Is what I’m selling a high- or low-involvement product?
  5. How can I segment the market?

What is the need category?

While it may seem simple, this should be the first question asked, since it is the foundation of your marketing strategy.

  1. What is your product used for?
  2. What can it be used for?

If you are entering an established market space, the second question would be better explored, since chances are you will find different less saturated markets to market your product in.

Who is buying and who is using the product?

While the buyer can also be the consumer or end user, it is not always the case and you should differentiate between buyer and consumer.

Example: Baby Cereal

The consumer is not the buyer, and the marketing message should be aimed at mothers and not babies.

What is the buying process?

By now you have figured out what your product/service is used for and who the buyer and/or consumer is, next up is to figure out how the product is purchased, this will allow you to figure out where to position your marketing message in the customers buying journey.

While the decisions that we make on a daily basis is based in microeconomics, the following formula should assist you in collecting this data.

Awareness – Information Search – Evaluate Alternatives – Purchase – Evaluate

I am hungry – decide if I want pizza or sushi – ask the wife what does she feel like – pizza – Go to nearest Pizza Parlor – look at different toppings – look at the specials – make a purchase – did i enjoy that? if yes, I might go back to the same parlor next time and/or purchase the same pizza ( even if it is not on special)

As you can see there is at least 5 different marketing opportunities in the above example.

Is what I’m selling a high- or low-involvement product?

High involvement products are for example a house or car or even a $1000 website, or pair of high end sneakers, any product or service where the consumer or buyer might feel exposed to risk.

High involvement products need benefits and features to be the focus of the marketing message, or the message must evoke a feeling or emotion that will justify the higher price or investment in the product or service.

A low involvement product could also be elevated to a high involvement product with the right marketing message, allowing for a higher price point for the same product.

Example: no name  sneakers vs the latest designer Nike sneakers.

Marketing message for the sneakers will be based on affordability and function, while the Nike marketing will evoke a feeling of status and exclusivity.

You should always strive to push your product into the upper high involvement bracket if possible.

How can I segment the market?

This is important to know, since if your product is mass market consumable, then you do not need to segment your market, otherwise you need to figure out where to position your product – niche marketing

If you would like to see all the segments that you could use, go to Facebook Ad manager and see all the available segments that can be used to figure out where and how to position your product.