Marketing Genius from Maple Creative


Marketing tips, observations & philosophy, plus a few rants and random musings - from those who practice, preach and teach marketing, research, advertising, public relations and business strategy.

Tuesday, May 31, 2005

How Advertising Works - Part Two

There is a reality that you and I must face as we create advertising and marketing strategies.

It is the fact that at any given time, most businesses, services and products only appeal to a very small percentage of the buying population.

Then, after this small "thin-market" is in the position to buy, you and I enter into competition with other brands, products and services in the product category.

An example of this would be the fact that only about 14% of the adult population in our core market area here in Charleston are seeking a new home today.

14 out of 100. That's pretty thin. Then those 14 people have to make a decision as to which realty company, if any, they are going to contact to help them facilitate the purchase of their new home.

You and I flow in and out of these "thin markets" constantly.

Today I may need shoes, two weeks ago, I needed a new car, yesterday, I wanted to donate my used car to a good cause, tomorrow, I may be in the market for furniture (my anniversary is coming up).

My point is that not only does advertising have to be effective in communicating to a target audience in terms of demographic and psychogrpahic likelihood to buy, but it also needs to be present when an overall small percentage of the market is actively seeking your product or service.

That's why one of the first things we do with businesses we work with is chart their sales, revenues and expenses by month.

Find out when the highest numbert of people are in the market for your product and it's a little easier to sell it to them.

Fight the "thin market" and you probably won't win. Look at everything you can get your hands on to see when it is best to put your message out there to cultivate the best opportunity for you to create an environment for sales to flourish.


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