How are marketers responding to the fragmentation of the consumer market? They are using more sales promotions that are tied to local events. How are marketers responding to the fragmentation of the consumer market? They are using more sales promotions that are tied to local events. that they save money. content aggregator.
While in earlier times, the Conversation between the Advertisers and the Consumers was staid, in the Digital Age, with advanced technologies, the conversation and in turn, the consumer fragmentation has given rise to hyper personalization.
Smart marketing leaders will look to leverage brand loyalists and influencers to build subsets of customers of pre-baked targets that base many of their spending decisions on the recommendations of those they trust. Affiliate marketing and influencers could come to the surface again, but not in the same way.
As they continue into 2022, brand marketers should acknowledge that many tides are turning — customer behavior and expectations, privacy, and the evolving symbiotic relationship with other internal and external groups. Here are five of my predictions for the next year.
The main reason why consumer markets have become so fragmented is that everyone wants to stand out and be individualistic in their consumer behavior. Moreover, they see the Rich and the Very Rich becoming more exclusive and then the rest turns aspirational as well which gives rise to the Copycat consumption patterns.
A key aspect of the Age of Fragmentation is that there is a Symbiotic Relationship between Marketing Strategies and the Markets. As marketers turn to technology in the form of Big Data Analytics, and AI or Artificial Intelligence powered Algorithms to target consumers, the consumers in turn become fragmented and more niche.
It is bad because Marketers can no longer lump them into one segment and expect the consumers to respond accordingly. Further, with access to 24/7 media across all mediums, these consumers are becoming more specific and more demanding as far as product quality and brand equity are concerned.
Indeed, marketers can no longer push products without stringent quality checks to all segments and more so, the brand equity of their goods matters to the Middle and the Lower Ends of the Income Pyramid as well. what this means is that these consumer segments now exhibit brand recall and top of the mind recall for all brands instead of merely reaching out for the lowest price or what their neighborhood store stocks.
D. Creatives have become more sophisticated, and this sophistication has led to a decline in their dependence on sales promotion.
A. The advent of optical scanners and computers gave manufacturers access to sales information.
E. Marketing experts generally agree that sales promotion plays an important role in building and maintaining a brand's image and position.
A. Sales promotions are now considered an essential part of an organization's branding strategies.
Big corporate companies and smoothie brands may not be natural bedfellows, but PepsiCo aims to drive sales of its PJ’s brand by slashing its price. The challenge now is to manage the price cut so there is no change in the perception of quality or health benefits. John Reynolds reports
Reward scheme Nectar’s botched relaunch (MW last week) rounds off a dire 12 months for free giveaways and prize promotions. The loyalty card, which allows customers to collect points at retailers such as Sainsbury’s, BP and Debenhams, has received a flood of complaints from collectors who have failed to get their promised rewards. This comes […]
MBNA’s rebranding campaign needs to engage increasingly savvy consumers with something new, if it is to improve its tarnished reputation in a highly competitive market, says Kate O’Flaherty
The main reason why consumer markets have become so fragmented is that everyone wants to stand out and be individualistic in their consumer behavior. Moreover, they see the Rich and the Very Rich becoming more exclusive and then the rest turns aspirational as well which gives rise to the Copycat consumption patterns.
A key aspect of the Age of Fragmentation is that there is a Symbiotic Relationship between Marketing Strategies and the Markets. As marketers turn to technology in the form of Big Data Analytics, and AI or Artificial Intelligence powered Algorithms to target consumers, the consumers in turn become fragmented and more niche.
It is bad because Marketers can no longer lump them into one segment and expect the consumers to respond accordingly. Further, with access to 24/7 media across all mediums, these consumers are becoming more specific and more demanding as far as product quality and brand equity are concerned.
Indeed, marketers can no longer push products without stringent quality checks to all segments and more so, the brand equity of their goods matters to the Middle and the Lower Ends of the Income Pyramid as well. what this means is that these consumer segments now exhibit brand recall and top of the mind recall for all brands instead of merely reaching out for the lowest price or what their neighborhood store stocks.