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Market segmentation sounds like a scary prospect if you don't fully know what it means. Really it's just a fancy way of saying groups of people!

My good friend Hunter Leonard over at Blue Frog Marketing gives a great explanation of marketing segmentation in his Book titled "Marketing Has No Off Switch" which he was more than happy to allow me to share with you:

This is a customer analysis tool that again aims to help you apply your marketing to a small segment of the population in order to best use limited resources.It is effectively a two-step process...

 

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One of the essences of PR and promotion is that you have to pound the same message home time and time again.

All marketing material on a certain subject should all go in the same direction and bear a similar message.  You are attempting to simply pound home a message.  If the message is not smooth, it won’t pound home.

Marketing materials like fliers do not have to teach anything, it merely has to create want.  Fliers are full of punchy short lines that deliver exactly what you mean.  It is an exclamation point in advertising – it isn't a discussion.

The flier should offer a product, describe it, say how to get it, picture it and hard sell it...

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One of the first actions many businesses take in tough times is to cut their marketing budget. They do this for one of 3 reasons

  1. To save money
  2. Value isn't understood
  3. Their marketing isn't working

Cutting marketing to save money is understandable if you can’t afford to pay your bills. But it is a bit like killing the milking cow because you can’t afford to buy its food. Once you kill the cow, you won’t have to buy food but you also won’t get any milk.

If you cut marketing simply to save money there is a fair chance you've just consigned your business to failure...

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Do you give customers what they want?  

When you buy something do you sometimes feel you've been short changed and other times that you are really happy with the purchase?  

Why is this, and what can you do to make sure that your customers are suitably impressed with your product or service and ensure you've got their repeat business?

This week I'm focusing on how a business interacts with its prospects and what the meaning of exchange has to do in the field of business.

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