SHOW NOTES Episode 1. Season 5.
Episode 4. Your target markets
Show Objectives - The Why
In this season, we are building your Brand Pyramid.
A brand pyramid is a framework that answers most of the fundamental questions in a diagram that can be easily shared and communicated across an organisation.
Far from a trivial exercise, developing a brand pyramid forces consensus among senior management with regards to what the company wants to be, who it serves, why, how it should make customers feel and what the company’s core values are.
It also clarifies brand fundamentals and sets the strategic foundation.
In short, a brand pyramid keeps everyone rowing in the same direction.
Each week, we discuss the layers of the pyramid, what it’s objective is and give helpful tips on how to develop it.
The brand pyramid consists of:
This week, we discuss the next step… determining your target market.
When putting this show together, I blended my 17 years’ experience with that of others I admire to give you the best advice possible.
What is a target market?
A target market refers to a group of customers to whom a company wants to sell its products and services, and to whom it directs its marketing efforts. Consumers who make up a target market share similar characteristics including geography, buying power, demographics, and incomes.
Identifying the target market is an essential step for any company in the development of a marketing plan. Not knowing who the target market is could cost a lot of money and time for a company.
Understand the target market:
Segment the target market:
Written by - Richard Miller – Brand Director, Crisp & Co.
Innovation, creative content and strategic communication specialist.
Richard started his first business at the age of 14 and has thrived on creating and building entrepreneurial opportunities ever since.
He began his advertising career as Agency Sales Executive for TV network Channel 10 in 2006.
Experienced in both media sales and buying, Richard was responsible for multi-million-dollar media accounts as National Media Manager for Iceberg Media before co-founding Crisp & Co. in 2009 (formally Crisp Advertising).
Taking a pragmatic and results focused return on investment approach has established Crisp & Co. as the go to creative and communications agency for local and national businesses seeking expertise in business insight, creative content and strategic communication.
With a lifetime of experience operating small to medium businesses and working closely with both local and national brands, Richard is well positioned to take a holistic view of a full marketing and sales plan with a keenly trained eye on creative concepts and communication strategy.
Along with wife and work colleague Siobhan Miller, Richard also co-hosts the podcast series Mad Man & The Hospitalian; interviewing highly successful professionals from business, marketing and hospitality backgrounds around Australia, discussing the highs and lows of their careers and asking the ultimate question; ‘what is your definition of a fruitful life?’.
Find out more about Crisp & Co. here www.crispand.co and listen to Mad Man & The Hospitalian wherever you get your podcasts. Connect with Richard on LinkedIn
new choice for BUSINESS SEARCH
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