Why Do I Need to Have an Ideal Customer? Here’s 2 Reasons

Women on Business

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Marketing to Women: A book review by Bob Morris

First Friday Book Synopsis

Marketing to Women: How to Understand, Reach, and Increase Your Share of the Largest Market Segment Marti Barletta Kaplan Business (2002) How to Succeed in the World’s Largest Market Segment In this uniquely informative volume, Barletta answers three separate but related questions: “What makes women a worthwhile market?”, “Why market differently to women?” repeat business and evangelistic loyalty the GenderTrends™ Marketing Model

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Learning How to Make Market Segmentation Work Again

Harvard Business Review

For decades, marketers have segmented their target customers to get a read on who will buy a product or service. But if your firm is still doing traditional segmentation using demographic details or psychographic profiles , you may be wasting your money. Worse, your old segmentation may distract you from major shifts in customer behavior that could cost you your customer base. The only segmentation that matters today is your own. Customers Marketing Technology

PrimeTime Women: A book review by Bob Morris

First Friday Book Synopsis

PrimeTime Women: How to Win the Hearts, Minds, and Business of Boomer Big Spenders Marti Barletta Kaplan Publishing (2006) The nature and extent of a “prime marketing opportunity&# Those who have already read Marti Barletta’s Marketing to Women will welcome this sequel in which she develops in much greater depth her core concepts with regard [.].

Young Entrepreneurs Find a Powerful Advantage by Encouraging Human Connection

Michael Lee Stallard

They’ve identified market segments that could benefit from better connection and crafted a customer experience using products and services to meet that need. Workplaces are full of disconnected people. There are still far too many leaders who, consciously or unconsciously, allow cultures of control or indifference that are disengaging and stressful for those under them.

Thoughts on Your Personal and Professional Success in the New Year

Management Excellence

I was truly gifted in 2011 to gain access to and work with and support some remarkable professionals across a number of different market segments…from high tech to professional services to manufacturing, and I learned something with every engagement and encounter.

You Priorities or Other People's Priorities

CEO Blog

I am going to be a bit ruder to be a bit saner. + “According to the National Floral Marketing Institute, men under the age of 35 spend $30 on flowers for Valentine ’s Day while, simultaneously, men between the ages of 45 and 60 spend 350% more. A 350% increase in revenue simply by targeting the right segment of the market.” Someone said "Your in box is a convenient way for others to put things on your priority list". I am finding this. My email volume is incredible.

Blonde Joke on Starbucks

In the CEO Afterlife

This characteristic was at the core of his brand’s point of difference versus the market leaders, Folgers and Maxwell House. Marketing 101 says, “Never try to be all things to all people,” but at Wall Street’s urging, zealous marketers keep trying to break that golden rule. From the very beginning, Howard Schultz understood and appreciated that a strategy is strengthened when a particular market segment is sacrificed for a greater cause.

Transformational Leadership

Coaching Tip

It is not corporate strategy , sales compensation plan , or the market segmentation. In the world of work, the single greatest asset of successful individuals, teams and organizations is their mindset --what happens in between their ears. It is what each leader, team member, and employee should focus on, believe and create for themselves and others.

How To Avoid Social Media Mistakes

Eric Jacobson

In his new book, Social Marketology , Ric Dragon , CEO of DragonSearch , recommends business leaders and marketing team leaders follow these eight tips to avoid making social media mistakes: Avoid mixing the technologies used for the organization's social media with individuals' personal accounts.

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How to Drive Strategies By Assessing Your Company Capabilities

N2Growth Blog

What segment of the market do they serve? By market segment? Liquidity: What will be the immediate impact of an unexpected market downturn or product launch failure? Every company has a set of capabilities that, when properly leveraged, can serve to devastate the competition. So, it’s essential for leadership teams to pinpoint and honestly assess these capabilities.

Making Sense of Speed, Agility and Innovation

Leading Blog

There’s agile marketing, introduced by thought leaders at CMG. But if you could create a framework in which each of these activities were a vital component leading to a completely new way to compete, then you’d see a significant impact on your revenues, profits and market share. Maneuver stands in opposition to existing “attrition” strategy, where firms fight expensive battles over small differences in market share based on essentially similar products.

7 Executive Coaching Types

CO2

In the past decade or so, coaching has become increasingly professional and leadership development is now the largest market segment. Life Coaching–This is a newer part of the coaching market, and does not have a significant corporate following either. This coaching segment has declined in recent years. ” Time-Management Coaching–Organizational and strategic coaching was an early specialization and continues to enjoy a steady market.

Seven great pointers for a successful company strategy

Bernd Geropp

Define which market segments you will operate in, and which are best avoided. Tweet. Tweet Photo: miskolin/ resource: www.bigstock.com. Strategy is the art of doing the right things at the right moment. Do you have a written company strategy? This is disastrous: Only if you know which direction you are headed can you decide what actions to take. Your company strategy defines the long-term direction of your company.

Influencers Wanted

Coaching Tip

The Internet has made it possible to also reach out to an almost limitless market, at any time, and usually for little cost. Engaging influencers ties closely with conventional concepts of market segmentation. . Making friends at the office has never been more rewarding. Armed with reams of new data, companies including giants Procter & Gamble Co. and Cisco Systems Inc.

The One GRAND Leadership Illusion That Sinks Organizations & Performance

The Empowered Buisness

It’s within your control to look for market segments or industries still in a growth mode. Leaders lie to themselves. And they don’t even realize it. . I know this statement may sound harsh at first. I ask you to hold your judgment until after you’ve finished the article to understand why. For example, when a company is stuck or has plateaued, I often hear reasons like …. Our company did not grow because of the economy. We need more knowledge or technology to beat our competition.

Think Rhythm: Put Thinking Time to Work

Coaching Tip

A common mistake is for companies to think about the market segments that they are in instead of understanding the person who really uses their products and services. "Time is what we want most, but what we use worst." William Penn. We are expected to accomplish a great deal in today''s 24/7 world. . Multitasking has become a byword for success these days. We scan the Internet while talking on the phone, then get interrupted by call-waiting.

Who are you?

Coaching Tip

As personalization becomes ubiquitous, the segmented profiles that advertisers, publishers and even presidential candidates use to define us may become more pervasive and significant than the identities we use to define ourselves. The stories we see on the Web, on TV and on our mobile devices could be pegged to the market segments in which advertisers have placed us.

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What Are The Six Disciplines?

Six Disciplines

In this discipline, we help you to systematically review and renew your mission, values, market segments, competitive position, strategic position, vision, and agreeing what to stop doing. The Six Disciplines Methodology is a synchronized, systematic approach for building your business. It puts together into a single integrated step-by-step process - the "master process" that most companies do haphazardly at best - or at worst, not at all.

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How to Make the Most Out of Joint Promotions

Strategy Driven

With the market being as competitive as it is today, relying on your marketing and promotions budget isn’t always enough. You may be able to reach a lot of potential customers through your marketing campaigns, but you are competing directly with other brands targeting the same market segments at the same time. Thanks to digital marketing, reaching potential customers directly is a lot easier than before. Marketing & Sales

M&A Without Buying the Company

N2Growth Blog

In today’s market you can buy anything from a single note to an entire portfolio of debt (both performing and non-performing) at deep discounts. While this is not a market that everyone should dive into, there is substantial opportunity for exceptional returns for the right buyer. . Markets : Whether you purchase distribution, licensing, or other contractual rights, you can enter into market segments, verticals, or geographies via intelligent acquisitions.

Urban Outfitters' Drinking T-Shirts for Teens - What Were They Thinking?

Building Personal Strength

The company seems to have a handle on what this market segment likes. But take a look at these back-to-school fashions for young women: Maybe since most teenagers are still searching for their identity, preferably a cool one, perhaps the marketing geniuses at Urban Outfitters figured that a lot of young women would want to send the message that they're heavy into really cool adult behavior, like drinking alcohol. Have you ever bought anything from Urban Outfitters?

Customized Company Culture

Steve Farber

Researchers with Deloitte , for instance, found that “ mission-driven ” companies typically are first or second in their market segment, have 30 percent higher levels of innovation, and have 40 percent higher retention levels. When you’re building a culture that matters, the mission matters.

Protecting Your Small Business: How to Cover the Basics

Strategy Driven

The market offers a lot of opportunities for small businesses to thrive at the moment. There are more chances to expand than ever before, despite many market uncertainties. You have the internet turning the world into one global market and allowing you to tap into more potential customers. As tempting as growing at an incredibly pace may be, your business will not survive market challenges when it doesn’t have the basics covered properly.

LeadershipNow 140: December 2015 Compilation

Leading Blog

You always want to be the market leader. If you can’t say that, shrink the market segment until you can. Here are a selection of tweets from December 2015 that you might have missed: Validate your beliefs by @scedmonds. The Founder of TOMS on Reimagining the Company’s Mission. Emotional Awareness by @RCKahn. Sometimes You Have to Look Back to Move Forward by @LollyDaskal. Leadership Beliefs: Are Yours Helping You Lead? by @KateNasser.

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What the Best Nonprofits Know About Strategy

Harvard Business

Customers: Segment them differently. While most for-profit companies start with product and then subsequently segment customers based on profit potential (higher lifetime value and lower acquisition costs), the most successful nonprofits commit first to reaching an underserved population, which often includes higher acquisition costs and lower lifetime value. Marketing: Forge aligned partnerships. When markets function optimally, for-profit companies can achieve great things.

Business Model Generation : Blog | Executive Coaching | CO2 Partners

CO2

These are: Customer Segments – An organization serves one or several customer segments. RSS Feed Schedule a Call Free E-Book Assessment Test Coffee Schedule Coaching Lunch About Us CO2 Story Our Approach Our Successes Our Executive Coaches Gary B.

How Leading Companies Build the Workforces They Need to Stay Ahead

Harvard Business

New innovations will change the basis of competition in many markets and alter the sources of advantage for most companies. In this world, insurance companies will require fewer actuaries and more data scientists — individuals with the ability to mine data to tailor insurance offers to specific market segments or even individuals. The strategic underpinnings of most companies’ workforce plans should change dramatically as a result of technological innovation.

What 40 Years of Research Reveals About the Difference Between Disruptive and Radical Innovation

Harvard Business

Entrants may target over-looked segments of the market with a product considered inferior by incumbent’s most-demanding customers and later move up-market as their product improves. Or, they may create markets where no market exists and turn non-consumers into consumers. To be disruptive, a business must first gain acceptance in the low end of the market, the segment by and large ignored by incumbents in lieu of more profitable high-end customers.

4 Things Your Innovation Efforts Shouldn’t Focus On

Harvard Business

Natura , a Brazilian cosmetics firm, produced a mother-baby product line that undercut Johnson & Johnson’s leading position in the baby market by linking Natura’s products with the Shantala method, a popular technique in Brazil for strengthening the bond between mother and infant through massage. Differentiation should be a prime motivator of any strategy; firms should always look to find an edge.

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Measuring Your Employees’ Invisible Forms of Influence

Harvard Business

For the go-to-market segment, representing employees in sales and marketing functions, we found that top performers spent an average of 25 hours in their email and calendar per week, nearly 14 hours a week in internal collaboration, and about 12 hours a week in external collaboration. Second, high-potential individuals in the go-to-market group spent 34% more time with product and engineering groups than the team average.

Advanced Analytics Are Crucial to Digital Transformation - SPONSOR CONTENT FROM DXC TECHNOLOGY

Harvard Business

Insurance carriers, which famously clung to decades-old legacy hardware and software, are wholeheartedly embracing analytics-driven systems to target profitable market segments, speed claims payments, reduce fraud, and increase the number and degree of fully automated processes. Organizations that thrive on change use data and analytics as a competitive asset.

How Mergers Change the Way Your Company Competes

Harvard Business

Traditionally, antitrust regulation has looked for whether a merger increased or decreased competition in a particular market. In the case of Baker Hughes and Halliburton’s planned merger a few years ago, the Justice Department detailed how it thought the amount of competition would rise or fall (mostly fall) in 30 market segments. Horizontal competition occurs when firms compete in the same market — this is the type of competition that comes to mind most often.

How an Analytics Mindset Changes Marketing Culture

Harvard Business

The most significant culture shift today for marketing teams is adopting an analytical marketing approach. The problem is that while marketers are thinking differently about their data, in many cases they’re not acting differently based on what the data is telling them. But if the technology to help us exists and is not price prohibitive, then why are most marketing teams lagging behind other functional areas in adopting an analytical mindset? HBR STAFF.

What Creativity in Marketing Looks Like Today

Harvard Business

What makes marketing creative? Is a creative marketer more artist or entrepreneur? Historically, the term “marketing creative” has been associated with the words and pictures that go into ad campaigns. But marketing, like other corporate functions, has become more complex and rigorous. Marketers need to master data analytics, customer experience, and product design. Do these changing roles require a new way of thinking about creativity in marketing?

How to Tell If You Should Trust Your Statistical Models

Harvard Business

Using predictive models of demand developed during growth years or for a price sensitive market segment may fail miserably when market conditions change. This makes predictive analytics by nature risky: they are valid as long as the reality they were developed in, the data describing a specific market during a specific time, is also valid. Predictive analytics often sounds a bit like quantum mechanics: fiendishly complex to look at and wildly counter-intuitive.

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How a Fast-Growing Startup Built Its Sales Team for Long-Term Success

Harvard Business

forecast accuracy, messages to relevant market segments, and other categories. Markets are different, strategies vary, and so specific practices will and should vary. Denver Post/Getty Images. It’s common for leaders of sales teams to focus almost exclusively on short-term tactics and current operations while failing to think and act in a way that supports the longer-term needs of their businesses — and it’s hard to fault them.

How a Fast-Growing Startup Built Its Sales Team for Long-Term Success

Harvard Business

forecast accuracy, messages to relevant market segments, and other categories. Markets are different, strategies vary, and so specific practices will and should vary. Denver Post/Getty Images. It’s common for leaders of sales teams to focus almost exclusively on short-term tactics and current operations while failing to think and act in a way that supports the longer-term needs of their businesses — and it’s hard to fault them.

GDPR and the End of the Internet’s Grand Bargain

Harvard Business

GDPR also bears more than a hint of the kind of protectionism that has featured prominently in EU technology policy since the 2015 release of the plan for a “Digital Single Market,” including recent announcements of new taxes for U.S.-based Apple’s success has proven that, at least for market segments of more-affluent consumers, the model can succeed fantastically, even in the age of the free internet. andrew nguyen/hbr staff/dan gold/unsplash.

Industry Analysis Is Dead. What's Next?

Harvard Business Review

Among the paradoxes they observe is that market segments in many industries are fragmenting, even as global firms require increasingly large markets to drive growth and profitability. One of the most widely held beliefs in strategy is that variations in performance can often be explained by what industry a company competes in. A lot of our most cherished tools — five-forces analysis, the BCG portfolio matrix, and even SWOT analysis — rest on this assumption.

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Why Google Fiber Is High-Speed Internet’s Most Successful Failure

Harvard Business

Google Fiber, as the effort was named, entered the access market intending to prove the business case for ultra-high-speed internet. In the Big Bang Disruption model, where innovations take off suddenly when markets are ready for them, Google Fiber could be seen as a failed early market experiment in gigabit internet access. Major markets were migrating to two segments — a high-end served by cable and a low-end served by DSL. PM Images/Getty Images.

Grow Your Business by Changing Habits

Harvard Business Review

These categories of products don't rely on focus groups because only visionaries can truly imagine their usefulness — they create entirely new habits and disrupt markets. And not every market segment needs to be invaded at the same time: iPhones and digital cameras certainly didn't work for every market segment right out of the gate. Consumer goods Marketing Product development

Companies Are Reimagining Business Processes with Algorithms

Harvard Business Review

Every update or response to the market required multiple steps; it cost time and performance. Sometimes, by the time changes were in place, the market had already moved. For example, nearly half of the companies are using machine reengineering for marketing products and services. But after machine-reengineering this process, the firm has access to up-to-date buyer behavior that lets them predict market segments with the biggest potential for growth.