Organizations exist for one purpose – to meet human needs.
Defining your target customer
A brand’s success depends on its ability to focus. Businesses often focus on specific customers and narrow their focus to a niche.
So how do we identify your brands’ targeted customers?
- They are satisfied with the brand.
- They may choose your brand.
- They will admire your brand.
- They offer a high customer lifetime worth.
Your business must identify and understand these attributes in order to be successful.
- Lifestyle traits
- Hopes and Aspirations
- Behaviour of product purchases
- Behavioural patterns in product usage
A brand cannot be everything to everyone in a category of products or services. This is why we segment
A brand or sub-brand should be focused on the best customer segment it can serve. The brand or sub-brand becomes an expert provider for that customer segment’s products and services.
Tips to serve your audience better
- Concentrate on one customer group.
- Get to know the group.
- Try to satisfy more members of the group.
- Collaborate with the group to create products and services.
- Symbolize the values of that group.
Understanding your customer is an ongoing process.
- Continue to conduct customer research.
- Conduct customer satisfaction surveys.
- Monitor and maintain customer service/support channels.
- Managers and executives can participate in customer service calls and sales calls.
Defining the market
To effectively address the needs of different customer segments, market segmentation is often necessary. Different segments will be able to value different aspects of your product, service, or brand ecosystem in a different way.
- Its growth rate and overall size.
- Its price sensitive.
- Its most important and least important benefits.
- What is the quality of its service?
- It is so loyal!
- It is easy to find?
- Distribution methods that are preferred
- Replacement rates and product usage.
- How it is used.
How do you segment a market in different ways?
Purchase behavior segmentation
- Loyalty to a brand
Next let’s look at the components that go into brand design.
Designing the brand