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Marketing in the New Economy
Marketing in the New Economy

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... • Most producers use intermediaries or form a marketing channel • The marketing channel decision is directly related to all other marketing decisions (inter-related with the Marketing Mix) • Some organisations don’t prioritise their distribution channels while others focus on them to create a compet ...
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... the marketer uses this idea to inform, stimulate, and guide all of the elements of the marketing mix.” Marketing tip # 2; “The consumers decision to purchase a product or service is part of a journey of discovery that the consumer travels along. Sometimes it is as short as minutes when we buy on imp ...
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... Positioning is about the place a brand occupies in a market in the minds of the consumers. Strong brands have a clear, often unique position in a market. Positioning a product means that some people will not want the product, therefore, marketers have to be prepared to alienate some consumers. Marke ...
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... and efficiency metrics (doing – possibly the wrong – things well). For example, having a packed event is no good if it’s full of all the wrong people. ...
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Target audience

A target audience is the intended audience or readership of a publication, advertisement, or other message. In marketing and advertising, it is a specific group of people within the target market at which a product or the marketing message of a product is aimed (Kotler 2000). For example, if a company sells new diet programs for men with heart disease (target market), the communication may be aimed at those men but also perhaps at their spouses (target audience). Targeted marketing and targeted advertising strive for narrowcasting rather than broadcasting.A target audience can be formed of people of a certain age group, gender, marital status, etc., e.g. teenagers, females, single people, etc. A combination of factors, e.g. men aged 20–30 is a common target audience. Other groups, although not the main focus, may also be interested. Discovering the appropriate target market(s)and determining the target audience is one of the most important activities in marketing management (Niewenhuizen et al. 2000). Perhaps the biggest mistake it is possible to make in targeting is trying to reach everybody and ending up appealing to no-one.
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