Week 2
- The Consumer and Market Audit
- Market Segments
- Customer Behaviour
- Customer Attributes
- Test Your Knowledge
We just had our second lecture on advertising and branding, we learn't that when advertising yourself you firstly need to pick a Market segment and focus on one particular segment rather than target many different as 80% of the Business comes from 20% of the customers, or the 80:20 rule.
So we were given tasks to way out the rational reason is to why people buy things and irrational reasons, by doing this we had to come up with an advert which would be marketed to a certain audience.
The reason for this is people don't buy what you do, they buy why you do it.
This made me think of something rather funny i saw in Tescos' the other day when me and my flatmates done our usual one day a week night shop.
Clearly a mistake, but funny none the less!!
Tescos' advertising that Morrison's Cadburys sachets hot chocolate are cheaper than them!!
Wonder how many club card point's you get for spotting that mistake :).
Wonder how many club card point's you get for spotting that mistake :).
