Each Australia Day is an opportunity to reflect upon the numerous features of this wonderful country that make us all so lucky to call Australia our home. In between your lamb chops and cold ones around the BBQ you may choose to reflect upon your marketing plans and decisions. On the off-chance that this is the case I have summarised 5 elements for you to reflect upon in the context of the ever-changing face of Australia.
5 Things to Reflect Upon as Australia Changes
There are numerous factors that are changing within the Australian marketplace. All of them impact on our customers, their purchasing decision-making process and their ultimate purchasing behaviours. Business Customers and Consumer Customers are all impacted in different ways.
It is important that you understand the impact that these changes and developments are having in the Australian marketplace. In particular, the impact these changes are having on your Primary and Secondary Target Markets.
The following are 5 elements for you to consider on Australia Day in the context of the changes that are occurring each year and how that impacts on your marketplace:
- Your Marketing Objectives
- Your Most Profitable Target Markets
- Your Desired Brand Positioning
- Your Key Communication Messages
- Your Marketing Execution and Choice of Marketing Tools
1. Your Marketing Objectives
If you are going use Australia Day as a catalyst to take a step back and give consideration to your overall marketing and marketplace it will be worthwhile to review your key marketing objectives.
Ensuring you have relevant and current targets in place for your business, sales, profits and marketing activities can only help you be more successful.
Changes that you observe in the Australian marketplace may prompt you to adjust your targets and objectives.
2. Your Most Profitable Target Markets
A really important outcome from any marketing and marketplace review is to define the most profitable customer groups in the context of your business, brands and resources. The ever-changing face of the Australian marketplace and our demographics and customer behaviours may result in the need for changes in your selection of Target Markets.
Whatever, the outcome of your Australia Day review and reflection the selection of your Primary and Secondary Target Markets is one of the most important marketing decisions that you make.
My previous article Target Market Selection: 2014 Marketing Summer School (Part 2) will provide you with some suggestions for addressing the selection of your Primary and Secondary Target Markets.
3. Your Desired Brand Positioning
The changes that you observe in your own marketplace may highlight to you that you are still focussing on the right (i.e. most profitable) Target Markets. However, you may have concluded that the specific needs of your Primary and Secondary Target Markets have changed.
If this is the case then it is critical that you complete an analysis of the needs of your most important customer groups.
Equipped with the outcomes of your Customer Needs Analysis you will be in an informed position to adjust and better define your Desired Brand Positioning.
The Baker Marketing: 2014 Marketing Summer School (Part 3) will provide you with guidelines for defining your Desired Brand Positioning.
4. Your Key Communication Messages
Your Australia Day reflection may have uncovered changes in items No.1 to No.3 above. If this is the case then there is an excellent chance that there is scope for you adjust and improve your Key Communication Messages.
The outcomes of your Customer Needs Analysis should be used in forming the platform for developing 100% your Key Communication Messages.
The Baker Marketing: 2014 Marketing Summer School (Part 6) will provide you with an approach to developing your Key Communication Messages.
5. Your Marketing Execution and Choice of Marketing Tools
Your Australia Day reflection may have identified trends in how Australian consumers search for and purchase products and services and consume media and marketing messages.
The combination of all of the shifts and changes that you identify may give you cause to review your overall execution of marketing activity.
Defining a 12 to 24-month schedule of marketing activity is a good way of selecting the most powerful marketing tools and activities in the context of your budget and resource limitations.
My previous articles The Baker Marketing: 2014 Marketing Summer School (Part 8) and (Part 9) will provide you with suggestions for defining the most powerful 12 to 24-month schedule of marketing activity for your brand and business.
Happy Australia Day!
We live in a wonderful and exciting country and one in which our population (consumers) are also exciting and constantly changing. I wish you all a very enjoyable Australia Day and celebrations whether you are relaxing and reflecting or just relaxing.