Marketing Homework - Megawriter - 3

Marketing in Kentucky

Marketing in Kentucky

Matthew Lee Cook

American InterContinental University

Abstract

Using the small business I analyzed in Unit 1, Trophy Awards Manufacturing, based out of Highland Heights, Kentucky, we will take a look at three different marketing and promotional approaches to three different target markets. These different target markets will be in the form of teens to early twenties, mid-twenties to forty, and forty and over. Each target market will carry a different significance when it comes to the marketing approaches and each will also call for a much different promotional strategy on the smallest, to the largest, level. All of those similarities and differences are discussed here.

Trophy Awards

Trophy Awards Manufacturing is a medium sized, family owned, business based out of Highland Heights, Kentucky. Their product line ranges from trophies, to awards/recognition pieces, to apparel, to banners and signage…all of which call for very different marketing strategies and pricing. On a daily basis, Trophy Awards deals with different target markets needing different types of items and projects completed, but no project goes undone. This is a one-stop shop for all things recognition.

When it comes to recognition and awards, Trophy Awards must be aware that there are many different demographics that will walk into their shop at any moment. You have young children coming to pick up trophies for their basketball tournaments, middle aged males and females who may be coming in to pick up awards and plaques for their employees at work, and there may be high school parents/boosters that are coming in to pick up spirit wear/team apparel for their children. This is a busy work place that delivers many different products, but within that delivery Trophy Awards must understand that each sale is different, each person is different, and thus each target market is different. The three main target markets that Trophy Awards has to worry about are teens to early twenties, mid-twenties to forty, and forty and over. Each having their own sets of needs and desires, while also having their different ways of communication.

The hardest part for a marketing professional to understand is their target market. Once you have successfully defined your target market, it becomes much easier to delineate how you will promote your products to them. Sourabh Sharma wrote in her May 29th article, Marketing Moves for Age Demographics, “Marketing to different age groups is a consequence of an evolving society, so brands also need to evolve their strategies and demographic breakdowns instead of relying on tired stereotypes…Older consumers tend to be more receptive to messages about preventing negative events, while younger consumers don’t want to be reminded of the negatives they are yet to face.” (Sourabh Sharma and Scott Garrison. 2014) Each market has a different mindset, thus driving your different strategy.

Part 1: Demographic Research

As stated above, each market has a different mindset, thus driving your different strategy. In essence, each demographic requires different sales and promotion techniques to truly establish brand awareness and drive growth.

For Trophy Awards, marketing to the youngest generation is easiest. In their regard, a great SEO and SEM plan is precisely all you need. The teenager to early twenties demographic is internet and smart phone driven. Having easily accessed information at their fingertips is what’s desired when deciding which company to use. When Trophy Awards is attempting to decide the best place to spend their money in regards to promotions for this age group, sticking with Google AdWords and social media ad placement will be the ticket to success. In an article about marketing to millennials from Entrepreneur magazine, the author states that “individuals ages 18 to 36 spend an average of 17.8 hours a day with different types of media.” (Taylor, Kate. 2015) Wow, 17.8 out of 24 hours a day are spent by this age group consistently consuming different types of entertainment via media. That means that if your ads are placed properly and your name is the highest on the list when Google searched, you are able to access your target individual more than 2/3 of their entire day. That’s outstanding!

In the marketing world, something is considered a good marketing piece when it is seen frequently and drives the individual to consider your company when making a purchase…simply getting your name out there. In this case, the author of this article is implying that you have the ability to reach your target market effectively for almost their entire day in which they are awake. For the target age market of teens to early twenties, it is easy to say that the number one way to reach this target market is through a proper SEO and SEM plan.

Our second target market to consider is mid-twenties through to forty years old. This is also very similar to the aforementioned target market, in which they are very easy to reach via social media. Unfortunately, in this case, most of these people have begun to mature quite a bit and are not as impulsive as the younger generation when it comes to making purchases. Wherein social media, Google AdWords, and a great SEO/SEM plan are good for this target market, there is something that works a little bit better. Radio.

Trophy Awards needs to exploit the fact that this age group of mid-twenties through forty years old is trying to make it in the work world and generally has some sort of commute to and from work in which they are listening to the radio. According to News Generation, “Radio today reaches more than 90 percent of people in the U.S. on a weekly basis.” (News Generation, 2015) Meaning, that on a weekly basis, Radio is reach more than 236 million people consistently.

This group of people that are driving on their way to work, driving on their way to children’s sports matches, driving on the way to activities and clubs are listening to the radio all the time. These statistics are very hard to ignore if you are Trophy Awards. As stated before, it is a very good idea to continue to promote a great social media promotion and be consistent in your SEO/SEM, you cannot ignore the vast majority of this age group that are consistently listening to radio. A few strategically placed commercials that are intent on making sure your target market knows they can purchase trophies, plaques, and recognition pieces from Trophy Awards at any time is marketing at its finest.

Some young, motivated, new employee may have forgotten that they were supposed to get a plaque for their boss’ retirement. Hearing your commercial on the way home from work the night before the ceremony is perfect because now they know where they can call to get something made in time for an early morning pick up. Had that marketing piece not been there, your target customer may have missed the cue and spent too much time trying to find somewhere nearby online.

In another example, a young soccer mom is on her way to her yearly pre-season team meeting and has forgotten to get a quote together on jerseys, banners, and soccer balls with the team’s logo. One second she is completely irate because she forgot to do this simple task and the next minute Trophy Awards is saving her because they are playing a commercial at just the right point. She makes one phone call to a very attentive customer service representative who then gladly emails her a quote, which she then has on her phone and is able to present at the meeting.

It’s these types of marketing chances and promotion opportunities that really lay the ground-work for new ales with this age group. Although, social media and Google AdWords are fantastic across the board, this age group truly responds to radio and quick service.

For our last demographic segment, we are considering forty year olds and over. This is the hardest group to market to when it comes to anything. They are smart. They are savvy. They are not easily given to bait and switch-type marketing campagins, and they tend to have quite a bit of brand allegiance once they have found a company or brand they prefer. This is also one of the most fun age groups to market to for that reason, it’s a challenge.

“The biggest mistake that businesses make is in believing that there is something different about older people…research by direct marketing agency Millennium in 2008 found that 55% of over-50’s believe that advertising treats them in a patronizing manner.” (Marketing Donut, 2015) Patronizing your customer is the last thing that you want to every do, but you also have to realize that this customer group is very smart and will pick apart false advertising in a heartbeat. For the over-40’s age group, Trophy Awards truly needs to focus on all facets of marketing and promotion and ensure that they do not allow this group to slip away. Many people see this group as such a difficult group to market to, when in reality you must just stay vigilant.

Trophy Awards must stay down-to-earth with their advertising, have promotions that attract the fiscally conservative, and ensure that they carry a product line that is classy enough to entice this older generation to purchase their awards, plaques, and apparel from them. Continue your good SEO/SEM, keep at your radio broadcasts and promotional pieces, but above all…do not patronize the older crowd and ensure that you have a product line that suits their needs and desires.

Part 2: Sales Promotion Rationale

By day, I am a cold-call salesman and by night I am studying through school to become a marketing professional. In all reality, the both of them are very similar and hold many different, yet similar truths. You must always treat your customer with respect, have a great knowledge of your product, and continue to sell your product even after the product is sold. But each different segment discussed above does continue to draw different marketing and promotional techniques at all times. It is imperative to remember that your target market makes their first impression of your company off of your promotion/marketing pieces and your sales representatives. In order to secure any business, these must all be on point, but you must always keep in mind the demographic differences.

For example, if I were a customer service representative at Trophy Awards, I would never attempt to sell an idea for a Men’s Over-40 softball league uniform that has glittery letting all over it. They would be completely turned off by this notion and would immediately turn to a different vendor. Knowing this market, I would attempt to suggest a product that is well known for its comfort, style, and may even compare it to the customer’s favorite sports team’s jerseys. Anything to make a connection with the customer and not drive them away with a product that would never be welcomed by that demographic.

Always remember your demographic and always remember the proper way to approach each one when it comes to sales and promotions.

References

1. Sourabh Sharma and Scott Garrison. Marketing Moves for Age Demographics. (2014) Retrieved from http://www.gcimagazine.com/business/marketing/Marketing-Moves-for-Age-Demographics-261156551.htmln

2. Taylor, Kate. Millennials Spend 18 Hours a Day Consuming Media. (2015) Retrieved from http://www.entrepreneur.com/article/232062

3. Radio Facts and Figures. News Generation (2015). Retrieved from http://www.newsgeneration.com/broadcast-resources/radio-facts-and-figures/

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