Example of Micromarketing Examples of companies that have run successful micromarketing campaigns include Procter & Gamble (PG) and Uber. When P&G was introducing its Pantene Relaxed & Natural shampoo and conditioner product line, it created and ran a unique marketing campaign to target African American women.
Micro refers to anything that is small in scale or scope, whereas macro refers to large in scale or scope. Hence, micro marketing is focused on individual steps that are part of an overall process, whereas macro marketing considers this same process in a holistic manner.
Let’s start close to where micromarketing already directs us: social media campaigns. They are typically cheaper to operate than larger campaigns, can be geographically based (as well as any other number of defining variables) and keep customers aware and engaged with your brand.
Micromarketing is a marketing strategy in which marketing and/or advertising efforts are focused on a small group of tightly targeted consumers. For example, markets can be grouped into narrow clusters based on commitment to a product class or readiness to purchase a given brand.
The three activities of a successful targeting strategy that allows you to accomplish this are segmentation , targeting and positioning , typically referred to as STP.
A niche market is a segment of a larger market that can be defined by its own unique needs, preferences, or identity that makes it different from the market at large. For example, within the market for women’s shoes are many different segments or niches .
Simply put, micro refers to small things and macro refers to big things. Each of these terms appears in a wide variety of contexts and refers to a vast number of concepts, but if you remember this simple rule, you will generally be able to remember which is which.
The Macro Environment consists of 6 different forces . These are: Demographic, Economic, Political, Ecological, Socio-Cultural, and Technological forces . This can easily be remembered: the DESTEP model, also called DEPEST model, helps to consider the different factors of the Macro Environment .
A macro environment is the condition that exists in the economy as a whole, rather than in a particular sector or region. In general, the macro environment includes trends in the gross domestic product (GDP), inflation, employment, spending, and monetary and fiscal policy. 6 дней назад
Micromarketing is highly targeted, as it tends to target a specific segment of the population. Micromarketing helps in saving costs, as it narrows down the population you target. Small micro -budgets are assigned for this type of marketing , and overall, it reduces the marketing expenses for a company.
Customer-driven marketing strategy includes selecting the right customers to serve and deciding upon a unique value proposition. Segmentation, targeting, differentiation , and positioning are four distinct steps that should be included in customer-driven marketing.
A niche market is a subset of a larger market with its own unique characteristics, preferences, and needs. Niche marketing targets one or more segments identified within the larger market . Micro – marketing takes things even further by targeting a specific group or individual within a niche market .
A political campaign is an organized effort which seeks to influence the decision making progress within a specific group. In democracies, political campaigns often refer to electoral campaigns, by which representatives are chosen or referendums are decided.
An organization that adopts a concentration strategy chooses to focus its marketing efforts on only one very defined and specific market segment. Accordingly, only one marketing mix is developed. For example, the manufacturer of Rolex watches has chosen to concentrate on the luxury segment of the watch market .