By Torsten H. Nilson
This publication explores the more and more vital subject of brand name development in the one-to-one proposal. It explains the right way to in attaining what all retailers dream a few services or products custom-made for every person shopper that's either a superb worth for the buyer and a ecocnomic enterprise for the manufacturer. It makes use of useful instruments and case experiences to teach how an organization can optimize its model advertising assets.
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Extra resources for Customize the Brand: Make it more desirable and profitable
48 Customize the Brand As to segmentation in itself, the principle is simply that the cost of segmentation must be covered by increases in proﬁts that at least cover those costs. The sensible manager makes sure that the gain is considerably more than the segmentation cost to have a safety margin in case the sales increase will be less than forecasted. A key element of ensuring that costs are kept under control and the economies of scale are utilized is to make sure that the size of each segment is large enough to make customization worthwhile.
It can also be based on the consumption of certain products, like motor oil and car ownership or travel insurance and holidays. As will be illustrated in this chapter, just one segmentation criteria is rarely enough. We can all slip into suitable segments. We are all different, but not that different 41 THE RAW MATERIAL To be able to segment a market, it is necessary to possess the raw material. The raw material is usually data that describe the relationship between the segmentation criteria and individuals or, for business-to-business marketing, individuals and the company they are working for.
With the help of this channel, the company could reach up to 2 million new prospective customers. Two million became the Big Number leading to an innovative distribution strategy. The Big Number delivers focus. FROM BIG NUMBER TO BIG IDEA The Big Number is an excellent handle for a creative brief. It crystallizes the key issue and makes it easy to work with. A crucial part of the creative process is to ﬁnd the right focus. The Big Number delivers that. For one European food retailer, the Big Number was the number of ‘hard-up’ people shopping in the stores.
Customize the Brand: Make it more desirable and profitable by Torsten H. Nilson