Saturday, September 06, 2008

Knowing your target market & decision-maker

Over the past two weeks, we've been going over STP (segment-target-position) as part of the overview for Basic Marketing. Related to knowing your target market - and just as importantly - the decision-maker (which is not the same thing), there was a clever post on the New York Times "For the Moment Blog" last week regarding ads for men's underwear. The guest blogger (Grant Thatcher) made the observation, regarding pictures of good-looking men in underwear ads in Milan: 
Do Milanese men have a preternatural desire to look at muscular, seminaked men? Well, of course in some cases, yes, but the canny luxury labels are well aware that the men’s knit underwear industry is worth a staggering $1.1 billion — and even more interestingly, the majority of these briefs are actually bought for men by women. Ding! Now you wonder what’s with all the muscle dudes. … Go figure.
Very funny! And, to the point, although men are the target market for men's underwear - it's either women (or gay men) who are typically making the purchase decision. (OK, to be clear, I mean "or gay men buying underwear for themselves," I think.) So they're the ones you need to target with promotions if you're selling men's underwear. And, apparently, it's also somewhat aspirational for most purchasers, since they think their beau will look as hot in the underwear as David Beckham, etc. 

And lest any guys think this is a bad example, let's just try putting the underwear on the other....well, you know what I mean..... Who do you think spends more time looking at Victoria's Secret catalogs - men or women? How many men buy have bought "items" from Victoria's Secret for their wives/girlfriends as a "gift." (A gift for whom, is all I can think.) 

And of course, taking it all away from sex (or, more precisely, talking about the consequences of all that undergarment inspired sex), even though little kids are the target market for all-things-Sponge Bob, it's Mom or Dad who's the decision maker and ultimate purchaser. 

Anyway, the bottom line is: know your target market - and who the decision maker is. And you should never pick a target market without knowing who the decision maker is, otherwise, you might not have a much of a market at all. 

And with that, I've just got to post this video from AussieBum. It's the same video Grant posted on his NYT's blog. The music is "Would you...?"  from Touch and Go and is downloadable from iTunes. (Yea, I really like the song....):




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