Sunday, November 28, 2010

Marketing evaluation

My sister had gone to a course about on line marketing. From the sounds of it she didn't get as much as she wanted to out of it. I had talked to her about it before as I am making all these amazing discoveries! And have found that marketing has some good grounding in science. For those that know I have a degree in Chemistry and was surprisingly close to going for a 2nd degree in marketing.
Hypothesis: My product will suit this ____ crowd. Women who live in dry climates usually buy creams and lotions. Alberta is pretty dry so market to women between 25-40 who want to buy a lotion they don't need to keep re-applying
Problem: How will I get my good quality product to the women of Alberta?
Experimental Design: The design you choose will depend on where your strengths in marketing are and what you want to achieve. For example:  Join meetup groups that are mostly women and remained active in them for about three months. All the women in the groups were suspects, those that were interested in trying a sample were bumped up to be classified as prospects and those that LOVED the product and told their friends were further bumped up to be classed as champions.
Results: Though cost effective, the women in these groups couldn't fully understand the benefit of the product as they were more interested in the theme of the meetup rather than my attempts to solve their dry skin problems.
Discussion: A variety of meetup groups that had over 50% women membership, but most of these turned out to be full of suspects, but low on prospects forget champions. Being more specific about the target market may yield more qualified results.
Conclusion: Look for an added feature of the product that can narrow the target market down. Adding essential oils may interest holistic therapists.

Of course it doesn't have to be as detailed as this, but it's quick and dirty peak at what's working for your company and where you need to make changes.

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