Segmentation is making headlines. The journalistic reprise of some inelegant remarks by Abercrombie & Fitch’s CEO and the eruption of a scandal involving IRS scrutiny of conservative non-profit groups have come together at the same moment to put the spotlight on targeting, which, of course, is what segmentation is all about.
What a brand really represents is what consumers think it represents. Well-intentioned brand managers can take actions they think are strategically appropriate, but if these messages are not believed or accepted by the consumers, they can severely maim the brand. Netflix learned this the hard way.
The worst data miscalculation in brand marketing is also the easiest to fix, even though it requires a new way of looking at market opportunities for brands.
Focus groups have been the go-to method many marketers employ to gain insight on how certain people think, feel and behave. In our social media connected world, are focus groups an effective forum for driving creativity and innovation in brand development and marketing?
No one will dispute the fact that information about consumer trends, attitudes and behaviors is necessary and useful to gain insight on determining the basis of planning marketing tactics. Like a sharp knife, data is both useful and dangerous.
