Understanding Target Markets to Promote Business

Molly Brackett, a graduate of the Guild for Structural Integration, received an advertising and marketing degree from Drake University. Her experience stems from working in the family business, a marketing and branding firm in Minneapolis, where she holds a project manager position. Her family has owned and operated over 75 businesses in the last 60 years. Molly is a Certified Massage Therapist and Structural Integration practitioner. Professionally, Molly divides her time between clients and her family?s business.
Author
Translator
Pages: 107-109
Year: 2010
IASI - International Association for Structural Integration

IASI Yearbook 2010

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Molly Brackett, a graduate of the Guild for Structural Integration, received an advertising and marketing degree from Drake University. Her experience stems from working in the family business, a marketing and branding firm in Minneapolis, where she holds a project manager position. Her family has owned and operated over 75 businesses in the last 60 years. Molly is a Certified Massage Therapist and Structural Integration practitioner. Professionally, Molly divides her time between clients and her family?s business.

We can all agree that a small business owner pours their heart and soul into their business. With the vigor needed to run a small business, business owners need to work smarter, not harder. Marketing is an ingredient that will provide efficiency. It can identify specific audiences who are interested in the business? product as well as how to reach the target markets through promotions.

Marketing is a broad word. The term ?marketing mix? has been coined to further understand the various meanings marketing references. The marketing mix is comprised of four terms: product, place, price, and promotion. Promotion is the largest variable in the equation for a Structural integration practitioner. The other elements are oftentimes in place per se, whereas changing the promotion will produce desired outcomes.
Here?s the breakdown of the marketing mix using Structural Integration as an example:

<div class=’indented’>Product: Structural Integration (SI)

Place: Office, Wellness Center, or School

Price: Varies between geography, demographics, and practitioner

Promotion: An incentive designed to stimulate a purchase or sale                of a product</div>

Before a business can begin to promote itself, it must define its target market. A target market is a segment of a population (a piece of the pie) with specific demographics, geographics, and psychographics – gender, age, race, socioeconomic status, occupation, religion, marital status, sexual orientation, interests, activities, morals, ethics, etc. By characterizing segments of the population as target markets, a business can understand who is consuming their product or service.

One might say every body is a viable candidate for structural integration. That is an expansive market. However, each practitioner does not need to reach all those people. Break down the total market and find sectors that seek Structural Integration. Are these people who have conditions with chronic pain? An old or new injury? A physically laborious job?

Another way to find target markets is to analyze the segments of the population who currently receive Structural Integration. Are they athletes, yogis, CEO?s, lawyers, teachers, office assistants, children, etc.? Additionally, which of these segments would compose an ideal Structural Integration practice? Who is it that you want to work with? By understanding why people use Structural Integration, and by understanding the individuals who are interested in the service, a practitioner can design a marketing campaign to promote their practice.

Consumers choose to purchase products and services based upon low involvement and high involvement decision-making. Decision-making is based upon who, what, when, where, how, and why consumers buy or do not buy products or services. Here are the definitions of low involvement and high involvement products:

<div class=’indented’><i>Low involvement products?products that are purchased frequently and with a minimum of thought and effort because they are not of vital concern nor have any great impact on the consumer’s lifestyle.

High involvement products?products for which the buyer is prepared to spend considerable time and effort in searching. 1</i></div>

For example, a low involvement decision for a consumer is the difference between a box of strawberries for $3.99 or the organic strawberries for $6.99? The basis for the consumer buying the organic strawberries is different than the consumer who buys the in-organic carton of strawberries. What are the contributing factors? Is it $3.00 cost difference? The color or texture comparison? Health benefits? Local farm versus corporate farm produce?

Structural Integration is a high involvement decision. A consumer is <i>?prepared to spend considerable time and effort in searching?</i> as well as financial resources. This means that practitioners should be armed with educational materials, websites, and/or answers to questions about the Structural Integration process, especially if the consumer is going to be spending anywhere between $800-$2000 for the 10-series. Consumers are shopping for their health care, what information would an individual need in order to make this important decision?

Oftentimes, high involvement purchases are intangible products. SI is an intangible product, which makes the decision making process more involved than it would be for a tangible product. A target market responds differently when purchasing intangible products or services versus tangible products, because it takes more personal time for the consumer to make a decision?it is not simply a quick decision in the grocery store.

Here is one example of a target market including demographic, geographic, and psychographic analysis: single Caucasian, homosexual male who is a vice president of information systems department at a locally owned bank in Des Moines, Iowa making $120K per year plus annual bonus. He attends graduate school in the evenings and drives an Audi A4. This single male owns a brownstone condo in downtown Des Moines on the river. He works out 5x a week at a trendy gym receiving four personal training sessions per month and is training for his first triathlon. He shops at a local co-op providing organic foods?he?s concerned about nutrition and likes to support local farming.
He?s a registered Democrat who frequents upscale dinners and fundraisers with an upper class community to network professionally and have the appropriate image in society. On the weekend, he enjoys shopping, reading, cooking, and watching movies.

What can be inferred from this information? We have an understanding of where this gentleman lives, works, and frequents, political views, and how he spends discretionary income. What does this mean to a small business owner? This information determines where and how one can market to this potential client. He manages an information systems department implying he?s computer and technology savvy. Perhaps this market segment would respond to a website promotion or scheduling an appointment online.

The market segment travels from downtown to the suburbs to go to work. He stops at the coffee shop down the street from work and is interested in community events. A Structural Integration practitioner can post a flyer on the community bulletin board. This sector of the market also exercises at a small, locally owned gym. A practitioner could give free monthly demonstrations at the gym. Pass out business cards, brochures, and informational articles.

Passing information from person to person is the number one way to receive business?and the ultimate complement when referrals come in! Research indicates that homosexual males and females spend a higher amount of discretionary income and frequently socialize with friends and family. Due to the high level of socialization and communication within this target market, word of mouth becomes a way to promote your business. Start a referral program with clients. ?Receive $25.00 off for each client referred.?

The promotional examples given in this article have primarily been free. However, if small business owners have a marketing budget, promotions can be an annual tax write-off. Here are a few more ideas that can help promote a structural integration practice:

<div class=’indented’>?  Bottles of water that have the business name and logo printed on the label. Pass out to clients post-treatment. This leaves an impression on the client because a business was willing to spend money for the client?s comfort. It also exposes the client to the logo and brand name, again reinforcing your brand identity.

?  Join the chamber of commerce, local business district association, or networking group.

?  Annual promotions: send a calendar and sharpie pen for clients to use in their office or home, imprinted with the business name and logo.

?  Send a hand-written card for a birthday, anniversary, birth of a child, etc. and a special offer.

?  Literature left strategically in doctor?s offices, wellness centers, and other professional waiting rooms, including informational articles about the business, the intent of structural integration, brochures, and business cards.</div>

There are countless ways to promote a business, but businesses have to strategically segment, target, and position their brand in order to successfully promote their products and services. With no set recipe to follow, changing some of the marketing ingredients to your Structural Integration business can provide variety from year to year. One way you might refresh your business is to shift your marketing focus toward a new target segment of the population. However, two ingredients that should always remain consistent are passion and heart?those are key ingredients to making any recipe a success!

Notes

1 ?Low involvement products,? ?High involvement products,? definitions from Bradmore, D. Marketing Dictionary, Monash University, Dept. of Marketing, 2009. (Retrieved January 12, 2010 from: <a href=’http://www.buseco.monash.edu.au/mkt/dictionary/lll.html’ target=’_blank’>http://www.buseco.monash.edu.au/mkt/dictionary/lll.html</a>)

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