Knowing how to run a brand or company includes many aspects that can sometimes seem overwhelming. Market Research is a first line ally that allows decision planning with the least possible risk. However, there are some basic questions that are sometimes ignored because it is believed that the answer is known for sure and in depth within the organizations. We are talking about the target consumer.
And it is that many of the brand activities of a company depend on this parameter. There are few products or services that are universal and are consumed by the market in general. The reality today is that each good offered by companies has a particular niche. If the profile of this consumer is unknown, communication, price and logistics errors can be made; to mention just a few of the most common.
The definition of the target consumer can occur at different times in the life of a brand. Best practices recommend having it established before launching something on the market, since in this way advertising campaigns, price ranges and other aspects can be designed based on it. Otherwise, you can always use a market study to identify the characteristics of who consumes what is offered.
An exercise that allows us to evaluate the degree of knowledge of the person or persons who consume our offer is to describe it in as much detail as possible. This description includes all the attributes of a common person: gender, age, socioeconomic level, employment, personality, family structure, type of home in which they reside, consumption habits, hobbies, among others. The more detailed the description, the better the degree of knowledge of the target consumer. The second phase of the evaluation is about whether this description matches reality.
The more detailed the characterization of our target consumer is established, the clearer the tasks within a brand will be. It is not the same to satisfy the demands of female adolescents who study high school and who belong to a high level than it is to satisfy middle-class men between the ages of 30 and 50 who have a fixed-hour job. The needs and aspirations of each segment are very specific and all marketing work will be based on their profiles.
There are many ways to approach this case study from Market Research. From the quantitative approach, a survey can be applied at the point of influx to detect patterns of profiles that regularly consume the product or service in question. Once these profiles have been identified, focus groups or in-depth interviews can be applied to investigate the factors that escape quantitative research. In the end, the analysis design will depend on the category and brand that seeks to meet its target market.
At Acertiva we have almost two decades of experience knowing the Latin American consumer. If in your brand they seek to identify the segment to which they focus their efforts or want to corroborate it, count on us as your potential regional allies in LATAM. Write us today.