Evolution of Entrepreneur – The Business Class
In this podcast I will talk about 2 fundamental marketing topics: positioning and marketing mix and their roles in crafting a brand.
If you frequent the mall before the pandemic, you may have observed Starbucks and Dunkin Donuts near each other. I always wonder how these 2 businesses that sell similar products: coffee, sandwiches and donuts, can be beside each other and thrive. We can also say the same for McDonald’s and Jollibee, Apple and Samsung.
Marketing gives us the answer; they both target a different set of customers and different targets mean different approaches. To arrive at your target, you need to segment the market. I will not be talking about market segmentation at length because I did that already in a 2 part series. Though if you will wait, I will give some tips later or if you want more details, you can check that out in the podcast list. So, here I will talk about what to do after you segment the market and choose a target market, that would be positioning and marketing mix, the keys to making people remember your brand. How? You’ll see. Continue to podcast