IT’S NOT ABOUT A “TOTAL MARKET” STRATEGY. IT’S ABOUT A “TOTAL MARKET-COMPETENT” ORGANIZATION

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Much talk has surfaced lately about the whether it makes sense to have a total market strategy. Some contend that the intent of a “total market” strategy—to recognize all potential consumers’ needs, culture and behavioral characteristics within a company’s marketing strategy—is too often misunderstood or not understood at all. This assertion has resulted in approaches that homogenize how organizations communicate with consumers, and it underemphasizes and even ignores cultural nuances that work to powerfully connect consumers and brands.

This is occurring, in part, as a result of agency work consolidation. Marketers are naively taking work from specialty agencies with the required market expertise, and under the guise of a “total market” strategy, are re-assigning the work to general market agencies who are as naïve and even indifferent to the country’s diverse cultural differences as their clients.

I contend that the problem is based on two dynamics: 1) Said marketers lack understanding of consumer differences. Intuitively, I find this problem very hard to believe, as knowing one’s consumer and leveraging the right tools and resources to do so is at the heart of being an effective marketer. 2) Said marketers are looking for ways to make their jobs easier by streamlining processes, vendors and budgets. But one has to ask, at what cost?

To learn the rest of this story*, read the latest issue of BIG Times Magazine at www.biginsusa.com. *Authored by By Terry J. Soto, Author and President & CEO, About Marketing Solutions, Inc.