Generate a Fitting Marketing Strategy for the Acquisition of These Target Groups: Marketing Report, SMU, Singapore

Target group

Mention what target groups are in general.

The target groups were adopted by the company my back because Target groups do not need to be defined by age only

Ø Lifestyle, emotions, and needs should be taken into account

For these reasons, we have improved the target groups of the company

the main focus of this paper is on “Young Professionals”

The improved target groups are:

Students/Trainees (18-24)

(Border adaptive, pragmatic, and expedition milieu)

Young Professionals (25-35)

(Performers and Liberal Intellectuals)

Middle Age (36-59)

(Border middle class and conservatively established)

Seniors (60+)

(Traditional milieu)

With the help of the Empathy Map, the Sinus Milieus, a survey, Customer Profile, Value Map and Value Proposition Canvas, personas were developed.

Promotion of Marketing Mix

• A small paragraph in general what promotion is
• Why focus on Social Media-> Awareness, Funnelsystem, Conversion
• Through the survey of the company my back and an own survey+scientific research it could be determined that social media has been the most important tool for generating new customers for the company my back, furthermore, it can be said from the results of the own survey that social media is used in all target groups.
• reference to Price and Place-> the two points are not enough, therefore the additional promotion
• Julia Meier (Persona Young Professional) should not only be addressed via discounts, but her affinity for social media should also be used.
• Thus, Facebook, Instagram, YouTube and LinkedIn will be addressed in this section.

Social Media Advertising – Facebook

• Explain the channel and how to advertise on the channel in general.
• mention that Facebook is used by all improved audiences, but the recommendation is only for the “young professionals”

Recommendations for the company mybacs

Research is still needed

• Possibility 1 would be e.g. after analyzing the Facebook page has surely revealed that more regular posts should appear on the page because…
• Possibility 2 it should be set more on video marketing with Facebook

(Example could be mentioned that a young professional like Julia Meier has done an antibiotic treatment and with the help of the mybacs product improves the intestinal flora and the general immune system. This could possibly generate new customers who have the same problem. Cost of advertising

Empathy Map

In order to generate a fitting marketing strategy for the acquisition of these Target groups, it is important to understand the specific customer needs. After the redefinition of Mybacs Target Groups, it was concluded that the differentiation of the customers just due to their age is not effective enough. In order to increase the effectiveness and gain a deeper knowledge of the general needs of each customer segment, an empathy map was created for each of the four Target groups. Cf (Appendix).

The Empathy Map is a strategic method developed by the visual thinking company “XPLANE” that can be used to describe the real needs, values, pains, and goals of a specific customer segment. Cf. (Conte, Ferreira, Oliveira, & Silva, 2015). It is used to create empathy and gives a full understatement for each customer base.

The Empathy map not only gives a deep dive into the motivations and principles of every target group but also explains from their point of view how they are functioning and why they are acting the way they do. Cf. (Schmidt, 2019) The goal is to look beyond demographic characteristics in order to develop a better understanding of the environmental aspects and aspirations of each customer. It enables companies to put themselves in customers’ shoes and provides direction for shaping customer relationships. Cf. (Osterwalder & Yves, Business Model Generation, 2010).