Identify the perfect franchise for you! Take our short quiz Take our free franchise quiz!
Identify the perfect franchise for you! Take our short quiz Take our free franchise quiz!
Identify the perfect franchise for you! Take our short quiz Take our free franchise quiz!

How to Triple The American Market…Through Marketing Savvy

What would you say if I could tell you how to turn the 326 million (population) Americans into 978 million – to which you would have the opportunity to market your product/services?

And, in this coveted market, you would not have to consider changes in anything – not even per capita spending – to permeate this consumer driven American society.

I believe I can convince you that there is a thrice-expanded market out there, ready for your innovative ideas.  It is just waiting for creative concepts from today’s marketers to capture it and make it work for them.

Where are the two-thirds “extra” people coming from?  We must consider “personalities” rather than “heads.” As in the “Three Faces of Eve,” each of us are three different people – one person at work, another with our friends, and the third at home with our family.

These multiple personalities create multiple opportunities for marketers.  When seized, these produce such sales explosions and line extensions as those experienced by what was once simply called the tennis shoe market.  There are now all kinds of specialty “sneakers” – for jogging, running, walking, basketball, tennis, cross-training and more.

Over the back fence, after mowing the lawn on Saturday, one might have a Becks beer with a neighbor.  Come Saturday night, at the bowling alley with the team from work, he might order a Bud.  And on Sunday, while watching the game on TV, he grabs a Miller Lite from the refrigerator.

What this tells us is that brand preference is determined as much by situations as by demographics.  The average individual is more sensitive to what he may want in any given environment 00 he is not less loyal – just more loyal under a particular circumstance.

Complacency has no place in marketing.  When you’ve identified your audience as to demographics, psychographics (who buys) and product benefits (why they buy) – it’s not time to sit back and watch what happens.  Then it’s time to evaluate the situation – or the “how” the product is enjoyed.

Appreciation for the consumer’s situation can shed light on the results of a campaign such as “If you’ve got the time, we’ve got the beer, Miller Beer” which highlighted beer was good anytime you had the time. Then there was “Weekends Are Made for Michelob.” That campaign both abdicated the work week to other beers.

The buzzword for marketers today is…"Awareness." Remain aware of every possible opportunity to triple your market by taking into consideration the “personalities” of the consumer.

Tom Feltenstein CEO/Founder - Power Marketing Academy
5 Five Traits of Successful Franchisees

If you're an entrepreneur or someone else who has a strong interest in owning a franchise and believe that you have a few or more of these traits.

You Have Access to Your POS Data, Now What?

This is the third article in a three-part series that focuses on the power and complexity of franchise data. The first article discussed the challenges franchises face with accessing and using POS data.

10 Fundamental Questions a Good Due Diligence Process Will Answer

While advising clients over the last decade, I have found there are at least 10 critical questions you want to have the answers to in order to be rest assured your decision is factual and not emotional.