2. Create a demographic profile including variables such as age, gender, occupation, income, marital status, education level, location etc, to help you define your target market.
Steps 1 and 2 above will help the participants to identify a market nicheto work in. If they do not identify a market niche, they will struggle to have an effective social start-up that targets everyone!
Once the participants have completed steps 1 and 2 above, ask them to outline how they will |
i) |
identify and define their niche |
ii) |
narrow their market focus |
iii) |
targettheir market niche successfully. |
In considering these points, the participants ‟ product or service will be more desirable, and their brand will be adopted more rapidly.
4. Developing the marketing communications
Once the participants have identified their market nichethey will need to focus on developing their marketing communications.
Ensure that their marketing communications: i) explain what theirsocial start up offers ii) are effective for persuading people within their niche market to become their customers / clients.
There are generally two ways of communicating the marketing message so ask the participants to develop both:
1. Elevator pitch: short and to the point! This is a once-in-a-lifetime opportunity to attract customers / clients / investors / partners through a snappy 1 minute maximum pitch about what the social start up does.
2. the complete( long) marketing message: ask the participants to develop this type of message and identify all physical and virtual locations and channels where it can be used effectively to attract customers / clients / investors / partners. Ensure that their complete marketing message is compelling and persuasive and includes:
� An explanation of their target customers ' „ problem ‟ or „ gap in the market ‟.
� Proof that this problem or gap is critical and that it should be solved immediately.
� An explanation of why they are the bestfor solving this problem or addressing this gap.
� The benefits from using theirsocial start up rather than the competition ‟ s.
� Examples and testimonials of satisfied customers who have used thesocial start up.
� An outline of the prices, payment and where relevant, membership terms.
5. Defining the marketing channels
Now that the marketing messages are complete, the participants will need to identify the methods and channels through which their potential customers / clients will receive these
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