Marketing is one of the most important elements when establishing a new business. No matter if we talk about physical stores or online stores the process of marketing must be implemented. The marketing is separate into different types like digital marketing, affiliate marketing, content marketing… but in this article, I would like to show the definition, the strategy and some examples of micromarketing. So let’s try to mention everything you need to know about micromarketing.
When a new business is establishing, one of the most important things that need to be done is selecting the product or service that will be provided and of course for what buyer persona that product will be delivered.
If you want to get a positive result for your company and that means to gain some profit, you need to have some customers to sell your goods to them. So when you are choosing your targeted buyers, you can create a different type of marketing strategy. For example, you can produce only one product or product line and targets all of its customers with a single marketing mix. But that is very wide marketing.
The next more narrow marketing is when the company is producing different types of products and for every type, they are creating a separate marketing strategy. In that way, they are targeting different buyers with a different strategy.
What is Micromarketing?
The most narrow type of marketing strategy is micromarketing. With micromarketing, the company is dedicated to a small group of tightly targeted consumers. This can be very expensive because this requires that every segment needs to be tailored separately for every customer. Micromarketing can be very useful for making a brand from the company, just because of the time that they will spend to target that small group of people. With that, they can make a real brand that is caring for a specific group of people.
The term micromarketing was first used in the United Kingdom in the year of 1988 in respect of the application of geodemographics to consumer marketing. Later in 1990, the subject of micromarketing was developed further as understanding the markets at a local level, and making a personalization to the direct marketing.
Example of Micromarketing
To understand the real meaning of the term micromarketing, we need to use a couple of examples that the big companies and corporations are using. One of these companies is the American multinational footwear manufacturing company “Nike”
So what Nike offers to the customers? They have regular products that they are marketing and offering to everyone and distributing those products to the physical stores in the United States and in the rest of the continents. This products are part of the mass-production of the company. These are the basic product that we can get from the company.
Besides this, on the online store of Nike, we can find the section Nike By You. This is a section where the company gives the chance to create your own custom shoes. You can select a basic product that we mentioned previously and start making changes to it. The changes affect the color of the base, the collar, the swosh, choose different material and so on. After creating the final product, you can see how it will looks and you can proceed to make the payment for the product. When they produce the product, you will get it at the threshold of your home. One thing to be mentioned is that the price of this custom product will be more expensive than the basic variant of that product.
With this example of the way of working of Nike, we can see what is micromarketing and how it can be applied in today’s modern way when there are online stores that are providing even more sales than selling in a physical store.