Thursday, August 13, 2015
Why Target's Gender Neutral Marketing Policy Is Bad
On August 7, Target announced that it would stop using gender-based signing. I can bring up numerous instances why this is bad. It removes a core component to market segmentation, gender-based demographics. This means that they will not be selling according to how the products were designed.
Understanding the design process is critical in the moving of a product. The first major question a company will ask when designing for consumers is who is this product primarily intending to reach (age, region, gender, etc.). Gender neutral products, in my observation tend to have a shorter life-span. Now let me make a distinct note on the difference between gender-neutral and general audience products. Gender-neutral is designed to not be offensive to the purchasing audience. BUT, pick up the coin. It has two sides. The same thing that may repulse a shopper from one product would attract them to another. This create a competitive sales force in the market.
By removing the pressure to buy, that utility of the customer can have the product if they got it THEN and THERE if they bought it NOW, in essence renders the purpose of the product as less purposeful. The purpose of marketing is to capture those discretionary dollars the consumer has. This will cause a wider revenue but also a shallower one that is easier to dry or become stagnant.
The problem is Target has sacrificed business for altruism. But Target needs to recognize that they are a business, not a political statement. While I have restrictions that dictate what business I handle, I have to remember that I am still operating a business and if you're not in business to make money, why are you there in the first place? Business's first policy is to add value, and Target is, instead, taking that away. Target should shift it's focus to what made it great in the first place, creating a higher-touch shopping experience. Target grew on affordable luxury, but now its priding itself by pandering to the pauper. These complaining customers are the screaming minority and make little impact on the sales.
I hope target will be able to salvage themselves from this.
Thursday, January 30, 2014
When All Hope Is Misplaced
Let me ask you a dumb question. Have you ever lost your keys? Wallet? How about your phone? We all have been there. But in how many scenarios were they really misplaced?
Tough times can rattle oura ability to cope with pressure and decisions. In the business world, when the sales aren't coming or the traffic is dead, all hope could be "lost." Maybe that large sale fell through. Perhaps that client went with a competitor at last minute. Truth be told, the only numbers you are seeing go up might belong in the liabilities column. The trend may not seem to reverse and you may just feel like throwing in the towel and liquidating.
But I want to ask when was the last time you turned your problem on its head? When was the last time you tried a new product line or adjusted your market approach.
One thing I have come to believe is that markets never really disappear unless they're lost to a newer, more efficient market. You just have to be the smartest, most efficient person when it comes to marketing your idea. You may have to create a new product, or advertise in a different region. The fact is, your business is not hopeless.
I would like to encourage you to find the gold among the rocks. You are an intellectual and a creator. There is always a method of approach. Hope is only misplaced. You can still find it.