Micromarketing

Micromarketing was first referred to in the UK marketing press in November 1988 in respect of the application of geodemographics to consumer marketing.  The subject of micromarketing was developed further in an article in February 1990, which emphasised on the understanding of markets at the local level, and also the personalisation of messages to individual consumers in the context direct marketing.  Micromarketing has come to refer to marketing strategies which are variously customised to either local markets, to different  market segments, or to the  individual customer.

Micromarketing is a marketing strategy in which marketing and/or advertising efforts are focused on a small group of tightly targeted consumers.For example, markets can be grouped into narrow clusters based on commitment to a product class or readiness to purchase a given brand .

Two Segments
Finer segmentation (FS) as "the final advancement in market segmentation as it combines the use of differentiated marketing and niche marketing to reach the smallest groups in the marketplace".

Richard Tedlow (1993) thought that he detected evidence of what he called hyper-segmentation which he saw as a logical extension of the market segmentation era.[6] These approaches combine multiple segmentation variables in ways that have been elusive within conventional approaches to segmentation.

New Segment for the new age
Additional data inputs might include behavioural variables such as frequency (site visits), diversity including visitation across different landscapes and fluidity spanning multiple time periods. Programmed business intelligence software analyses this data and in the process, may also source data inputs from other internal information networks. Given this reliance on digital data inputs, some theorists have also used the term, cyber-segmentation to describe micromarketing

MICRO MARKETING WITH ADVERTISING 
"Global ad spending is predicted to reach $662.73 billion by 2018. Unfortunately, a lot of those dollars will go to waste."[9] However, the advent of micromarketing or hypersegmentation allows advertisers the opportunity to get "more bang for their buck" by targeting consumers who exhibit a readiness to buy.

A report from 2007 by Tech Crunch titled "Facebook Will Use Profiles To Target Ads, Predict Future" talks about how Facebook was planning to target individuals based on each particular profile.[10] Moreover, the Wall Street Journal claimed in a report, that the new system will "let marketers target users with ads based on the massive amounts of information people reveal on the site about themselves."[11]

THE ECHO OF ADVERTISING

The sound of advertising is a silent tune. Its art lies in how you want it to be heard.


The quackling hustle bustle of a decently scattered office with the distant tingling sound of the platters in the kitchen room are the first sounds that one would here at the hearty office of Situations Advertising, located in the heart of the city, Mumbai.  Through time as we travel, we journey across the route of changing minds that keeps itself busy at its creative best.

Hailing from a family of engineers, where the world is altogether, I would say materialistic, is where I have made a shift. A rather creative and more mind enhancing serenity of creativity is what my world is formed of, where the sound of talent and ideas take a far greater podium than the normal echo of a silent paperwork! Mumbai, the city of opportunities as the residents would term it “Mumbaikars”. Amidst the first morning sounds of the birds and soft honks of a rick, to the picturesque scenario of a busy train jam, the first echo that dawns the mind of the common people is the sound of advertising. This article probably to some extent believes, advertising, if not the bread, but is definitely the much required morning coffee of the people. This article believes that advertising does not limit its creativity only to its professional jargon, but travels towards forming a singular musical notation of a thought – a thought that can be expressed through a distinct voice, decided by us, heard by many!

In the darkness of a much happening economic downfall, the light at the end of the tunnel is reflected through and by the strength of advertising. While creating the idea of an advert, the team always believes in blending two worlds and making a million ideas blend into one voice. At least, that’s what Situations believe in. But this article to an extent thinks that these are not two worlds but the thought of a common man divided into two distinct perceptions: The attracting sound of the thought pictured through the advert. The second, being the aim of its message that it is trying to convey through the advert. Now there is a third kind – Innovation and recreation!

Journeying from the tunes of a touching cellular jingle advert to the extravagant cosmetic advert that keeps continuing its appearances at intervals of a soap serial or an entertaining cricket match, people looks ahead not to its advertising but how different it is from the previous advert, which is why a Vodafone or a Coca-Cola advert is seen more than an Ujala or Maxo Ad! So where is all this discussion leading to?

The head-point of an advertisement lies not in its brand name by how that name is regenerated through innovation. The common people does not buy the product because of its worth, but because it is worth buying the product. From an “I am Mumbai” advert to an Airtel or Vodafone cellular advert, creative heads have given worth to its pictorial essence, but it is time to focus on how it can recreate the pictorial essence in a way that the message leaves a worthy “echo – effect” amongst its audiences. Although, this article has tried its best at relaying the message, that it is not the advert that people like to watch, it is the lasting effect of the advert that makes the advert worth watching!