opportunity 14 of 150 A key to effective marketing, and certainly to cost effective strategic planning in marketing, is knowing exactly who to focus resources on – or in other words – who the target audiences are. Most businesses have a number of target audiences – each with its own challenges and opportunities. Most marketing […]

opportunity 14 of 150 A key to effective marketing, and certainly to cost effective strategic planning in marketing, is knowing exactly who to focus resources on – or in other words – who the target audiences are. Most businesses have a number of target audiences – each with its own challenges and opportunities. Most marketing strategies focus on the primary target market and, to a lesser extent, secondary target markets. This reflects a very limited view of the scope of marketing. Some businesses recognise the importance of other groups – including the broader community – and engage a public relations team to address them, possibly along with investors and potential investors. Again, this reflects a limited view of the scope of marketing. The optimal marketing strategy must recognise and address all audiences including: Supporters Collaborators Community Every business is dependent on a range of supporters that might include bankers, investors,…