2017 Analysis of United States Households.
2017 Analysis of United States Households of business goals and consumer behaviour!
There seems to be an approach to Marketing or overall business from a micro-level, which definitely works, but there also needs to be a focus on some key, obvious factors we tend to ignore.
Globalization has definitely made the world feel smaller but let’s look at some amazing examples of United States alone. Two great videos below that explain what 100$ means in each state and respectfully, what it takes to be apart of that highly exclusive 1%.
Sidler® International did not make these videos but they are made by some trusted sources. My goal with sharing these videos are that, we should realize that everything happening in other markets are creating a ripple effect; if it is happening on certain states, don’t be surprised when the same patterns shift over to other places.
How much 100$ is worth in USA?
The 1% in United States?
The conclusion after watching these videos is there should be an understanding as to why your products are much more successful in certain parts of the USA verses others. In presenting this analysis, SIDLER hopes to have provided some value – even if you knew this information, at least now you can confirm what you already know).
Let’s finish off with something interesting.
Neil Borden popularized the 4 P’s that are involved in great marketing.
Reference from Investopedia:
“The four P’s are the categories involved in the marketing of a good or service, and they include product, price, place and promotion. Often referred to as the marketing mix, the four Ps are constrained by internal and external factors in the overall business environment, and they interact significantly with one another.”
The 4 P’s: Product, Price, Place, Promotion
You can see how the two videos above are so related to what Neil spoke about over half a century ago. Understanding how your product’s price works in a certain location, you can create the most accurate promotion for your brand.