An effective marketing strategy is vital for a businesses’ survival in a competitive market. Marketing strategies aids a business in producing products and services that provide the best possibilities for making a profit. They also provide businesses with a competitive edge over their competitors by assessing market trends, research, and considering your optimal target audience or customers.
Consumer needs are constantly changing. Therefore, it is important for marketers to analyze consumer trends and behaviors in order to develop strategies to meet their needs. Adaptive marketing is a valuable strategy that enables marketers to tailor marketing efforts that meets customer’s needs and wants effectively. Moreover, it allows them to satisfy a customer’s needs relative to the brand. Adaptive marketing can impact the brand identify by gaining the customer’s trust, bringing more value to the brand, and encouraging transparency between the customer and the brand.
Adaptive marketing is an essential strategy that focuses on customers, their needs, and connects more customers with a brand by creating a personalized experience. For instance, when Kraft Foods, an American food manufacturer, they wanted to tap into the global market and launch the Oreo brand worldwide with a global positioning as “Milk’s Favorite Cookie.”
Kraft Foods tried to sell Oreo everywhere but discovered through research that there were cultural differences in the taste preferences of the Oreo cookie. For example, Indians thought that Oreo cookies were too bitter while the Chinese, thought it was too sweet. As a result, Kraft Foods tailored the Oreo cookies to suit the taste preferences of their target audience. They introduced new formulas across markets such as green tea ice cream fillings which was less sweet for China, dulce de leche and banana varieties for Argentina, and chocolate and peanut variety for Indonesia. Subsequently, Kraft Foods took it a step further by tailoring their marketing efforts to improve their connection with their local customers.
Implementing an adaptive marketing strategy is an important approach that businesses can use to attain success. It improves sales, enhances the customer’s experience with the brand, and strengthens the brand’s loyalty. Adaptive marketing is an effective strategy that puts customers first, creating opportunities for long-term, optimal results.