July 26, 2018
40 | How knowing your audience will ensure an effective introduction to the marketplace – the GE in Mexico story
Why you’ve got to listen to this episode:
Do you like peanut butter? If you’re from North America, particularly US and Canada this may be a decisive yes. In fact, in Canada and US peanut butter is a staple. But if you’re from another country, you may not like peanut butter or may not even have ever tried it.
Different countries have their own unique customs and flavours that form part of their culture, so it can be easy to understand how products such as peanut butter may have a difficult time penetrating a new culture and marketplace. But the same is true for almost any product or service.
You must always maintain your brand integrity, but you also need to understand your audience. This is particularly true if you are in a different culture. You must introduce your brand in a way that is relevant and meaningful to that particular culture/audience.
In this episode, I share my own experience working with the GE major appliances brand in trying to penetrate the Mexican market. I share what we did wrong, what we learned from our mistakes and what we did to ensure a proper introduction to the marketplace.
Who can benefit from listening in:
Whether you’re thinking of expanding to a different market or region, reaching a new audience (younger, older, etc.) in the same marketplace, or launching your brand for the first time you can learn from a giant like GE what not to do and how to ensure a positive introduction to a marketplace.
Key takeaways from this episode:
- Knowing your audience before you decide on what product to sell or how to introduce it to them.
- Cultural differences can affect the introduction of any product or service to a specific marketplace.
- Your brand can and must keep its integrity always, but you can still be relevant and compelling to different audiences.
- You must learn about your audience and how to “interpret” your brand so it’s compelling to them.
- A brand, even if it’s new to a marketplace, must feel familiar to the audience.
Links to resources mentioned in this episode:
- Alberta Podcast Network
- Rotary District 5370 Conference 2018
- ATB “The Brach for Arts & Culture”
Thanks for listening
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