MARKETING Series: Dominant Paradigm

Are You Capturing the Power of Understanding Market Core Beliefs?

What does your target market believe about your product category? The core beliefs of a market can often determine your strategy. If they have negative beliefs about offerings in your product category, you have to work hard to overcome those. If they have positive beliefs, who have to work equally hard to leverage these, demonstrating that your offering is one of the positive values being delivered to the market.

For example, for one client, there was a belief in the market that “all sugar was the same.” My client, who produced cane sugar, saw this belief emerge and grow as beet sugar began to take more and more market share. Research demonstrated that belief systems has changed due, in part, to lack of category education about the differences resulting in baking with cane vs beet sugar. New market strategies were developed. Education campaigns at cooking school inaugurated. Consumer advertising was changed to highlight the benefits of cane sugar to the consumer. Marketplace attitudes were measured to be certain that the core belief was changing.

What’s a small businessperson to do that does not have the marketing and/or research budget? One method that has worked is to have a meeting with friends, family and even a customer or two. From this group, generate a list of core beliefs in the marketplace about the product category.

For each belief, add a “+” sign or a “-“ sign – the plus meaning the belief is positive. Then, determine what you need to do either leverage or overcome the core belief. This exercise will offer insights into the messages you should be sending to the market. It may change what benefits you highlight. It may inspire new insight into the value you deliver.

At the very least, it should provide you a new affinity group who is now connected to your small business in a new way.