Today is Black Friday, the day big retailers expect to go into the black and become profitable. For marketers it is a most important day. Normally, I go black the day after Thanksgiving but today a short post.
Marketers 3 favorite words are “pent up demand.” Following a down market and low sales, pent up demand in the luxury goods market has lifted sales 10% lately. As a strategic planner, I like to look at the emotional pent up demand consumers deal with relative to a product or service category. For example, fast food customers feel the food they eat at quick service restaurants is not particularly healthy. And the food that is healthy doesn’t taste so good. Wendy’s, with its newish positioning (You know when it’s real), has a chance to fill the pent up emotional demand of fast food customers seeking healthier fare. Maybe not the best example, but you get what I mean.
When planning, ask yourself about the pent up emotional and psychological needs of your target. You may be surprised what you uncover. Peace!