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Memo, After reading the New York Times

After reading the New York Times (Links to an external site.) Links to an external site. the article “How Companies Learn Your Secrets (Links to an external site.)Links to an external site.” (Duhigg), you realize that behavioral targeting poses a risk to your own company.

In a memo to your boss (up to 750 words):

summarize the situation
explain the potential business impact and cost of inaction
suggest a way forward using the TARES ethical decision-making framework.

To: Mr. Peter Trump, Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r.
From: Mr. Laban Smith,
Date: 23/4/2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online
Subject: New Marketing Approach
I am writing to inform you of a new marketing approach.
Behavioral target marketing has been the core course of competition in the 21st century. With the changing complexity of human behavior as well as technological innovation, behavioral target marketing has become the heart of any firm’s marketing strategies. Consumers are driven by specific factors to buy or do shopping in a certain company as a result of the company’s approaches towards them. After reading the article How Companies Learn Your Secrets from New York Times Magazine, I have observed that as a firm we are facing a stiff challenge from our competitors. From the story written by Duhigg Charles in 2014: 2024 – Essay Writing Service. Custom Essay Services Cheap, it is established that learning the consumer behavioral patterns highly influences the decision making the process of a company when formulating various marketing strategies. In the case, Andrew Paul, Statistician, has been working for Target Company since 2002. Over the course of his life, Paul has been passionate about mathematics and statistics. He has master’s degree in economics and statistics. He is highly obsessed with the intersection of data and human behaviors. Paul alongside the marketing department personnel devised a clear approach on how to win over pregnant women. According to Paul, shoppers usually buy goods or products from a store they highly associate the product with the firm. For instance, they buy electronics from an electronics store, vegetables from groceries, and house shopping from other stores. They hardly shop from one store. This was a challenge for them. They resolved to approach the customers secretly in order to win more customers to their store. They first identified pregnant women as their primary target group. They approached them in their trimester with various advertisements. They mailed the customers about various products available for them such as the maternity clothing and diapers amongst other clothes. Their strategy worked perfectly. They won over many customers who later resolved in buying products from the Target store.
As established in the case, understanding the customers’ age, marital status, income levels, job history, ethnicity, the highest level of education, reading habits, and products preferences such as coffee or cereals are a perfect way to establish the marketing strategy of an organization. These factors help in understanding the customer deeply which in turn shapes the organization’s approaches towards the target market. As established by neurologists, the habit creation process in our minds is usually a three-step loop; the first if the cue which tells the brain to drive into the automatic manner and the type of habit to use. The next is the repetitive or routine which may be emotional, mental, or physical. Thirdly if the reward which aids the brain in figuring out which loop is worth remembering for the future reference. Creating a habit in customers ensures high customer retention as well as winning over many new customers.
Currently, as a retail company, we face stiff competition from our immediate competitors including the ABC Retailers. This is a great risk which can negatively impact our operations hence leading to loss of market share. If we do not act in the next one year, we would have lost nearly 20% of our market share. It is a time to think of a solution, a time to change our marketing approaches and move towards the behavioral approaches.
The way for the firm is to enhance their behavioral approach to the analysis of the consumer’s behaviors. The company ought to use coupons, create customers loyalty catalog, and also offer customer incentives such rewarding loyal customers by giving them a trip or tour. This approach will draw more customers. This is a truthful message which enables the audience make a sound decision.
The motive of this strategy is to draw more customers while retaining them through the establishment of customer loyalty. As seen in the case, Paul was able to draw more pregnant women into the company as a result of their marketing approach.
The message is highly respective to the audience. Shopping using coupons and giving a trip to loyal customers is highly respectful of the customers. In their case, Target Corporation succeeded in luring more customers’ especially pregnant women due to their approach.
The approach is also persuasive and takes advantage of the customers’ vulnerability. With the changing complexity of human behavior, issuing a trip will draw the attention of more customers which in turn leads to enhanced customer satisfaction.
The approach will enhance the greater public good. More customers will shop in the company with their satisfaction levels highly enhanced.
As a firm implementing these approaches will perfectly improve our market share.
Laban Smith
Marketing Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r.

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