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Know Your Market: Understanding Different Customer Sets

5 Mar 2024 · 1 min

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This content was created by Mark Osborne, MBA, CEPA®. This content was uploaded by Mark Osborne, MBA, CEPA®. This is a YouTube video titled "Know Your Market: Understanding Different Customer Sets" (created 2024-03-05). The excerpt is a spoken segment by a single speaker discussing the automotive market — contrasting manufacturers (brand-focused, glossy national advertising and websites) with local dealers (inventory-focused sites aimed at driving test drives and sales) and explaining they target different buyer types and parts of the car-buying value chain.

Chapters

If we think about where this fits in the equation of car buying, obviously the automotive manufacturers are really excited because this gives them a chance to show off their cars better. And the local dealers are really excited because this helps them stand out from all of the other dealers in their market, that they're creating this really rich online experience. For our listeners that that aren't aware, those tend to be kind of different buyers and different sort of parts of the value chain. The automotive manufacturers do sort of national advertising and they kind of have websites that are really nice glossy brochures, more sort of brand-oriented. But the dealers tend to have websites that are a little more focused on actual inventory, getting people in to, you know, sort of do a test drive and actually close a sale and make a purchase. So those are 2 very different customer sets.