MKTG3501 Lecture Notes - Lecture 5: Targeted Advertising, Voice Of The Customer, Small Business
Document Summary
The critical issue is to find an appropriate segmentation method that will facilitate target marketing. Buyer preferences create buyer and customer market segments. Segmentation means the identification of consumer groups that respond differently from other consumer groups to competitive strategies. Successful segmentation strategy involves the conceptualisation, development & evaluation of a competitive offering. Millennials is a needs-based segment defined by age (18-24). View this video to better understand this segment: we. Industrial, commercial and hi-tech customer"s needs are also shaped by company demographics, company culture and usage behaviors. The segmentation process: discover what your customer values. Transaction management: analysing segment core needs and segment identification. How would a local gas station select and segment and position its gas station: segment attractiveness. Segment attractiveness can vary from one segment to another based on market demand, competitive intensity and access to customers: segment profitability (crm, trend analysis, segment positioning, segment strategy acid test .
