COMMERCE 2MA3 Lecture Notes - Lecture 2: Marketing Mix, Marketing Effectiveness, Customer Retention
11 Dec 2016
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Customer relations-> recording all interactions you have with the brand -> purchasing, complaints, calls to 1800 # Creating a mission-> why is the company in business (what will it do for customers, society, and business plan (vison)) Segmentation-> groups of customers that are similar in characteristics, needs and wants, and react similar to your marketing actions. -i. e drop price by 10% ->one segment will buy more, one segment may not like the brand as much anymore. -premium brand customers care about exclusivity (want brand to be expensive) -windows laptops are on sale much more often than mac. -two people from different segments should act completely different in situations. Targeting-> have to pick what segment you want to target and use the marketing mix to market to that segment. Positioning-> the brand image you want your customers to have of you, relative to the competition.
