Customer Driven Marketing

groceryplaceing Assessment Part 1 Using a actually life example of a company outline the set out a line components of a customer goaded market system . flesh out how these components are utilised by your selected company in implementing a customer driven trade strategy. With times changing, technology move on and globalisation, competition for concern has never been greater. Businesses have started implementing customer driven marketing strategies. A customer driven marketing strategy focuses on quadruple diametric steps: 1. Segmentation - detachment of the market into different segments 2. Choosing a target market from the partition 3. Positioning - place the product being offered or tell on in the minds of the selected target market 4. Differentiation - differentiating the product being offered or brand from its competitors Through these four steps businesses back tooth work the questions : 1. What customers will we serve? 2. How can we serve these customers best? 1. securities industry Segmentation: There are many different types of customers, products and inevitably that exist in the market. Market partitioning allows people to get wind which segments offer the best opportunities. By doing this it allows businesses to reach smaller segments of customers in effect and efficiently with products and services that meet their unique needs. Markets can be segmented according by: * Geographic segmentation: this involves dividing the market by its physical location, whether it be a nations, regions, states, countries, cities or heretofore neighbourhoods. * Demographic segmentation : divides the market into groups based on variables much(prenominal) as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality. * Psychographic segmentation: divides buyers into different groups based on social class, lifestyle, or personality characteristics. * Behavioural segmen! tation: divides buyers into...If you extremity to get a full essay, order it on our website: BestEssayCheap.com

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