Designing Customer Driven Marketing Strategy
Designing Customer Driven Marketing Strategy:
Now-a-days companies recognize that they can not appeal to all buyers in the marketplace or at least not to all buyers in the same way. Buyers are too numerous, too scattered, and too varied in their needs and buying practices. Moreover, the companies themselves vary widely in their abilities to serve different segments of the market.
There are 4 steps of designing customer driven marketing strategy. They are described below:
(i) Market Segmentation:
Buyers in any market differ in their wants, resources, locations, buying attitudes, and buying practices. Through market segmentation, companies divide large heterogeneous markets into smaller segments that can be reached more efficiently and effectively with products and services that match their unique needs. Market segmentation is of two types:
A) Segmenting consumer market: There is no single way to segment a market. A marketer has to try different segmentation variables, alone and in combination, to find the best way to view the market structure. There are four segments of consumer market:
1. Geographic Segmentation: It calls for dividing the market into different geographical units such as nations, regions, states, provinces, cities or even neighborhoods.
ECONO DX mainly does their business in villages. They are also supplying their pens in big cities of Bangladesh but, in few amounts.
2. Demographic Segmentation: It divides the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation and nationality. Demographic factors are the most popular bases for segmenting customer groups. One reason is that consumer needs, wants and usage rates often vary closely with demographic variables. Another is that, demographic variables are easier to measure than most other types of variables.
As example, old people will buy ECONO DX because; memorable events are
Now-a-days companies recognize that they can not appeal to all buyers in the marketplace or at least not to all buyers in the same way. Buyers are too numerous, too scattered, and too varied in their needs and buying practices. Moreover, the companies themselves vary widely in their abilities to serve different segments of the market.
There are 4 steps of designing customer driven marketing strategy. They are described below:
(i) Market Segmentation:
Buyers in any market differ in their wants, resources, locations, buying attitudes, and buying practices. Through market segmentation, companies divide large heterogeneous markets into smaller segments that can be reached more efficiently and effectively with products and services that match their unique needs. Market segmentation is of two types:
A) Segmenting consumer market: There is no single way to segment a market. A marketer has to try different segmentation variables, alone and in combination, to find the best way to view the market structure. There are four segments of consumer market:
1. Geographic Segmentation: It calls for dividing the market into different geographical units such as nations, regions, states, provinces, cities or even neighborhoods.
ECONO DX mainly does their business in villages. They are also supplying their pens in big cities of Bangladesh but, in few amounts.
2. Demographic Segmentation: It divides the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation and nationality. Demographic factors are the most popular bases for segmenting customer groups. One reason is that consumer needs, wants and usage rates often vary closely with demographic variables. Another is that, demographic variables are easier to measure than most other types of variables.
As example, old people will buy ECONO DX because; memorable events are