Preview

Marketing Segmentation

Good Essays
Open Document
Open Document
1020 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Marketing Segmentation
The Greatest Marketing Secret of All
If there is something about which I am pretty adamant, it's the concept of attracting clients that are pre-qualified and willing to do business. And this involves many different things. In fact, most of it comes down to three core practices: 1) Focus, 2) targeting, and 3) multiplication (such as focusing on a niche, market targeting, and multiplying one's marketing efforts).

However, this fundamental magnetism is not only based on pure marketing practices or strategies. It also involves something at a much deeper level that is far more effective than any other marketing tool or process. This "thing" to which I am referring is, I believe, the most important marketing secret that I can ever teach you -- and it's far from being a secret at all. But it is considered as one to a certain degree simply because this "secret" is often neglected or ignored by many business people.

What is this elusive secret? Before I divulge it to you, let me give you a little preamble. First, I must admit that it upsets me terribly to see when people tend to scoff their most valuable marketing assets. No, I'm not referring to salespeople or promotional activities. I'm not referring to prospects or clients either. I'm referring to talents, dreams, and passions.

"Marketing is not a battle of products, but of perceptions," marketing expert Jack Trout once wrote. If people perceive that doing business with you has an implicit added value, especially when compared to your competitors that are fiercely fighting for your market's attention, you will often end up with their confidence (and their repeat and referral business) as a result.

Of course, there are numerous ways that value can be added to your business -- e.g. by specializing, by packaging (naming) your products and services, by presenting benefits rather than features, by delivering personalized services, by presenting a professional image, by offering something for free, and so on.

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Nt1310 Unit 5 Assignment

    • 532 Words
    • 3 Pages

    There are different ways through which businesses can add value to their products and services.…

    • 532 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Marketing and Segment

    • 1651 Words
    • 7 Pages

    10. Conducting a Market Opportunity Analysis (MOA) is the first step in developing a marketing strategy.…

    • 1651 Words
    • 7 Pages
    Satisfactory Essays
  • Good Essays

    The film, “The Merchants of Cool,” teaches viewers that marketers will go through great lengths to make profits. Marketers work continuously at creating new and innovative ways to keep their messages unique and engrained in their target audience’s lives. One way that this…

    • 838 Words
    • 4 Pages
    Good Essays
  • Good Essays

    * THE KEY TO SUCCESSFUL MARKETING: establishing a balance between these two needs that best appeals to that…

    • 2517 Words
    • 11 Pages
    Good Essays
  • Powerful Essays

    Segmentation and Target Market PaperJonathan GraceMKT/571October 21, 2014Dr. Johnny MorrisSegmentation and Target Market PaperThis plan was put into in 1936, establishing the Government Employees Insurance Company, the company known and respected today as GEICO. GEICO was primarily directed toward federal employees and certain groups of enlisted military officers. Lillian Goodwin actively marketed the company to this group of consumers and within a year, GEICO had written over 3,700 policy holders and employed 12 staff members.…

    • 1109 Words
    • 5 Pages
    Powerful Essays
  • Satisfactory Essays

    At the root of marketing is a simple exchange between a business and customer. Marketing became a mainstream business practice with the development of technology and infrastructure which brought on an increase in competition amongst businesses. Today consumers are well informed and no longer obligated to simply purchase a product in order to fulfil a need. With this, the power has shifted from businesses to the customer.…

    • 319 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Art Of Getting Customers

    • 1565 Words
    • 12 Pages

    OPEN Forum Growth Guide: The Art of Getting Customers Guy Kawasaki STRICTLY BICYCLES NELSON AND JOANNA GUTIERREZ MEMBER SINCE 01 OPEN Forum: The Art of Getting Customers 1 As any business owner can tell you, acquiring new customers is the driving force behind successfully growing a company. Thirty-five years ago, I started in the fine-jewelry busines, schlepping rings and pendants around the world.…

    • 1565 Words
    • 12 Pages
    Better Essays
  • Good Essays

    The selection of segmentation method and a doctor’s diagnosis are similar in that they both use a process of elimination to narrow down the field to find the correct product for the customer, or diagnosis for a patient. The doctor begins with a series of questions, and basic testing to “start segmenting the market”, once the doctor has a better understanding of the possible ailments, the “product mix” is identified and she is able serve the customer/diagnose the problem. A general doctor begins his assessment with more of a mass marketing effort, meaning there is a huge width and depth of possible diagnosis, but once she is able to narrow down the field she begins to segment. Whereas a specialist, i.e. dermatologist is already working in a segmented market and has the ability to better understand potential and actual customers, from the get. In both cases segmentation helps the doctor to better understand their market and serve their customers well.…

    • 538 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Disponible Income: The Food expenditures are dependant from the available household Income. Moreover mostly the Importance of the price is decreasing with an increasing household Income. Therefore people with a more than average disposal income should be attractive for premium ice sellers and super premium ice sellers with higher product prices. In contrast to the much higher prices of super premium ice cream, “Low-Cost” Ice Creams producers can attract - with often small margins and bigger volumes- People with an low disposable Income or people with an higher Income who do not feel attracted by the additional benefits of an premium or super premium ice product. In general the premium Ice-seller will have to focus on much smaller customer groups, so called niches with an more specific Marketing than the Low-cost ice cream producers.…

    • 710 Words
    • 3 Pages
    Good Essays
  • Good Essays

    MARKETING MANAGEMENT

    • 3070 Words
    • 13 Pages

    Marketers have a wide array of selling tools at their disposal, but lack an effective method for predicting their success. Associate Professor Thomas J. Steenburgh and collaborators offer a new model for guiding their marketing investments. Key concepts include:…

    • 3070 Words
    • 13 Pages
    Good Essays
  • Powerful Essays

    • Kotler, P. Armstrong, G. Wong, V. Saunders, J. and Wood, M. (2010) Principles of Marketing Prentice Hall; 5thedition…

    • 6399 Words
    • 26 Pages
    Powerful Essays
  • Good Essays

    Paper

    • 787 Words
    • 4 Pages

    As far as the marketing concept is concerned, this is best exemplified by the example of Joe Girard. He was a salesman who sold two times as many cars annually then his closest competition. His success largely came from the fact that he made his customers feel like he cared about them. He sent Christmas cards and letters even after he completed the sale. This means that the customers are satisfied and helps Joe Girard’s ultimate prosperity.…

    • 787 Words
    • 4 Pages
    Good Essays
  • Good Essays

    managemant

    • 874 Words
    • 4 Pages

    Marketing and sales – These are the processes you use to persuade clients to purchase from you instead of your competitors. The benefits you offer, and how well you communicate them, are sources of value here.…

    • 874 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Consumer Market and Consumer Behaviour Perception – Selective Distortion Perception  Meaning – Perception is a process by which a person select, organize and interpret the information. People can interpret different kinds of perception and this can be form in 3 types of perception ; Selective Attention, Selective Distortion and Selective Retention. Selective Distortion …

    • 329 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Marketing: A shift from What you are selling To Whom you are selling it to.…

    • 1136 Words
    • 5 Pages
    Powerful Essays

Related Topics