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Chapter 7: Customer-Driven Marketing Strategy
Names: Basil AL-Efranji Ahmad Bubtain Thamer bukhwa Hussain AL-Junubi Ismael Abulrahman Chapter 7: Customer-Driven Marketing Strategy DR. Richard
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Market segmentation What does it work with?
dividing a market into smaller groups with distinct needs or behaviors The approach to business market segmentation is conceptually similar to the approach for consumer markets.
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Market targeting What is market targeting?
process of evaluating each market segments attractive and selecting one segment to enter. A market target is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise towards.
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Differentiating Why do we use differentiating?
It offers to create superior customer value Unique qualities, perceived or real, of a good or service that distinguish it from a competing good or service.
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Different parts of segmentation
Geographic: calls for dividing the market into different units. Demographic: dividing the market into groups bas on variables. Psychographic: divide buyers into social class and lifestyle. Behavioral: divide buyers based on their attitude.
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Segmenting business Business market: is the market between one business to another, inside the country. International market: is the deals between one business and another throughout different countries. External business.
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Thank You
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