Introduction to Marketing
Department of Management
. Marketing dynamics
. Consumer behaviour
. Market segmentation
. Marketing mix
. Customer relationship management
'The management process responsible for identifying, anticipating and satisfying customer requirements profitably' (CIM)
'satisfying needs and wants through an exchange process' (Kotler,2009)
Dissatisfied customers can tell up to eleven other people about their bad experiences, which is two to three times more people than a satisfied customer will talk to.
Consumer Behaviour- Customers
How do they buy?
What are their choice ...view middle of the document...
Marketing activities associated with successful segmentation
Market Segmentation Cont.
Segmenting consumer markets
Behavioural Psychological Profile Profile
Purchase / transaction Lifestyle Demographic
Consumption / usage Personality Socio-economic
Media usage Perceptions Geographic
Technology usage Attitudes
Who, How, Where, and Who and Why Who and Where
Segmenting business to business markets
Base Type | Segmentation Base | Explanation |
Macro segmentation | Organizational size | Grouping organizations by their relative size enables the identification of design, delivery, usage rates or order size, and other purchasing characteristics. |
| Geographic location | In many situations the needs of potential customers in one geographic area are different from those in another area. |
| Industry type (SIC) | Standard industrial classifications (SIC) are codes used to identify and categorize all types of industry and business. |
Micro segmentation | Decision making unit structure (DMU) | The attitudes, policies, and purchasing strategies used by organizations provide the means by which organizations can be clustered. |
| Product | The types of product/services brought and specifications that companies use when selecting and ordering products and equipment may also form the basis for segmenting business markets. |
| Situational factors | Delivery lead times and order size provide...