Professional Documents
Culture Documents
A1 Customer Driven Marketing Strategy - Basilio, Alyssa Bernadette A.
A1 Customer Driven Marketing Strategy - Basilio, Alyssa Bernadette A.
A1 Customer Driven Marketing Strategy - Basilio, Alyssa Bernadette A.
MKT1209-SEC01 EXT A1
marketing strategy for a specific segment, several stages must be completed to ensure that the
campaign will be successful. Businesses will first have to assess their current internal and
external environments. For companies to identify an attractive market, they must evaluate each
market’s attractiveness to the customers and then divide it into smaller segments and finally
choose one or more units to enter. They must also assess and analyze the size and growth
compatibility with its objectives and resources. The company will then choose one out of the
four marketing strategies which range from very broad to very narrow targeting.
When a company attempts in evaluating market segments, it considers three important factors:
First, a company chooses a segment with the appropriate size and market growth; this is a matter
of degree. Fast-growing segments aren't always the most attractive, but they are highly
Firms choose one or more segments to enter after evaluating the various segments. A target
market is defined as "a group of buyers who have similar needs and characteristics." The target
market also has several different levels and these are as follows:
which a company disregards market segmentation and targets the entire market with a single
offer. This strategy is appropriate for everyday items such as rice, potatoes, oil, salt, and so on.
market segments and develops distinct offers for each. For example, upper-class women, middle-
wherein it is also available in two varieties to meet the needs of a specific individual or local
customer.
Local marketing is defined as the process of modifying products to the needs of local customer
Individual marketing is the process of tailoring goods and services to individual preferences.