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Customer Analysis Essay Example

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Customer Analysis

Depending on the potential estimates made concerning the market available, the marketer has to decide which places to distribute the product and which to be left idle. Transportation decisions also have to be considered, and the number of distribution channels. However, most distribution centers should be placed where a wide potential market has been identified.Promotion decisions include the various ways in which the marketer can market the product. Different marketers will use different strategies of marketing a product depending on its type. For instance, marketing grinding machinery would need a method such as personal selling to ensure that the customer is totally made aware of the product and its functioning. However, other methods of marketing such as advertising might leave some information about the product.2) What is the relationship among market segmentation, target marketing, and positioning? What will happen to a company’s target marketing and positioning efforts if markets are incorrectly or not effectively/insightfully segmented?Market segmentation refers to the division of the customers of a product into different groups. Customers will mainly be divided depending on their needs, their characteristics and their financial ability. While segmenting the market, the marketer also has to consider the organization’s ability to satisfy all the segments and the competitive advantage of each segment. Other factors that have to be considered in evaluating the segmentation includes; the costs of the product and the sales estimates (Pride & Ferrell, 2011).Once the business has divided its market into different segments, it then evaluates the potential gains of each market and then chooses which to concentrate on. This process is referred to as target marketing. The market chosen is then referred to as the target market. This is usually the market that has a large number of buyers and a high possibility of achieving the set goals and objectives (Pride & Ferrell, 2011). In choosing the target market, the company should not only consider the current benefits obtained but also the future effects.After the target market has been chosen, the organization then has to define and shape the way that the product is seen or appears in the minds of consumers. This is referred to as market positioning. It mainly involves differentiating of products

References

Davenport, T. H., & Harris, J. G. (2009). What people Want and How to predict it. MIT Sloan Management, 50(2), RR.

Pride, W. M., & Ferrell, O. C. (2011). Marketing (16th ed.). Mason, USA: Cengage Learning.

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preview essay on Customer Analysis
  • Pages: 4 (1000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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