There are two key elements to a customer driven marketing strategy:
Choosing right customers to be served; and
Deciding on a Value Proposition to serve those customers in the best manner
Choosing right customers to be served – The same product appeals to different people at
different level and hence companies need to choose the category of people who would be best
served by their product/services. Now there are two stages in this process viz. Segmentation and
Targeting. Segmentation involves dividing the whole market into smaller customer sections on
the based on their characteristics, need, behavior etc. The four major variables for segmentation
are:
Geographic – Region, City size, City area, etc.
Demographic – Age, Gender, Education, Ethnicity, Income levels etc....
There are two key elements to a customer driven marketing strategy:Choosing right customers to be served; andDeciding on a Value Proposition to serve those customers in the best mannerChoosing right customers to be served – The same product appeals to different people atdifferent level and hence companies need to choose the category of people who would be bestserved by their product/services. Now there are two stages in this process viz. Segmentation andTargeting. Segmentation involves dividing the whole market into smaller customer sections onthe based on their characteristics, need, behavior etc. The four major variables for segmentationare:Geographic – Region, City size, City area, etc.Demographic – Age, Gender, Education, Ethnicity, Income levels etc....
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