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Customer-driven MKT strategy - Coggle Diagram
Customer-driven MKT strategy
Market segmentation
Segmenting consumer markets
Business market
International markets
Four main steps
Select customers will serve
Segmentation
Divide the total market into smaller segments
Targeting
Select the segment or segments to enter
Decide on a value proposition
Differentiation
Segmenting consumer markets
Psychographic
Divide base on social class, lifestyle, personality
Geographic
Divide base on geographical units
Mostly focus on geographical differences in needs and wants
Demographic
most popular bases for segmenting customer groups
easy to measure
Assess the size of the target market
Age & life-cycle
Different approaches for different age and life-cycle groups
Gender
Income