Marketing and Customer - 1096 Words

Megan Sedlacek Marketing Unit 4 Assignment 1. As a marketing consultant for a chain of hair salons, you have been asked to evaluate the kids’ market as a potential segment for the chain to target. Evaluate the kids’ segment against the four criteria for successful market segmentation. * Substantiality: Is the kids’ group large enough to warrant developing and maintaining a special marketing mix? I think so. However, there is a challenge finding the right size or balance. If the kids’ group is too large in one region, there is a risk of diluting effectiveness, and if the group becomes too small, the company will lose the benefits of economies of scale. There are often very large customers that provide a large portion†¦show more content†¦Based on segments, customer centric offerings are to be offered. Each customer has their own liking and disliking as well as proper planning. The right time to offer also plays an important role. This will avoid unnecessary mailers/calls to be ma de. Customers normally tend to ignore mass mailers and emails which are sent on regular intervals as they feel that they are junk mail. It is also important to determine the best channel of communication the customer is most likely to respond to. Valuable resources and time is saved and also frees marketing resources to concentrate on other customer and plan for newer programs. Overall, we can work with our customers on helping us improve our customer service and provide the quality service that the customers deserve. It is in this endeavor to have a sustaining model to keep the customer engaged throughout their relationship with the bank for growth and profits in the long run. 2. You are the marketing manager for a specialty retailer that sells customized handbags. Describe how the company could benefit from one-to-one marketing. The company is more likely to attract customers by offering discounted items which are automatically selected to appeal to the individual recipie nt. Once clientele is received, the personalization of offerings can be based solely upon individual purchasing records because of the simplified and repetitive nature of their business. ByShow MoreRelatedMarketing and Customer3113 Words   |  13 Pages1. Define marketing and discuss how it is more than just â€Å"telling and selling.† Marketing is managing profitable customer relationships. The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction. Hence, marketing is defined as the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Today, marketing must be understoodRead MoreMarketing And Customer Value And Marketing1556 Words   |  7 Pagesessay are to emphasis on the importance of marketing to company, explanation of the concept of customer value and how the connection of customer value and marketing is adopt by the company. In particular this essay will focus on the example of the new Fitbit Alta, an activity tracker wristband than released in March 2016. The discussion of the concept of marketing and customer value will contain discussions in relation to the presumption that marketing is an ongoing process of facilitating informationRead MoreMarketing Of Marketing And Customer Value1473 Words   |  6 Pagesbecomes important. Under this situation, the marketing plays an important role in leading the companies to correct and effective pathways. In the following part, the concept of the marketing and customer value will be explained in detail and how the relationship between them works. The importance of marketing Marketing is often defined as a series of processes for establishing, communicating and attributing value to customers and for managing customer relationships in order to benefit the organisationRead MoreMarketing : Marketing And Customer Satisfaction1980 Words   |  8 PagesBasically, marketing is a commercial connection between companies and customers that aims to engage customers and to manage the superior profitable customer relationship. The American Marketing Association (2013) defined that marketing is a set of activities of communication, distribution and exchange for creating the value for customers and society at a large scale. Like the majority of consumer markets, the automobile market has faced to the challenge of products’ overcapacity over the past decadeRead MoreCustomer Marketing Essay1235 Words   |  5 PagesYou’re getting quality traffic to your ecommerce store. Now what? As a small business owner, you’re tasked with turning those visitors into customers. It’s up to you to woo consumers into purchasing your latest items. While it may sound difficult, don’t panic. Matt Ackerson, founder of AutoGrow, offers sage advice: â€Å"Once you understand that traffic is just like energy or water and you just need to create pathways to direct it where you want it to go, the rest is easy. Don’t make the mistakeRead MoreCustomer Value Marketing1775 Words   |  8 Pagesbased on the study of â€Å"Customer Value Marketing† starts with introduction section. We have mentioned the contents of the study in objectives of the report section. The methodology section deals with the means of preparation of this report and the processes that we have followed. Then the report describes the theoretical aspects of the study in the literature review. This section mainly consists of brief description about different important topics about customer value marketing. Finally in the lastRead MoreMarketing and Customer Orientation1614 Words   |  7 Pagesterm â€Å"customer orientation† for an organisation in the context of the marketing mix. Please discuss two elements of the marketing mix and illustrate your answer with examples of products or brands of your choice. This essay is for discussing customer orientation and analysis how customer orientation works. During this essay, I will show you what is customer orientation and compare it with other different orientations. In addition, I will talk about marketing mixRead MoreMarketing Concept Of Customer Generating Marketing994 Words   |  4 PagesCustomer generating marketing has become very popular nowadays given the explosion in digital and social media. Engaging customers on a more personal interactive level is key to your bottom line. The marketing concept suggests that company strategies should revolve around creating customer value by engaging customers and building profitable relationships. In order for your company to be successful, all members of the company must participate in marketing, not just the marketing department. They mustRead MoreCustomer Value Marketing1775 Words   |  8 Pagesbased on the study of â€Å"Customer Value Marketing† starts with introduction section. W e have mentioned the contents of the study in objectives of the report section. The methodology section deals with the means of preparation of this report and the processes that we have followed. Then the report describes the theoretical aspects of the study in the literature review. This section mainly consists of brief description about different important topics about customer value marketing. Finally in the lastRead MoreCustomer Relationship Marketing1911 Words   |  8 PagesDelivering Customer Value – Customer Relationship Marketing Introduction In the past few decades Customer relationship was none existence with business organization making no effort to build relationships with its customers. But since then strong competition has forced business to form long lasting relationships with its customers, if it needs to stay in business. The term Customer Relationship Marketing first emerged during the 1990’s. It was made possible due to the advancement in IT and