Customer segmentation basically deals with the exercise of making groups and further sub groups of the customers depending upon their different needs. It is the making of sections of consumers based on their specific behavior and needs, so that we could easily target them. The objective behind customer segmentation strategy is to integrate the market into the sets of individuals that shows similar behavior. These sets are designed on the basis of various characteristics like gender, age group, their likings and dis-likings, the interest levels, their buying habits and many other characteristics, etc. Customer segmentation is also known as client segmentation, which is developed to make better customer relationships with them.
Archives for June 2016
International business is basically referred as selling your product in other countries and expanding your business worldwide instead of just focusing on the domestic market. It means trading your product globally by making your entry across the borders. In International business you make your products and services to satisfy the customer in all over the world instead of just focusing on local consumers. It is basically defines as the unit called becoming multinational or having an international business brand.
Marketing planning process is basically a set of steps that provide guideline about how to market and sell your product in the market within a specific period of time. It involves which promotional strategies to be adopted to make your product best seller in the future. Marketing planning process consist of the tactics and marketing techniques that you have to assume for achieving your marketing goals within the required time period.
Penetration pricing is the market concept adopted for a new product to be launched in a market with low prices, so that it may penetrate in the market and can gain its position among-st the rivals. This strategy is implemented by the marketers for achieving the high ratio of sale for their new product by keeping it economical. By using this idea you can diffuse new product in a previously existed market in which there are huge rivals. You can keep your price low and compete in the market.
Public service advertisement is a type of marketing that is circulated in the market without any cost and is for the public welfare. These are designed and broadcast for the societal improvements and for collective wellbeing of community as a whole. Also these are broadcast by the mass media to let the general public know and inform about the social matters. Along with the attraction the public service advertisement always have some specific purpose behind its agenda. Public service advertisement evolved after the First World War and instead of making money, it is for covering some specific agenda and to resolve some societal problem in a disguised form.