Study Notes for Business Segmentation Bases

Business Behavior, Segmentation, Segmentation, Targeting and Positioning / By

What is a business segmentation base?A business segmentation base is definable characteristics or behavior of organizations that can be utilized to classify the organizations into related groups, for the purpose of target marketing.Main business segmentation bases (with examples)Geographic location/s: Where the business operates. Examples: Countries, regions, spread of operations across areasBusiness description: Basic description of […]

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Classifying business products

Business Behavior, Product Mix / By

Just in the same way that consumer products can be classified into similar categories of products, business or industrial products can also be classed together. These classification schemes are helpful for marketers to understand the fundamental marketing challenges of the products that they manage.In both sets of classification schemes – consumer products and business/industrial products

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Why Use a Brand Persona?

Consumer Behavior, Customer Relationship Management, Promotion Concepts, Segmentation, Targeting and Positioning, Services Marketing / By

Brand personas are commonly used in customer journey mapping, but are generally helpful in most aspects of marketing strategy development. This is because a brand persona – which is a representation of the typical customer in a target market – helps the firm more clearly understand the consumer.Generally firms will develop multiple brand personas –

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Brand Personas

Consumer Behavior, Customer Relationship Management, Promotion Concepts, Segmentation, Targeting and Positioning, Services Marketing / By

Using Brand Personas in Customer Journey MappingA fundamental principle of modern day marketing is to segment the market and select appropriate target markets. For more information on the market segmentation process, please refer to the market segmentation study guide.Target markets are smaller parts of the overall market, where consumers are grouped into sets of similar

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Main phases of a customer journey

Consumer Behavior, Customer Relationship Management, Promotion Concepts, Services Marketing / By

Three main phases of a customer journeyCustomer journeys, particularly for high involvement purchases, may take years to lead to a purchase decision. For example, a young consumer buying their first brand new car would have years of experience of seeing cars, seeing promotional campaigns and product placement, being involved in discussions regarding motor vehicles, using

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What is a customer journey?

Consumer Behavior, Promotion Concepts, Services Marketing / By

What is a customer journey?As the name implies, a customer journey is the series of steps undertaken by a consumer (that is, a non-customer of a brand) in their journey to becoming a customer of the brand. A consumer’s journey will include gathering information, reviewing marketing communications, visiting stores, reviewing product information, looking at competitor

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