T&H Marketing Part 2

Companies nowadays are building deeper, more direct, and more lasting relationship with more selected customers with the use of technology.

Company must work closely with a variety of market partners. Working closely with others inside and outside the company to jointly bring more value and satisfaction to customers.

This step involves capturing value in return in the form of sales, market shares, and profits.

It is the total combined customer lifetime values of all the company's current and potential customers.

True or False:

Effective marketing begins with customer analysis

• True

• False, because it begins with market analysis

• Who knows

• Maybe

Divide market into distinct groups of customers (segments)

Select most attractive segments to focus your marketing efforts on.

Determine how to position your product and make it appealing for each target market.

It consists of many types of customers, products, and needs.

It is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior and who might require separate products or marketing programs.