MGMA01H3 Lecture Notes - Lecture 5: Risk Management, Cluster Analysis, Psychographic

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One of the most important contributions of marketing to business. A necessary component of the outward orientation. The customer analysis process consists of three phases: The basis or response variable must capture the differences across consumers. Then use the descriptor variables to build profiles of the segments. The endeavor is to put people with the same need in the same segment. Bases: benefits, usage rates, brand loyalty, service level, sensitivity to 4 p"s, decision rules, usage situation. Demographics: age, income, gender, family size, marital status, social class. Media patterns: level of use, types of media used, times of use, etc. Decision making: individual or group choice, low or high involvement purchase, attitudes and knowledge about product class. Bases: benefits, solutions to problems, usage rates, usage situation, service levels, sensitivity to. Operating variables: company technology, product & brand use status, customer capabilities. Purchasing approaches: purchase function organization, power structures, buyer-seller relationships, purchase policies, purchase criteria.

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