MKT 100 Chapter : Module Five

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Richard Michon

Document Summary

Customer focus is about how you focus your efforts to attract, serve and retain customers, and which customers you focus on with such efforts. Product/service positioning: how you focus your efforts to serve customers. Focusing on profitable customers, superior analysis of their needs and fitting your offering to their needs and benefits sought are key elements of competitive thinking. Take the variation in demand across all consumers and cluster it into segments where demand varies a lot between segments. We do this intuitively or by statistical cluster analysis of customer information that we have in a data-base. Geographic: world region, climate zone, local weather, trading block, country, country region, state, province, country, city, suburb, city block, town, village etc. Demographic: genetics, body type, physical handicaps, height, weight, age, life-stage, cohort, family size, religion etc. Psychographic: life-style, interest, hobbies, personality, sociability, social class, values etc.