MKTG 2030 Chapter Notes - Chapter 3: Psychographic, Psychological Types, Dental Floss
Document Summary
Chapter 3 choosing which customer to serve. Segmenting customers is important to business strategy: market segmentation - mass marketing - presenting the same offer to all customers. Danger 1: the business ignores customer needs and treats all customers the same. Ignore the fact that different customers have different needs: ends up satisfying no one, leaves room for competitors to enter the market and take over. Danger 2: the business wastes resources: will either over serve or under-serve its customers. Danger 3: the business tries to be all things to all people: does not give it a unique or differentiated position in the market, does not give its customers a reason to do business with them. Danger 4: the business is not giving the sales force any direction: salespersons will not know who to target, do not know what to offer and what to withhold.
