Question

How does a marketer design a customer value-driven marketing strategy including marketing segmentation, targeting, differentiation and positioning.

Answer 1

Solution:-A marketer design a customer value-driven marketing strategy including marketing segmentation, targeting, differentiation and positioning these are four major steps in designing a customer-driven marketing strategy:

• Market Segmentation:Involves dividing a market into smaller groups of buyers with distinct needs, characteristics or behaviors that might require separate marketing strategies or mixes.
• Market Targeting:Consists of evaluating each market segment's attractiveness and selecting one or more market segments to enter.
• Positioning:Consists of arranging for a market offering to occupy a clear, Distinctive and desirable place relative to competing products in the minds of target consumers.
• Differentiation:Involves actually differentiating the firm's market offering to create superior customer value