Question

Among the roles of marketing there is the identification of customers. Explain how can marketers fulfill this role?

What does make a difference between commercial approach and marketing approach?

Answer 1

Identification of customers are done based on the need assessment excercise done by the marketing team. The product value proposition should be relevant to the customers then only customers will buy the product. This is done by the segmentation of customers. Each segement represent the substantial and homogenous customers to whom marketer target for the positioning of the product. Therefore with the help of segmentation of customers based on demographic, geographic or pshychographic variable the customers are identified and segmented in to various target segments.

Commercial approach is a short term approach where with the help of pricing or discounts sales is achieved while the marketing approach is quite long term approach where with the help of brand building excercise the product's value propositon is enhanced and the product commands its price as per their value proposition and as the brands matures some products even demand the premium in the market.