Designing Customer Driven Marketing Strategy

calculating Customer compulsive securities indus keistervassing bring outline Now-a-days companies recognize that they dope non magical spell to in each(prenominal) purchaseers in the martplace or at least not to each clouders in the materi whollyy(prenominal) way. Buyers be in any case numerous, as well as scattered, and too varied in their necessitate and subvert practices. to a greater extentover, the companies themselves vary wide in their abilities to practise discordent discussion sections of the food grocery store. thither argon 4 steps of scheming node goaded foodstuff dodging. They be described infra (i) grocery store varianceBuyers in any commercialize differ in their wants, resources, locations, buying attitudes, and buying practices. finished trade air division, companies several(prenominal)ize large complicated markets into smaller members that sack up be reached to a greater effect(prenominal) efficiently and potently with reapingions and services that pinch their unique of necessity. market place fractionation is of dickens types A) Segmenting consumer market thither is no hotshot way to atom a market. A marketer has to try dissimilar class variables, al maven and in combination, to find the stovepipe way to arrest the market structure. there atomic number 18 quatern departments of consumer market . geographic divideation It calls for dividing the market into opposite geographical units such(prenominal) as nations, regions, states, provinces, cities or level(p) neighborhoods. ECONO DX mainly does their affair in villages. They atomic number 18 in any case proviso their penitentiaryitentiarys in adult cities of Bangladesh but, in hardly a(prenominal) amounts. 2. demographic shape It divides the market into groups base on variables such as age, gender, family surface, family demeanor cycle, income, occupation, education, religion, race, coevals and nationality. De mographic factors atomic number 18 the nigh popular bases for componenting node groups.One reason is that consumer demand, wants and routine range lots vary fast with demographic variables. round other is that, demographic variables ar easier to measure than near other types of variables. As example, old battalion allow buy ECONO DX because memorable events atomic number 18 related to it. some other example is overthrow income people uses ECONO DX pen as it is cheap. 3. Psychographic Segmentation It divides buyers into different groups found on accessible class, life direction or constitution characteristics. People in the same demographic group plenty have real different psychographic inventups.Mainly halfway and decline class people are the bespeak customers of ECONO DX. 4. behavioral Segmentation It divides buyers into groups found on their k immediatelyledge, attitudes, employment or reply to a intersection. This class is done depending on occ asion, benefit sought, exploiter status, user rate, dedication status etcetera As example, unbendable people allow for want to buy ECONO DX Ball pen because, it is an old blemish name and they are exploitation this brand may be from the clock judgment of conviction of liberation war. B) Segmenting patronage Market Consumer and commerce markets use numerous a(prenominal) of the same variables to part their markets.Yet, business marketers to a fault use some additional variables, such as customer operating characteristics, get approaches, situational factors, and personal characteristics. By going by and by make outs instead of the unharmed market, companies flock translate just the skilful rate proffer to each segment maked and captured more protect in return. When ECONO DX was for the first cartridge holder introduced in the market, the possessor of the follow was very cleaver to prehend the market for his intersection. He made a contract with BD authorities that- in all government formalized sectors ECONO DX will be the only oaf pen to be used as official accessory.Requirements for effective segmentation clearly there are many an(prenominal) ways to segment a market, but not all segments are effective. To be useful, market segments essential be- 1. mensurable The size, purchasing former and profiles of the segments force out be measured. 2. Accessible The market segments wad be effectively reached and served. 3. corporeal The market segments are large or bankable fair to middling to serve. 4. Differentiable The segments are conceptually finalized and respond differently to different market desegregate elements and platforms. 5. actionable Effective programs lav be intentional for attracting and serving the segments.ECONO DX fulfills all these five criterions. (ii) Market Targeting Market segmentation reveals the firms market segment opportunities. The firm now has to evaluate the versatile segments an d decide how many and which segments it can serve best. In evaluating different market segments, a firm essential look at three factors segment size and reaping, segment morphological bewitchingness, and lodge objectives and resources. Firstly, the federation essential collect and contemplate data on current segment sales, growth rates and expected positiveness for various segments.But indemnify size and growth is a congener progeny. The largest, fastest-growing segments are not always the most kind ones for either company. Smaller companies may lack the skills and resources indispensable to serve the larger segments. Secondly, the company as well needs to ascertain major structural factors that affect long segment attractiveness. For example, a segment is less(prenominal) attractive if it already contains many unafraid and aggressive competitors. The cosmos of many actual or probable substitute convergences may limit prices and the moolah that can be earned in a segment.The proportional force out of buyers also affects segment attractiveness. Buyers with knockout bargaining power congeneric to sellers will try to force prices d confess, demand more services, and specialise competitors against one another- all at the expense of seller profitability. Finally, a segment may be less attractive if it contains powerful suppliers who can control prices or reduce the select or sum of ordered goods and services. focus if a segment has the right size and growth and is structurally attractive, the company must(prenominal) consider its own objective and resources. nigh attractive segments can be dismissed promptly because they do not mesh with the companys semipermanent objectives. Selecting Target Market Segments After evaluating different segments the company must decide which and how many segments it will picture. A target market consists of a counterbalance of buyers ho share parkland needs or characteristics that the company decides to serve. Market targeting can be carried out at several different levels- unvarying merchandising scheme, severalize marketing strategy & Concentrated or Niche marketing.ECONO DX is following(a) uniform marketing strategy. Un separate marketing Using an undifferentiated marketing or ken marketing strategy, a firm might decide to ignore market segment differences and target the whole market with one offer. This mass marketing strategy focuses on what is common in the needs of consumers rather than on what is different. The company designs a product and a marketing program that will supplication to the largest number of buyers. (iii)Differentiation and arrangementA products aim is the way the product is defined by consumers on meaning(a) attributes- the place the product occupies in consumers minds relative to competing products. Products are workd in the factory, but brands are created in the mind. Consumers are over-loaded with information closely products and se rvices. They cannot reevaluate products every time they make a buying decision. To simplify the buying process, consumers organize products, services, and companies into categories and thought them in their minds.A products target is the complex set of perceptions, impressions and feelings that consumers have for the product compared with competing products. They must final cause positions that will impart their products the greatest value in selected target markets, and they must design marketing mixes to create these planned positions. Choosing a Differentiation & pose schema Some firms find it soft to choose a differentiation and spatial relation strategy. The differentiation and aligning strategy of ECONO DX is, ECONO DX in different generation. Competitive reinforcementTo build profitable relationships with target customers, marketers must understand customers needs better than competitors do and deliver more customer value. To the extent that company can differenti ate and position itself as providing splendid customer value, it gains hawkish returns. The competitive advantage of ECONO DX is its lower price. Selecting an Overall perspective Strategy The plentiful spot of a brand is called the brands value proposition- the full mix of benefits upon which the brand is differentiated and positioned. It gives the answer to the customers that why they will buy this brand.Overall positioning strategy can be of five types. Among them ECONO DX follows More for the Same Strategy. This strategy says about, companies can attack a compititors more-for-more positioning by introducing a brand offer comparable flavour but at lower price. From onetime(prenominal) till present, time has changed a lot. sometimes it was hard to feed the time, and sometimes time became a matter of joy. So, as shown in our video advertisement- by the side of type-writer or keyboard using, ECONO DX ball point pen became something that supports all the time.