Leone Electric Services Of Leone

There are different reasons that business need to segment their markets carefully, this is because customers vary, so creating various segments will provide customers with better solutions. It can bring better opportunities and growth for the business.

The customer analysis segment of the marketing plan provides for a description of the consumer base. This entails a detailed analysis of the customers who are most likely to buy your product. Typically, this analysis consists of information related to the purchasing habits of the customers as well as data on the characteristics of consumers such as age, gender, lifestyle, and income. These consumer characteristics will be used to divide, or ”segment” the market, allowing for more direct access and further analysis.

One of the first approaches to help understand who the customers are is building customer profiles. Customer profiles are used to describe a customer and are typically used in the marketing

The first step to understand their clients is segmenting and identifying customer’s attributes such as demographics, geographic, psychographics or behavioural, using as source of information: internal (case study/intuitive) and secondary data researched on Australian Bureau of Statistics (ABS) and marketing textbooks.

Following the segmentation process, a target marketing strategy was implemented to select the most valuable customer segments.

The reasons as to why a business has to segment its market is because of the customers differential in the;

Strategic marketing has been defined by Ansoff and McDonell (1990) as the process of positioning the organization to its environment in a way that helps it obtain success and insures it against future obstacles (Ansoff & McDonell, 1990). This is an important element in achieving successful organizations despite the constantly changing environment and customers’ needs. As stated by Tomb & Seamons (2013), a company needs 4 steps of processes in order to create high customer value and achieve profitable customer relationships, segmentation, targeting, differentiation, and positioning. This process will help decides which customers they will serve through segmentation and targeting

There are different types of customers in the market, part of the business plan is to divide and concentrate on market strategies, which can be achieved by Segmentation, targeting and positioning (Chamber & Gray, 2010).

In this block, the market segments should be defined (can be one or more), based on their needs, how to reach them, what kind of relationship should be established with each segment, their profitability levels and if they are willing to pay extra for different aspects of the offer. The business model should clearly choose which segments to serve and which to ignore.

In order to determine the type of consumers that your business wants to develop a business relationship with we must first develop a target market to determine the type the segment of the population in the area that would be interested in the type of business that you offer. I believe that developing a marketing penetration strategy coupled with a market development strategy would give the company an advantage in evaluating the current market risks and opportunities in order to position the business in the best possible entry into the market. Moreover, by conducting marketing penetration strategy we would be able to current customers that the competitors in the area are servicing. Additionally, we would utilize a market development strategy would allow us to analyze the segment of people that either decided not to buy your competitors products or have not thought about the benefit that this service would provide them by purchasing this type of service.

Organisation realises that if they are not able to understand the overall details of their customers, it results in the loss of sales and customers. Currently, we are in the era of customer – oriented market, manufacturers and organisations are looking to identify ways to create products which will enable them to compete against their competitors. Market segmentation is very vital for the business and marketers, as it enables them to classify the customers based on behavioural, psychographic and profile etc.

Organizations may not be able to serve all customers in a market, therefore need to identify groups of customers to serve effectively

Leone Electric (Leone) is a new Company in the market that provides building electrical services to both domestic and commercial properties. It is registered with NAPIT (National Association of Professional Inspectors and Testers), who are an approved ‘Competent Person Scheme’. NAPIT members must be supervised by a skilled electrician who has full knowledge of Regulations (BS7671) to current 17th edition standards (IEE, 2002). Secondly, members have to issue an Electrical certificate, that complies with current regulation standards for the work they have installed (IEE, 2008).In addition, NAPIT will supervise all their members work and provide a quality guarantee to their members customers (NAPIT, 2007).

“Customer is the heart of every business model. Without customers (who bring in the revenue), an organization cannot survive in the long term,” once said Osterwalder (2010). Therefore, according to Osterwalder’s Business Model Canvas, in order to serve customers’ satisfaction, an organization can divide customers into many groups according to their needs, behaviors, and other qualifications. Customers would be divided according to the following situations;

First and foremost, I would like to express gratitude to NLDC, Power System Operation Corporation Ltd (POSOCO) for providing me a magnificent opportunity in the form of this dissertation to learn.