MyLab Marketing with Pearson eText - Access Card - for Principles of Marketing
16th Edition
ISBN: 9780133862096
Author: Philip T. Kotler, Gary Armstrong
Publisher: PEARSON
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Question
Chapter 7, Problem 7.1DQ
Summary Introduction
To discuss: The four major steps in designing the customer-driven marketing strategy.
A strategy that includes the elements for finding the market targets and reacting to the customer needs is known as customer-driven marketing strategy. The marketing strategy must be in detail in order to retain their customers.
Expert Solution & Answer
Explanation of Solution
Four major steps involved in designing the customer-driven marketing strategy are as follows:
- Segmenting the consumer market, that is to divide the whole market into smaller segments.
- Targeting the segments or the segments that they have to enter.
- Differentiation is the method, which involves differentiating the offerings made by the market in order to create a prior customer value.
- Positioning is the way in which the marketers position the market offerings in the target customers mind.
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Chapter 7 Solutions
MyLab Marketing with Pearson eText - Access Card - for Principles of Marketing
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