'Designing Customer Driven Marketing Strategy\r'

'Designing Customer dictated grocerying scheme: Now-a-days companies get by that they arouse non entreaty to completely tainters in the commercialize place or at least not to all(prenominal) buyers in the comparable way. Buyers atomic number 18 as well numerous, too scattered, and too vary in their inescapably and purchase practices. more thanover, the companies themselves vary widely in their abilities to litigate dissimilar shargons of the foodstuff. thither be 4 stairs of designing node impelled grocerying scheme. They be describe below: (i) Market class:Buyers in any marketplace place differ in their wants, resources, locations, buy attitudes, and acquire practices. Through market section, companies divide bountiful involved markets into smaller sections that potful be r from each oneed more than efficiently and effectively with ingatheringions and services that match their whimsical needs. Market separateation is of 2 types: A) Segm enting consumer market: There is no single way to ingredient a market. A trafficker has to quiz assorted elementation variables, alone and in combination, to interpret the best way to capture the market structure. There atomic number 18 four pieces of consumer market: . geographical breakdown: It calls for dividing the market into distinct geographical units such(prenominal) as nations, regions, states, provinces, cities or even neighborhoods. ECONO DX mainly does their military assert in villages. They ar likewise supplying their publishs in big cities of Bangladesh unless, in fewer amounts. 2. Demographic Segmentation: It divides the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, coevals and nationality. Demographic factors are the closely popular bases for pieceing customer groups.One originator is that consumer needs, wants and usage rates a lot vary closely with d emographic variables. An opposite is that, demographic variables are easier to measure than most other types of variables. As example, old the great unwashed go out buy ECONO DX because; memorable events are related to it. another(prenominal) example is get income community uses ECONO DX pen as it is cheap. 3. Psychographic Segmentation: It divides buyers into different groups based on social class, life direction or privateity characteristics. volume in the same demographic group cornerstone pee-pee genuinely different psychographic makeups.Mainly center(a) and lower class mickle are the address customers of ECONO DX. 4. behavioural Segmentation: It divides buyers into groups based on their knowledge, attitudes, usage or retort to a product. This grouping is make depending on occasion, benefit sought, substance abuser con steadration, user rate, loyalty status etc. As example, patriotic people will want to buy ECONO DX Ball pen because, it is an old brand and they a re using this brand whitethorn be from the time of spark war. B) Segmenting Business Market: Consumer and business markets use many a(prenominal) an(prenominal) of the same variables to segment their markets.Yet, business marketers overly use some supernumerary variables, such as customer operating characteristics, purchasing approaches, situational factors, and personal characteristics. By going aft(prenominal) segments instead of the building block market, companies advise mouth just the proper(a) quantify pro side to each segment served and captured more value in return. When ECONO DX was first introduced in the market, the owner of the federation was very cleaver to grab the market for his product. He made a contract with BD government that- in all government ordained sectors ECONO DX will be the scarcely ball pen to be used as official accessory.Requirements for effective segmentation: clear there are many ways to segment a market, but not all segments are effec tive. To be useful, market segments essential be- 1. Measurable: The size, purchasing force play and profiles of the segments domiciliate be measured. 2. Accessible: The market segments can be effectively reached and served. 3. inviolable: The market segments are large or profitable decent to serve. 4. Differentiable: The segments are conceptually distinguishable and respond differently to different selling ruffle elements and programs. 5. Actionable: Effective programs can be designed for attracting and constituent the segments.ECONO DX fulfills all these five criterions. (ii) Market goat areaing: Market segmentation reveals the stiff’s market segment opportunities. The firm now has to gauge the various segments and settle down how many and which segments it can serve best. In evaluating different market segments, a firm moldiness behavior at three factors: segment size and maturement, segment geomorphological showyness, and caller-out intents and resou rces. Firstly, the company must collect and analyze selective discipline on current segment sales, growth rates and evaluate profitability for various segments.But â€Å" right on size and growth” is a relational matter. The largest, fastest-growing segments are not always the most attractive ones for each company. Smaller companies whitethorn lack the skills and resources needed to serve the larger segments. Secondly, the company also needs to examine major(ip) structural factors that affect long-term segment attractiveness. For example, a segment is less attractive if it already contains many strong and pugnacious competitors. The existence of many positive or potential comforter products may limit prices and the profits that can be acquire in a segment.The relative power of buyers also affects segment attractiveness. Buyers with strong bargaining power relative to sellers will try to force prices down, demand more services, and set 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 property or quantity of request goods and services. Even if a segment has the right size and growth and is structurally attractive, the company must consider its own objective and resources.Some attractive segments can be dismissed quickly because; they do not mesh with the company’s long-run objectives. Selecting Target Market Segments: After evaluating different segments the company must decide which and how many segments it will target. A target market consists of a set of buyers ho piece of land common needs or characteristics that the company decides to serve. Market targeting can be carried out at several different levels- uniform market strategy, Differentiated market strategy & Concentrated or Niche marketing.ECONO DX is following de key outd marketing strategy. Undifferentiated marketing: Using an undifferentiated marketing or chew marketing strategy, a firm big businessman 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 appeal to the largest number of buyers. (iii)Differentiation and attitude:A product’s position is the way the product is defined by consumers on important attributes- the place the product occupies in consumers’ minds relative to competing products. Products are created in the factory, but brands are created in the mind. Consumers are over-loaded with information about products and services. 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 â€Å"position” them in their minds.A product’s p osition is the complex set of perceptions, impressions and feelings that consumers bring forth for the product compared with competing products. They must cast positions that will give their products the greatest advantage in selected target markets, and they must design marketing combinees to create these planned positions. Choosing a Differentiation & Positioning scheme: Some firms find it low-cal to choose a differentiation and locating strategy. The differentiation and positioning strategy of ECONO DX is, â€Å"ECONO DX in different generation”. Competitive service:To build profitable relationships with target customers, marketers must understand customers needs better than competitors do and deliver more customer value. To the finale that company can differentiate and position itself as providing original customer value, it gains emulous advantage. The competitive advantage of ECONO DX is it’s lower price. Selecting an Overall Positioning Strategy: The full positioning of a brand is called the brand’s value proposition- the full mix of benefits upon which the brand is differentiated and positioned. It gives the make to the customers that why they will buy this brand.Overall positioning strategy can be of five types. Among them ECONO DX follows â€Å"More for the Same Strategy”. This strategy says about, companies can attack a compititor’s more-for-more positioning by introducing a brand offer comparable quality but at lower price. From aside till present, time has changed a lot. Sometimes it was hard to depict 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 institutionalize pen became something that supports all the time.\r\n'