Join Drew Boyd for an in-depth discussion in this video Segmenting your customers, part of Marketing Foundations.
- If you've been following along with the…earlier videos in this course, at this point…of the marketing planning process,…we've completed the analysis phase.…We know a lot about our customers.…We've estimated our market…and where the most potential is.…We understand our competition…and we know how our products and…services perform versus theirs.…It's time to start the strategic…phase of our planning.…To create a marketing strategy,…you have to perform three steps.…First is segmentation, where you break…your customers into homogeneous groups.…
Next is targeting, where you decide…which of these segments to go after.…And finally is positioning,…where you determine how you want…your customers to think about…your products versus the competition,…so they're more likely to buy yours.…Let's focus first on segmentation.…Breaking customers into groups helps you…be efficient with your marketing resources.…It helps you focus only on…the most relevant customers,…and avoid wasting time and money…on the less relevant.…
There are four ways to segment a market.…
You'll also learn to address tactical challenges and present the plan to get buy-in throughout an organization, from the C-suite to the sales team, as well as use the marketing plan to guide outside agencies and vendors. Finally, you'll learn how to launch the campaign and measure its performance.
- Marketing in an organization
- Assembling the team
- Creating the marketing plan
- Analyzing your products, customers, and market
- Segmenting customers
- Creating a value proposition
- Developing a strategy
- Setting goals
- Setting prices
- Using social media
- Presenting your plan to leadership
- Budgeting your plan
- Measuring success
Skill Level Beginner
Business Writing Principleswith Judy Steiner-Williams1h 32m Beginner
Understanding Marketing's Role
Analyzing Your Business
Developing Your Strategy
Developing the Tactical Phase
Aligning the Organization
Launching and Measuring Your Plan
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