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.…
Author
Drew Boyd
Released
9/20/2014You'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.
- Define marketing in an organization.
- Explain the planning process.
- Determine the scope of a marketing plan.
- Research competition and analyze products.
- Describe how to segment and target customers.
- Explain the 4Ps model.
- Understand and design distribution channels.
- Measure Key Performance Indicators.
Skill Level Beginner
Duration
Views
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Introduction
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Welcome1m 20s
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Understanding Marketing's Role
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Marketing in an organization3m 32s
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Assembling the team3m 32s
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Creating the marketing plan2m 56s
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Analyzing Your Business
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Researching the competition3m 49s
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Analyzing your products3m 19s
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Analyzing your customers3m 47s
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Analyzing the buying process4m 28s
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Analyzing your market4m 15s
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Developing Your Strategy
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Segmenting your customers4m 23s
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Targeting your customers3m 55s
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Positioning your message4m 46s
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Setting goals3m 20s
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Developing the Tactical Phase
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Understanding the 4Ps model2m 50s
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Setting prices4m 11s
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Communicating price3m 5s
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Integrating all four Ps3m 49s
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Aligning the Organization
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Educating the sales team3m 27s
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Guiding vendors and agencies3m 19s
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Launching and Measuring Your Plan
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Budgeting3m 7s
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Conclusion
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Mastering marketing thinking3m 16s
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Next steps4m 14s
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Video: Segmenting your customers