CONSUMER BEHAVIOUR

CREATING MARKETING STRATEGIES FOR CUSTOMER CENTRIC ORGANISATION

CONSUMER IS KING

Increasing competition Limited wallet share Information burst Consumer forums

STRATEGY

Marketing Strategy is the determination of a companies' objective, the selection of its target markets, the development of an appropriate marketing mix for each, and the allocation of the resources necessary to achieve its goals.

Customer-centricity is a strategic commitment to focus eve customers.

WHAT BUILDS CUSTOMER-CENTRIC ORGANIZATION

Shared vision and values. Cross functional integration. System-wide simulating training. Customer-based metrics.

FROM MARKET ANALYSIS TO

MARKET STRATEGY : WHERE DOES CONSUMER BEHAVIOUR FIT ?

Selecting avenues for delivering superior value to customers

Positioning the organization and its brand Nurturing collaborative relationships with

customers, suppliers, distribution, and competition .

COUSTOMER-CENTRIC MARKETING STRATEGY

MARKET ANALYSIS

Customer insight and product development Consumer Environment Corporate strength and resources Current and potential competitors Market environment

MARKET SEGMENTATION

Identifying segments Address the need of market segment Profitability of market segment Criteria for choosing segments

HOW TO SEGMENT CONSUMER MARKETCONSUMER CHARECTARISTIC

demographic

Age Education Marital status

Gender Family size Occupation

Ethnicity Nationality Religion

Income Life stage Living arrangement

Psychographics

Activities Interests Opinions

Purchase and consumption behaviors

Shopping location preferences

Brand loyal

Frequency of purchase Benefit sought

Media used How used

Price sensitivity Rate of use

Values

Culture

Personality

GEOGRAPHIC CHARECTARISTIC

National boundaries

State and religion boundaries

Urban versus rural

Zip code

SITUATIONAL CHARECTARISTIC

Work Vs leisure time

Time

Where used

MARKET MIX STRATEGIES

Product Price Place Promotion Brand strategy

THE 7R OF THE MARKETING MIX

Research Rate Resources Retailing Reliability Reward Relationship

CUSTOMER LOYALITY AND RETENTION STRATEGIES

Customer Relationship Management (CRM)

Appropriate research for identifying the benefits

Testing them for prospective customer interest and effectiveness

Following up with further research once implemented to make certain that the loyalty program's benefits are working

CUSTOMER RELATIONSHIP MANAGEMENT (CRM)

Make individualized marketing a reality Institute a total quality control policy Introduce an early warning system to identify

problems Build realistic expectations Provide guarantees

GLOBAL MARKETING STRATEGY

Source of demand Source of supply Method of effective management and

marketing

GLOBAL MARKETING STRATEGY

Global market analysis and strategy Standardized marketing Inter market segmentation Localization based on differences Global marketing Overcoming language problem

GLOBAL BRAND

One brand for whole world Creating relationship with all consumer of the

globe Big marketing budget with which to establish

their brand Understanding consumer need and fulfilling

their demand