EBK PRINCIPLES OF MARKETING
EBK PRINCIPLES OF MARKETING
16th Edition
ISBN: 9780133850697
Author: Kotler
Publisher: VST
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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.

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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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