PART 2

• Marketing orientation

  A business approach that focuses on meeting the needs and wants of customers through effective marketing strategies
• Marketing-oriented company

  • Primary goal is to understand the needs and preferences of target customers and then develop products, services, and marketing campaigns to satisfy those needs better than competitors
• Main components of marketing orientation

  • Customer Focus
  • Competitor Awareness
  • Cross-functional coordination
• Customer Focus

  Marketing-oriented companies prioritize understanding their customers' needs, desires, and preferences. They conduct market research, gather customer feedback, and analyze consumer behavior to gain insights into what drives purchasing decisions. By putting the customer at the center of their business strategy, they aim to create value and build long-term relationships with their target market.
• Competitor Awareness


  Marketing orientation involves keeping a close eye on competitors and understanding their strengths, weaknesses, strategies, and market positioning. By monitoring the competitive landscape, companies can identify opportunities for differentiation, innovation, and strategic positioning to gain a competitive advantage in the marketplace.
• Cross-functional coordination


  Marketing orientation requires collaboration and alignment across different departments within the organization, including marketing, product development, sales, and customer service. Cross-functional teams work together to ensure that the company's offerings meet customer needs effectively and deliver a consistent and positive customer experience across all touchpoints.
• Marketing segmentation


  Dividing a broad target market into smaller, more manageable segments based on specific characteristics, preferences, behaviors, or needs. This approach allows businesses to tailor their marketing strategies and offerings to better meet the distinct needs of each segment, thereby maximizing the effectiveness of their marketing efforts.
• Types of marketing segmentation

  • Demographic Segmentation
  • Psychographic Segmentation
  • Behavioral Segmentation
  • Geographic Segmentation
  • Usage-Based Segmentation
• Demographic Segmentation


  Divides the market based on identifiable demographic factors such as age, gender, income, education, occupation, marital status, and family size. Demographic segmentation is one of the most common and straightforward approaches to segmenting markets because demographic characteristics are relatively easy to measure and often correlate with consumer behavior and preferences. Companies use demographic segmentation to target specific customer groups with products, services, and marketing messages that align with their demographic profiles.
• Psychographic Segmentation


  Divides the market based on consumers' lifestyle, personality traits, values, beliefs, interests, attitudes, and behavior patterns. This approach focuses on understanding the psychological aspects that influence consumer decision-making and preferences. Psychographic segmentation allows companies to target consumers based on their lifestyles, aspirations, and psychographic profiles, enabling them to create more personalized and emotionally resonant marketing campaigns and offerings.
• Behavioral Segmentation


  Divides the market based on consumers' actual behavior, usage patterns, purchasing habits, brand loyalty, and product preferences. This approach focuses on understanding how consumers interact with products and brands, their purchase motivations, and the benefits they seek. Behavioral segmentation helps companies identify different customer segments based on their buying behavior and tailor their marketing strategies accordingly, such as offering loyalty rewards to frequent customers or targeting occasional buyers with special promotions to encourage repeat purchases.
• Geographic Segmentation


  Divides the market based on geographic factors such as region, city, country, climate, population density, and urban-rural divide. This approach recognizes that consumer needs, preferences, and behaviors may vary depending on their geographic location. Geographic segmentation allows companies to target specific regions or local markets with products, services, and marketing messages tailored to the unique characteristics and preferences of consumers in those areas, such as offering different menu items in regions with distinct culinary traditions or adapting marketing campaigns to reflect local customs and festivals.
• Usage-Based Segmentation


  Divides the market based on consumers' usage patterns, consumption behavior, product usage frequency, purchase volume, or level of engagement with a product or service. This approach focuses on understanding how consumers use or interact with products and services and their specific needs and preferences related to usage. Usage-based segmentation helps companies identify different customer segments based on their usage patterns and develop targeted marketing strategies to address their specific needs, such as offering different pricing plans for light and heavy users or creating personalized recommendations based on past purchase behavior.
• These segmentation approaches provide companies with valuable insights into their target markets, allowing them to identify and understand distinct customer segments and develop more effective marketing strategies to reach and engage with their target audience. By tailoring their offerings and messages to the unique needs and preferences of different customer segments, companies can improve customer satisfaction, increase brand loyalty, and drive business growth.