Business Model Canvas: Defining Customers and Value
The Business Model Canvas (BMC)
A business model describes the rationale of how an organization creates, delivers, and captures value.
Customer Segments
Customers comprise the heart of any business model. Without profitable customers, no company can survive for long. In order to better satisfy customers, a company may group them into distinct segments with common needs, common behaviors, or other attributes.
Bases for Market Segmentation
Gender
Gender is one of the most simple yet important bases of market
Marketing Fundamentals: Segmentation, Brand Equity, and Key KPIs
Market Segmentation Criteria
- Location: Geographical area.
- Behavior: Seek balance between indulgence and wellness. Enjoy beer as a sensory, slow-paced experience with meals. Consume beer to relax after work or socialize casually.
- Preferences: What do they like? Preferences for low-calorie, organic, or alcohol-free beers.
- Demographic: Ages, occupation, and lifestyle.
- Psychographic: Value heritage, craftsmanship, and deep flavors. Social, laid-back, lifestyle-focused. Health-focused, modern, trend-aware.
Customer Relationship Management (CRM): Types, Models, and Strategy
Customer Relationship Management (CRM) Defined
Customer Relationship Management (CRM) is an integrated information system used to plan, schedule, and control pre-sales and post-sales activities within an organization. CRM embraces all aspects of dealing with prospects and customers, including the call center, sales force, marketing, technical support, and field service.
The primary goal of CRM is to improve long-term growth and profitability through a better understanding of customer behavior. CRM
Read MoreKey Concepts in Service Marketing: SERVQUAL and Consumer Behavior Drivers
The Service Marketing Triangle
The Service Marketing Triangle illustrates the three critical relationships necessary for successful service delivery:
Internal Marketing
The internal customers (employees) are the most critical part of the company. A service company cannot deliver value to its customers unless the internal customers are convinced and believe in the company. Companies should strive hard to inspire their employees to believe in the company’s vision and mission and act accordingly. Excellent
Key Marketing Strategies: Pricing, Research, and Advertising
Core Concepts in Marketing and Advertising
This document covers fundamental marketing and advertising concepts, from setting prices and conducting research to choosing media channels and crafting compelling messages. It also examines the broader economic impact of consumerism.
Understanding Pricing Policies and Practices
A pricing policy is the approach a company uses to price its products or services. It plays a critical role in determining a firm’s market position, profitability, competitiveness,
Marketing Intermediaries, Distribution Channels, and Promotion Strategies
Types of Marketing Intermediaries and Characteristics
Agents
The agent, as a marketing intermediary, is an independent individual or company whose main function is to act as the primary selling arm of the producer and represent the producer to users. Agents take possession of products but do not actually own them. Agents usually earn profits from commissions or fees paid for the services they provide to the producer and users.
Wholesalers
Wholesalers purchase products in bulk and store them until they
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