• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

P5 Explain how and why groups of customers are targeted for selected products

Extracts from this document...

Introduction

Task 8 P5: Explain how and why groups of customers are targeted for selected products The difference between customers, customers and buyers Customers and consumers A customer is a person who buys a product, e.g. you are a customer when you buy any product from a store for example. Whereas a consumer is a person who consumes a product bought for example you are a consumer if you eat a chocolate that has been bought. A customer can also be a consumer sometimes, for if someone buys some sweet and eats them, this person will be a consumers as well as a customer Buyers A Buyer is anyone who has the abilities to buy products or services and since customers are people who buy products, they can be called buyers unlike consumers. Importance of identifying who has influence over purchasing decisions It is really important for marketers to be able to know what customers want by identifying their behaviours because when they know what the customers want then they will be able to target them better and to satisfy customer?s needs with their products. When identifying buyers? behaviour it is also important to know the needs of the customers because it is what helps to better identify the buyers behaviour. ...read more.

Middle

Region Region is another fact that can influence segmenting of a business for example some businesses focus their selling effort according to their geographical location Value Value is another factor that can be used of segment businesses Public, private and voluntary sectors Businesses can also be segmented on according to what sector they operate in, for example, the Public, private or voluntary sector. Selling businesses in the public sector means that you have to follow a complicated process. This will involve that the selling business will have to go through a process of applying to be able to provide products and services and will still have to face competition. Products Product is a factor by which a business can be segmented, and this means that the particular type of product can be used in different ways. In this case, customers are split into groups according to their particular use of that products or service Industry Segmentation can also be done by businesses as there are industrial industries that are likely to use certain type of products or service. For example wholesalers can serve products to three different segments such as grocers, pubs and caterers. Benefits for different member of the DMU Cost Benefits Deciders are the one concerned with the cost benefits because they want to ...read more.

Conclusion

NatWest was established in 1968 by the merger of National Provincial Bank (established 1833 as National Provincial Bank of England) and Westminster Bank (established 1834 as London County and Westminster Bank). The target group / who are they? As a retail and commercial bank, they mostly target small businesses, people who want to start up their businesses i.e. (couples). They also target different retailers who may need help. How the target group has been selected NatWest targets their selected group by making TV adverts, radio advertisement, brochures and also deals for those who switch to them. Why NatWest targets these particular customers? NatWest targets their particular group help them start their own independent businesses by providing with finance start ups, Booker?s cash and carry An introduction to the company Booker?s cash and carry is a branch of the Booker group which is the largest food wholesaler in the UK. The target group / who are they? They target small businesses like corner shops, pubs, bars etc... They target independent retailers, people, for anyone needing cash How the target group has been selected? They target their target groups by making online adverts, radio adverts, Why booker?s cash and carry targets these particular customers? They target these groups to offer them the financial needs ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Marketing & Research section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Marketing & Research essays

  1. Marketing Travel and Tourism products and services

    The companies within this sector needs to be aware of the external constrains when they run their business factors that comes outside of their direct control for example PEST which stands for Political, Economic, Social and Technological factors. Political Political factor is important in travel and tourism industry and it

  2. Marketing Research. Explain how different marketing research methods have been used to make a ...

    Armor All Clean and Shine Car Wipes (pack of 5) are sold at �3.29 at Halfords10 and sold for �2.99 at Mileshams11. It would also be very useful to look at the population of the local area and how many people are car owners and try to find information from national statistics to see how big the potential market is.

  1. BTEC BUSINESS UNIT 2

    If the company does well then the reputation of the company will continue to go up this will mean that the company will get more and more customers. This will mean that the company will grow and consequently they will get more revenue leading to increased profitability.

  2. Describe with reference to different customer service functions, the different methods used to attract ...

    Also, building relationships is something that has to be done before the transaction can be made so that they understand why customer service is so important to an organisation such as McDonalds. McDonalds offer their employees with incentives such as a pay-rise or a promotion in position if employees deliver good customer service on a consistent basis.

  1. This assignment will be evaluating the contribution of relationship marketing activities and will also ...

    The positives aspect for an organisation such as McDonalds implementing this method is that it allows McDonalds to target specific customers according to McDonalds own personal database. If McDonalds were to introduce a new product to the market, they are able to target the customers that would be more likely

  2. For this assignment I have been asked to produce a new marketing strategy for ...

    of profit but do not do a lot of promotion, which makes it have a low market share. Question Marks Question Marks are businesses or products with low market share but which operate in higher growth markets. This suggests that they have potential, but may require substantial investment in order

  1. business planning unit 8

    The prices need to be reasonable and affordable, as this will get the customers to try out the product. Consequently if the prices are affordable there's a high chance of customers wanting to try out the product. Therefore once they buy galaxo only then will they return to purchase it again.

  2. Business Studies Company Profile

    There is also an apprenticeship program run by BMW, which employs 16 year olds, after they have done their GCSEs. This program provides money, jobs and certificates of achievement, BMW look after their employees quite well, they provide many training opportunities for their employees, this works in two ways, it

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work