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

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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.

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