Customer Segmentation, Consumer Buying Decision, and Customer Relationship Management for a Company'

Task:

Evaluate a company’s approach to customer segmentation and targeting, explain customer buying decisions and the role of various factors on the consumer’s buying decisions and discuss how a company builds customer loyalty and engagement.

This assignment is a continuation from Assignment #1. For the company that you selected in Assignment #1, select one product item or product line that the company produces. It may be more appropriate to choose a product line if the company has many products, and a product item if the company sells only a limited number of products.  For example, If your company was Nike, you could select Basketball Shoes as a product line.  If your company was Tesla, you could select a specific model of vehicle as a product item. 

Tim Hortons Apple Inc. Nike Tesla

Coca-Cola Samsung Adidas Frito-Lay

Prepare a written report that answers the following questions. Organize your report by using the same question numbers and headings as outlined below:

Please answer the following questions:

a.Utilizing the Template provided in eCentennial, entitled, Segmentation Variables Template, for the specific product item or product line you have chosen, create a segment for it by filling in the template and explain what bases the company uses for this segment using concise but specific bullet points. 

Commonly used segmentation bases (as discussed in class) are geography, demographics, psychographics, benefits sought and usage rates.  Fill in the template completely - if a base is not relevant, you must explain why it is not used.  Review chapter 8, section 8-3 to support your answer as to the characteristics of segmentation.

b.Give your single segment a descriptor (name) and summarize in a single sentence the segment you have created.

a.What cultural, social, individual and psychological factors are impacting the purchasing decision-making process for your segment? Explain why and how these factors impact the consumer’s decision to purchase your selected product item or product line. These factors are summarized in Exhibit 6.3 and throughout chapter 6.

a.Your company will want to ensure customers remain loyal and are engaged with the product and company. As discussed in class, building a strong relationship and trust with consumers are important factors to building loyalty. What strategies, techniques and technologies does your company use to build customer relationships, strengthen customer engagement , build trust and keep customers loyal? 

Some ideas to consider when answering this question, but not limited to just these question - Does your company use CRM technology to assist with building a relationship? How do they use technology? What CRM tools do they use? What is the role of salespeople in selling your product to the end consumer? How are customer issues with your product resolved? What kind of messaging does the company use to build trust and loyalty with customers?