The Darwin Symphony Orchestra is an orchestra based in Darwin, Australia that was founded by Martin Jarvis. The first concert was held by DSO in the year 1989. The Company receives financial support from the government of the Northern Territory as well as support from private donors that includes Charles Darwin University. It performs approximately 8 concerts every year. A documentary on DSO was introduced by ABC television that was titled as Have Orchestra. It was twice presented with the National Australia Day Community Event of the Year Award. Matthew Wood is the present artistic director of the DSO (Jandl 2015).
The report provides an overview about segmentation and targeting as well as their relevance to B2C and B2B marketing. It also illustrates about the evaluation of segment as well as the evaluation of specific B2C niche segment for the DSO marketing. The report briefly describes about B2B target marketing for the DSO team to focus on. The marketing strategy is relied upon targeting the overall mass market. The importance of market segmentation is that it facilitates a trade to precisely reach a customer with precise requirements (Lewis 2014). It provides long-run advantages to the company as they are able to make the use of the corporate resources.
Sellers can choose to pursue business-to-consumer markets or business-to-business markets or both. The customers are influenced in certain ways to purchase certain things. Most of these factors are used to segment customers. A firm mostly makes the use of several segmentation bases or criteria in order to categorize purchasers in order to get a complete picture of its customers as well as generate real value for them. A layer of information is added by each layer (Lafreniere, Deshpande and Bjornlund 2015). Market segmentation in B2B markets mostly satisfies needs of the individuals and makes profit along the way is the purpose of marketing. However, needs of the individuals varies and as a result, satisfying them may require diverse approaches. Segmenting by behaviour is common as well the sellers frequently divide the customers on the basis of the usage rates of products. The customers who order several goods as well as services from a seller often receive special deals and are served by salesperson who calls on them individually. The segmentation in B2B markets includes a price-focused segment that is composed of small firms that have low marginal profit as well as quality and brand-focused segment that is composed of companies that demand high-quality goods and possess top-notch delivery as well as service needs. Like B2C customers, the B2B customers explore innovative ways that helps to reach the target markets. There are common market segment dimensions for customers and B2B markets (Thomas and Thomas 2016). Under B2C market segmentation, the focus is mostly on traits of customers such as age, income bracket, education as well as gender. It also deals with the online shoppers as well as shopping centre customers. Marketing segmentation is likely to be a long-lasting procedure and it helps to determine the exact segments that illustrate the most probable sales for the organization.
Targeting takes place when the marketer creates diverse segments within the market and devises several marketing strategies. It also devises several promotional schemes as per the preference and taste of the customers of a particular segment. An organization targets the market segments once the market segments are created. It is the second stage that takes place after segmentation. With the help of several marketing policies as well as schemes, the organization targets their commodities amongst several segments. Targeting takes place once all the potential market segments are identified (Dibb and Simkin 2016). The creation of the right advertising message necessitates targeting precise customers.
DSO mostly serves the society by delivering symphony music as it is a non-profit organization. It also provides music education to the students so that they can perform in school programs. In the year 2012, the orchestra launched an education program and as a result, they gained immense popularity in more than 2000 territory based schools. The marketing segmentation of DSO also includes symphonic music that is provided by them mostly in the Northern Territory of Australia. In order to acknowledge the several existing and potential B2B and B2C customer segment, it is required to have an essence of marketing. The vertical green arrows illustrate the movements between segments that is seek to stimulate through marketing (Aghdaie and Alimardani 2015). The strategies mostly include long-term strategies that are intended to accomplish a known objective or vision. The goals of DSO involve a strategic policy that requires knowing about the audience and reaching them. It also involves the reviewing and revising of approach. It is also requisite to build relationships with the customers.
In the context market segmenting, DSO requires to follow a behavioural targeting that illustrates to a circumstance that will lead to exclusive marketing programs. This leads to advanced technology that encourages and enables a definitive practice of marketing. Marketers are empowered by more detailed individual data that facilitates a much higher degree of familiarity as well as frequency of contact with customers. On the other hand, it also leads to geo-targeting that acts as a practice of customizing an advertisement for the concert tickets that is mostly based on geographic location of probable purchasers (Zuiderveen Borgesius 2015). The micro macro segmentation refers to the organizational market that involves variables such as the size of the organization as well as its location. The list price of DSO is likely to take the volume discounts into account that large clients will unavoidably ask for and the individuals leads to good representatives. There requires to have a decision making unit that however; does not exist on a formal organizational chart. The members of the decision-making depend on what commodity is being purchased and whether the commodity has been purchased earlier. However, if the commodity is purchased earlier the unit might just consist of manufacturing purchasers (Pothitou et al. 2016).
The macro segmentation of DSO takes place when the market is categorized or segmented on the basis of the variables with wider scope that includes organizational variables. The variables that are included comprises of location that acts as an imperative variable to acknowledge about the communication needs as well as the culture. Macro and micro segments are two diverse types of segmentation. It is the procedure that divides the overall market into diverse groups based on diverse variables. The purchasing procedure and purchasing size of DSO depends on the variables such as the size of the organization. On the other hand, macro segmentation is always wider as compared to micro segmentation that mostly focuses the target on small base of customer (Cui and Choudhury 2015). However, micro segmentation employs other variables that form the basis of classification that is mostly customer oriented as it takes customer experience and benefits into account. Qualitative research techniques turn out be invaluable at the stage of lifestyle segmentation. It also provides the in-depth analysis about the conceptual understanding according to which the large-scale customers will be asked about the degree to which they agree to each statement put forward by DSO. A key section or attitude towards orchestra should also be considered (Budeva and Mullen 2014).
Most of the analysis of segmentation is mostly based on cluster analysis that comprises of a set of well-described statistical processes that group individuals perform according to the proximity of the ratings. Cluster analysis tends to avoid the pattern of respondent ratings and depend fundamentally upon the proximity of the ratings. Another restriction of clustering approaches is that all the statements are treated as identical. An advanced way to accomplish a good psychographic segmentation is to first recognize the statements that are more imperative. The final stage that is associated to segment tends to large and complicated (Duran and Odell 2013).
A specific B2C niche customer segment for the DSO marketing team is demographic segmentation. This type of segmentation deals with the market that is mostly based on certain traits of the audience. It is even more competent while targeting multiple segments at once. Demographic characteristics mostly include certain factors that are not limited to race, age, gender, ethnicity, education as well as marital status. It is also more effectual while targeting several segments at once. The combination of several customer segmentation criteria has the probability to reach a much targeted niche market that increases sales while maximizing the value of each marketing dollar invested (Fang, Xiaofeng and Jianhua 2015).
The rationale for its selection in terms of distinctiveness, size or accessibility is the scheme that categorizes customers as per the identical requirements or desired outcomes in order to support communications. The B2C rationale is most effectual against customer experience objectives that include diminishing complaints or low-effort communications. It also provides probable value to tailor service to segment with high anticipated future value. The objective of this scheme is mostly to maximize the future values of these high-probable groups. The B2C customers who are associated with DSO are mostly the individuals who book the orchestra for weddings and other private and public events. The individuals those who lives near the Darwin and Northern Territory, includes wealthy businessmen as well as other powerful individuals. Darwin Symphony Orchestra is also invited by the managers of the company to initiate an event (Kang 2015).
A dominating niche B2B market mostly diminishes competition that in turn reduces price pressure and helps to bring suppliers closer to customers that augments their loyalty. DSO requires to adopt the NicheMktg approach that mostly focuses on market segmentation. This in turn helps to define the needs that increase sales in particular target audience. The B2B mix marketing campaign will prove beneficial for DSO as it will target those customers who have a common business requirement and can be found anywhere in the world. With the help this, DSO will keep focus on targeted niche market rather trying to reach every individual. This will help the customers to recognize the positioning as well as the message that is based on differentiation. As a result, the concerts that are carried out by DSO will make the targeted customers happy by aligning the market requirements. The potential customers will request the experts to solve the real-world trade challenges and DSO will ultimately become the major reference in this precise area of knowledge within the specified niche market (Pato 2015).
The B2B customer segmentation deals with the objectives and outputs of customer segmentation research are likely to rely on the stage of the company. It helps to have a clear idea of the demand of individuals to purchase the concert tickets. This leads to augmented satisfaction as well as better performance against competitors. It also helps to focus on marketing strategies that is mostly parallel with enhancements to the commodities. The rationale for selecting B2B niche segment facilitates DSO to pursue elevated percentage opportunities. It helps to create a step towards a meaningful change in DSO that will in turn acknowledge the change. In the case of an orchestra company, moving from a start-up stage to an expansion stage helps the developing company to make a transition (Kandeil, Saad and Youssef 2014). Ultimately, best present segmentation of customer helps to denote ideal customers and the segments to which those customers belong to.
The B2B customers illustrate the enterprises who hire the orchestra to conduct an event in their Company. There is always a prospect to invite the popular orchestra to carry out an event due to several private and government organization that is situated near the Darwin and Northern Territory. The cost of hiring of DSO is negligible as compared to other music company due to the fact that Darwin Symphony Orchestra is a non-profit organization. The team that makes decision comprises several departments such as technical department, financial department and operational department who require to agree on the particular decision that is related to inviting of DSO (Thomas and Thomas 2016).
Positioning is described as the marketing strategy that aims to make a brand engage a diverse position. Companies mostly apply this strategy either by highlighting the diverse characteristics of their brand or they might try to generate an appropriate image (Gengler and Mulvey 2017).
Figure: Positioning Map
(Source: Created by Author)
The perceptual mapping is a graphic display that illustrates the perceptions of customers with relation to characteristics of products. This in turn influences the behaviour of customers the ideal points of the customers reflects the ideal amalgamation of product characteristics. It is a illustrative technique that is mostly used by marketers in an attempt to visually display the potential customers. The positioning map mostly considers the ideal points of the customers. The customers are also identifying the problem according to which the purchaser identifies a divergence between the actual and some desired state.
It can be concluded that B2B procedure involves the commodities and services of the trade that are marketed to other trades. An organization targets the market segments once the market segments are created. The B2B mix marketing campaign will prove beneficial for DSO as it will target those customers who have a common business requirement and can be found anywhere in the world. Diverse marketing approaches are mostly used in both B2B and B2C process. A layer of information is added by each layer. Market segmentation in B2B markets mostly satisfies needs of the individuals and makes profit along the way is the purpose of marketing. The customers under the B2C transaction select goods and pay for those goods.
The rationale for its selection in terms of distinctiveness, size or accessibility is the scheme that categorizes customers as per the identical requirements or desired outcomes in order to support communications. A company considers the introduction of a new product that seeks for area with a high density of idea points. It can also be concluded that the rationale for selecting B2B niche segment facilitates DSO to pursue elevated percentage opportunities. It can also be concluded that the market potential of a segment can be evaluated by viewing the number of potential customers in the segment. The major factor in the evaluation of every segment is the competitive circumstance.
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