Marketing assignment week two

Chapter 4

Creating long term loyalty relationship is the foundation of marketing and  strong customer relationships, marketers must win customers by connecting with them, listening and responding to them.

Personal point view

I work with a road construction company, my example of creating long term relationship, the President announced that the Cabinet meeting will be held at the Army training Camp, we worked on that road with immediately without a contract to maintain our client the Government and acquired 70%of the market.

Chapter 5

Analyzing Consumer market is the primary importance to understand the psyche of the customers and their   buying motives. Therefore Marketers must fully understand both the theory and reality of consumer’s behavior because a consumer’s buying behavior is influenced by cultural, social, and personal factors.

Personal point of view

 I went with my sister to a shopping mall she liked a pair of shoes for  that it could look good on me  and she is peer company I ended up being influenced by and bought the shoes this is a social culture factor that influenced me .

Chapter 6

Analyzing Business Markets to find out what information you need to know about potential customers for your business.

Personal experience

I had food supplements for forever living and I analyzed my market and I found it was best needed by aged people because they are the ones that have loose of appetite and consume these products and actually I got a lot of clients in this class of people.

Chapter 7

Identifying market segments and targets is the aggregating of prospect buyers into groups that have common needs and will respond similarly to a marketing action.

Personal experience

There is an umbrella company called Crystal ventures limed that used market segmentation to the fullest of it, it is into road construction, estate construction, production of construction products, tiles factory, food processing industry and a coffee shop and it is very successful.

Lilian