Real Estate Sector in India Essay

2779 WordsApr 3, 201312 Pages
1 Customer Segmentation Fundamentals: Six Steps to Creating Customer Profiles and Gaining Market Advantage Knowledge of your customers’ needs and wants is the foundation for marketing and sales success. A well‐crafted customer segmentation analysis of consumers will provide this knowledge and can serve as a blueprint for your entire organization. Corporate strategists, marketers, salespeople and product developers all can use the same customer segmentation analysis to drive decisions leading to greater revenue and profitability. The results of customer segmentation analysis can be used to: • Choose Better Store Locations Customer segmentation is a key analysis for accurately projecting the size of your total market opportunity, and projecting revenue and customers for new locations. Few companies can make successful site selection decisions without first gaining in‐depth knowledge of their customers through a segmentation analysis. • Understand Untapped Market Potential An accurate profile of your customers allows you to analyze market areas or neighborhoods to understand how well you are doing in those areas — called your penetration — as well gain insight into the market potential and appropriate mix for your products and services. • Improve Targeted Marketing By identifying the customer segments that are most important to your business, you can focus marketing, media choices or business activities on those customers and prospects most likely to purchase your products. You can improve response rates and ROI by precisely marketing to segments with offers that will appeal specifically to them. © 2008 Mapping Analytics (877) 893‐6490 2 The Customer Segmentation Process The fact is, not all customers are created equal. Some are better than others: they buy more, and

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