MRKT 311 Principles of Digital Marketing Target Market & Customer Journey MRKT

MRKT 311 Principles of Digital Marketing

Target Market & Customer Journey

MRKT 311 Principles of Digital Marketing

Target Market & Customer Journey

Business Marketing Plan

Business Marketing Plan

Part 2

Part 2

TARGET MARKET & CUSTOMER JOURNEY

Product and Company Name

[Insert product/service and company name here]

segmentation base

In paragraph format, evaluate each of the five segmentation categories buyers would purchase the product or service from the company.

Demographic/firmographic

Group consumers by categorical descriptive characteristics, the “who” questions:

B2C: age, gender, income, occupation, marital status, family life cycle, education, socio-economic status.

B2B: industry, size performance, structure, ownership, years in business, customer type, technology

geographic

Group consumers using location variables, the “where” questions:

B2C: region, country, geospatial data, market size, population density, climate, language

B2B: region, country, density, infrastructure, regulations, language

psychographic

Group consumers using psychological, sociological, and anthropological variables, the “why” questions:

B2C: motives, personality traits, values, attitudes, interests

B2B: buyer motivation, organizational type, values, attitudes, interests

Behavioral

Group consumers based on past or predicted behavior, the “how” questions:

B2C: role, purchase occasions, customer value, usage rate, readiness stage, shopping patterns

B2B: purchase approach, occasion, user status, usage rate, readiness stage, research patterns

benefits sought

Group consumers based on the utility or need driving decisions, the “what” questions:

B2B: need/utility, jobs to be done

B2C: need/utility, jobs to be done

customer journey with the five steps in buyer behavior

In paragraph format, evaluate each of the five steps a buyer would purchase the product or service from the company. This is an example of one consumer’s decision-making process for the product. Awareness, Discovery, Consideration, Purchase, and Relationship Management

Awareness – Consumers become aware of a need or want

discovery – consumers begin to search for options

consideration – Consumers limit options to fit their wants and needs

purchase – conversion to purchase

relationship management – develop ongoing connections with consumers

REFERENCES

[Add in references used in APA format. You can use our class book, AMA website, the company’s sites, and other marketing resources.]