Describe the role of the customer in strategic decision making. List the types of market segmentation...

Describe the role of the customer in strategic decision making. List the types of market segmentation found in marketing. You do not need to explain them. Just list them in point form. Any sources that are not yours must be cited.

Expert Solution

Answer: The strategic decisions are made by the companies to create a competitive advantage and for achieving the goals and objectives of the companies. They are essential for the growth and survival of the firms. These decisions are mainly based on how the company will cater to the needs of the customers at the market place. Hence the customers play a major role in the strategic decisions that are taken by the companies. The companies develop strategies for producing the products and services as per the needs of the customers. If these decisions are not based on the needs and wants of the customers at the marketplace then it will result in the failure of the strategy. Thus customer focus is essential for the strategic decisions and no such decision can be successful without keeping the customer in mind.

The following are the types of segmentations found in marketing

1. Geographic segmentation

2. Demographic segmentation

3. Psychographic segmentation

4. Behavioral segmentation

keosha answered 2 months ago

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Describe the role of the customer in strategic decision making. List the types of market segmentation...

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