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 1 month ago

Role of involvement in consumer decision-making. Identify the level of involvement a customer of your product...

Role of involvement in consumer decision-making. Identify the level of involvement a customer of your product or service might use to make a purchase/no purchase decision. Then, discuss which type of buying behavior is most consistent with that level of involvement. TOPIC KINGSFORD CHARCOAL

The main role of Management Accounting is: Planning Control and Decision making. Decision making is the...

The main role of Management Accounting is: Planning Control and Decision making. Decision making is the selection of the correct cost element and take the right decision in the best interest of the organization be: -Make or buy decision -Accept or reject decision -Shut down decision -Limiting factor decision In relation to Decision making explain the above statement.

The main role of Management Accounting is: Planning Control and Decision making. Decision making is the...

The main role of Management Accounting is: Planning Control and Decision making. Decision making is the selection of the correct cost element and take the right decision in the best interest of the organization be: -Make or buy decision -Accept or reject decision -Shut down decision -Limiting factor decision In relation to Decision making explain the above statement. Your assignment, should include limiting factor with several constraint and making use of linear programing technique).

The role of managerial accounting in decision making

Please describe the role of accounting in business decision making. 500 words (Minimum)

what is market segmentation? and what are the different types of segmentation? also provide real world...

what is market segmentation? and what are the different types of segmentation? also provide real world examples. Thank you

1. Please list the main types of approaches to decision making. How decisions CAN be made...

1. Please list the main types of approaches to decision making. How decisions CAN be made and what CAN influence the decision making process? Maximum: 200 words (fewer is better). Bullet-list format for key points and figures preferred, if applicable. 2. Please describe the views and assumptions about a "good" decision making process in the West. Who should be making the decision and how the process should go, as believed by the majority of the people in the West? Maximum:...

Question

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

Solutions

Expert Solution

Related Solutions

Role of involvement in consumer decision-making. Identify the level of involvement a customer of your product...

The main role of Management Accounting is: Planning Control and Decision making. Decision making is the...

The main role of Management Accounting is: Planning Control and Decision making. Decision making is the...

The role of managerial accounting in decision making

Please describe the role of accounting in business decision making. 500 words (Minimum)

what is market segmentation? and what are the different types of segmentation? also provide real world...

1. Please list the main types of approaches to decision making. How decisions CAN be made...

Meaning of strategic decision making and the scenario in which it takes place

Describe the Functional Model of Decision Making. Pick two of the steps in the decision making...

How does the composition of the board of directors affect the the strategic decision making?