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Market Segmentation Assignment for Customer Relationship Management (Mkt610) - Spring 2012, Exercises of Marketing

An academic assignment from a university course named customer relationship management (mkt610) held in spring 2012. The assignment, named 'assignment no. 2', is focused on the topic of market segmentation. Students are required to describe how different industries, including a paper clips manufacturer, salt manufacturer, architect, airline industry, automobile manufacturer, lawyer, fast food, and designer clothes’ wear, can be segmented using unsegmented mass marketing, market segmentation, or customized marketing approaches. Instructions for completing the assignment, learning objectives, and specific instructions for submission.

Typology: Exercises

2011/2012

Uploaded on 08/03/2012

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Semester Spring 2012
Customer Relationship Management (Mkt610)
Assignment No. 2
Due Date: 25
th
June, 2012 Marks: 25
Topic: Market segmentation
Learning Objectives:
To recognize the concept of segmentation while appreciating the strategic
options available to firms for approaching different categories of customers.
To apply the concept of segmentation to different industries
Rationale:
Mass marketing is an approach wherein the manufacturer engages in mass production,
mass distribution, and mass promotion of one standardized product aimed for all sorts of
customers. This leads to lower costs, lower prices and higher margins. Nowadays,
however, as customers are getting to know about their varied and different needs they
want to be treated differently too and thus require customized solutions with something
changed from the rest of the crowd. In response to such customer demands companies are
using market segmentation and customized marketing to approach a heterogeneous
market. In market segmentation approach firms provide product options that meet the
needs of a defined group. In customized marketing approach each individual customer
receives personalized treatment.
Discussion Question:
The basic logic behind market segmentation is that not all buyers are alike. Keeping the
logic of segmentation in view describe how following would segment the market by
choosing from any of the three approaches of segmentation like unsegmented mass
marketing, market segmentation, customized marketing. Give appropriate reasons to
substantiate your answer.
1. Paper clips manufacturer
2. Salt manufacturer
3. Architect
4. Airline industry
5. Automobile manufacturer
6. Lawyer
7. Fast food
8. Designer clothes’ wear
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Semester Spring 2012

Customer Relationship Management (Mkt610)

Assignment No. 2

Due Date: 25th^ June, 2012 Marks: 25

Topic: Market segmentation Learning Objectives :

  • To recognize the concept of segmentation while appreciating the strategic options available to firms for approaching different categories of customers.
  • To apply the concept of segmentation to different industries

Rationale:

Mass marketing is an approach wherein the manufacturer engages in mass production, mass distribution, and mass promotion of one standardized product aimed for all sorts of customers. This leads to lower costs, lower prices and higher margins. Nowadays, however, as customers are getting to know about their varied and different needs they want to be treated differently too and thus require customized solutions with something changed from the rest of the crowd. In response to such customer demands companies are using market segmentation and customized marketing to approach a heterogeneous market. In market segmentation approach firms provide product options that meet the needs of a defined group. In customized marketing approach each individual customer receives personalized treatment.

Discussion Question:

The basic logic behind market segmentation is that not all buyers are alike. Keeping the logic of segmentation in view describe how following would segment the market by choosing from any of the three approaches of segmentation like unsegmented mass marketing, market segmentation, customized marketing. Give appropriate reasons to substantiate your answer.

  1. Paper clips manufacturer
  2. Salt manufacturer
  3. Architect
  4. Airline industry
  5. Automobile manufacturer
  6. Lawyer
  7. Fast food
  8. Designer clothes’ wear

Learning Outcomes : After doing this rationale based exercise:

  • Students would be able to fully comprehend the concept of segmentation and the way the marketer can strategically target a segment
  • Students would be able to apply segmentation strategies for dealing with different customers.

Specific Instructions for doing the assignment

Please read the following instructions carefully before preparing the assignment solution:

  • This is an application based question and you are required to read the questions at least 3 times before attempting it.
  • Avoid writing generalized or bookish answers.
  • It’s an application based assignment and you are required to apply knowledge on focused industry. The question requires you to be original and creative so do not copy from any internet source otherwise you will be straightaway marked as Zero. Especially any data, text or example taken from student’s blogs will not be entertained.

Note: Only in the case of Assignment, 24 hours extra / grace period after the due date is usually available to overcome uploading difficulties which may be faced by the students on last date. This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience.

Other Important Instructions

Deadline:

  • Make sure to upload the solution file before the due date on VULMS.
  • Any submission made via email after the due date will not be accepted.

Formatting guidelines:

  • Use the font style “Times New Roman” or “Arial” and font size “12”.
  • It is advised to compose your document in MS-Word format.
  • You may also compose your assignment in Open Office format.
  • Use black and blue font colors only.

Solution guidelines: