Reference no: EM132769961
CASE Title: STP, Product Management & Situation Analysis
Assignment Overview
A Customer Focus
After you determine what you are selling, the next critical part of the marketing plan is to understand to whom you are selling. Knowing your customer is essential to ensure that the company is delivering an appropriate message to the target market. Marketing success is about turning sales leads into profits.
Not only should a company focus on servicing its current customer base, it must also seek out new customers.
This module's case will focus on defining your product's customer demographic and psychographic profile, along with customer relationship management (CRM) and customer satisfaction metrics. CRM is about managing current and prospective customers for strong and long customer relationships.
Case Assignment
Check out Nielsen Insights to find out more about today's customer. Visit Experian and Mosaic to find out more about using marketing research to develop customer profiles. (all direct links on last page)
Using information from the websites and articles from the library's full-text article databases (Academic Search Complete, Business Source Complete, and/or ProQuest Central), create a customer profile brief for a Cigar Shop and Lounge:
Customer Demographics and Psychographics-A review of current customer demographics- (Target Market: Innovators - self-guided consumers who buy what they want when they want it, and they have a wide assortment of interests and activities. Thinkers - individuals who conduct planning and research before they act, are well established financially and buy products that have proven to satisfy them as they are not impressed by the last fad. Achievers - hardworking professionals that are private individuals in nature.
Explain why this demographic profile is your primary target market.
• Develop a demographic profile of the potential customer segment.
• List at least two demographic tools you can use to help develop the demographic profile.
• Potential customer market demographics. Define the psychographic profile of your customer.
Customer Relationship Management-Find two CRM tools that help companies identify pertinent information about their customer segments. Discuss only Analytical, Operational, and collaborative.
• How will you use these tools to manage the customer relationship in your Cigar Shop and Lounge Business?
Be sure to cite and reference the sources in APA format. The paper should be written in third person; this means words like "I", "we", and "you" are not appropriate.
Attachment:- Product Management and Situation Analysis.rar
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