Question

Discussion Questions

Think about some of your friends and what you have discovered by visiting their homes. Do they buy different things than you do? If so, why? How might a company distinguish you from them in terms of its targeting? Is it always harder to find new customers than it is to retain old ones or does it depend on the business you're in? Does one-to-one marketing have to be expensive? How can small organizations interact with their customers in a cost-effective way? Are large companies better off using multisegment strategies and small companies better off using niche strategies? Why or why not? How have companies such as JCPenney and Sears tried to change their position (reposition their stores)? Do you think hotel companies have segmented the market too much and confused customers?

Answer 1

From the visit i had to my friend's home , i found that they buy a lot of things than i do. They buy every new product which comes in the market and keeps updated as per their needs . I don't have a compulsory kind of thing that i need it whether it's of no use to me , i had to buy it because i need to show off to others . I buy things only when there is extreme need that without that i can't work . So, for a company to maintain its target it would be difficult with me .

According to me , for a company to retain the old customer is more difficult than finding new customers because to retain the old customers the company should always provide a new , innovative products keeping the customers expectations up and they have more responsibility towards them than the new customers .

One to one marketing is expensive because in this dealing with each one makes it more costly . Small organisations can interact to the customers in a cost effective through online portal . As everyone uses internet hence we can say it's the part of their life it will be more efficient in terms of cost for the small market organisation to deal either customers.