Chapter 4 Flashcards
How to succeed as a company
select profitable customers
distinct value prop
focus marketing resources on getting, developing, retaining profitable customers
4 measures to evaluate market segments
measurability, accessibility, sustainability, responsiveness
What is macro segmentation?
Divide by organizational characteristics
What is micro segmentation?
Divide by decision making units characteristics
3 important customer segments
innovation focused
fast growing markets
highly competitive
When are qualitative forecasting methods favourable?
when little data exists, good for new and unique products
What is executive judgement method?
combines and averages opinions from top individuals at company
What is salesforce composite?
sales people effective estimate future sales volume using their knowledge
When are salesforce composites useful?
Short run projections
When are executive judgements useful?
Stable environment
What is the delphi method?
opinions of a panel of experts on future sales
When is the delphi method useful?
Long term forecasting for new products
Explain time series and regression
time series: uses historical data in order to project trend and growth
regression: find factors that affect sales and use a mathematical model
When is regression useful?
Reliable for intermediate forecasts
