Targeted Marketing and Customer Retention

This video covers the benefits of market segmentation, which involves dividing a market into specific customer groups based on characteristics like age, gender, and income. The benefits include increased profits, customer retention, market share, meeting customer needs, and targeted marketing. Examples from companies like JD Sports, Apple, Tesla, and Barbie illustrate these concepts. The video emphasizes the importance of understanding customer demographics to tailor products and marketing strategies effectively.

What is the primary purpose of market segmentation?

• To reduce marketing costs

• To break down the market into specific customer groups

• To increase the number of products

• To expand globally

How does market segmentation help in increasing profits?

• By expanding to new markets

• By increasing product prices

• By identifying specific customer needs

• By reducing the number of employees

Which company is used as an example for customer retention?

• JD Sports

• Tesla

• Apple

• Start Right

What strategy does Apple use to retain its customers?

• Frequent changes in product design

• Consistent operating system layout

• Lowering product prices

• Offering free products

What does increased market share mean?

• Having the most customers in a market

• Increasing the number of products

• Expanding to international markets

• Reducing the number of competitors

Which company is highlighted as a leader in the electric vehicle market?

• Audi

• Mercedes

• BMW

• Tesla

How does understanding customer needs benefit a business?

• By reducing the number of employees

• By focusing on specific customer requirements

• By allowing for random product development

• By increasing product prices

What is an example of targeted marketing mentioned in the video?

• Targeting all age groups equally

• Using generic advertisements

• Using specific colors and themes for Barbie ads

• Reducing advertising budget

Which demographic is targeted by Barbie advertisements?

• Adult males

• Senior citizens

• Female children

• Teenage boys

What language is used in tool advertisements to appeal to adult males?

• Soft and gentle

• Power, performance, and durability

• Colorful and playful

• Economical and cheap