The contribution of segmentation, profiling and targeting to the successful marketing of a product

Seminar paper from the year 2017 in the subject Business economics - Offline Marketing and Online Marketing, grade: 1,4, Dr. Buhmann Schule gemeinnützige GmbH, language: English, abstract: A business' success lies in its marketing. Successful marketing in particular focuses on reaching the target group and tries to satisfy their needs. Customers have become more discerning, especially as the internet and social media have had a dramatic impact on the types of marketing activities that are the most effective. Customers can access information very easily and compare companies. Therefore they have the power and can easily walk away if they do not like the companies product, the result is they now determine most of the markets. Therefore, successful marketing involves everything that an organization has to make happen if customers are to be satisfied with their products. For this to be done effectively and in target-oriented way, an organization has, therefore, to discover and accesscustomer needs, design products and services which are likely to be bought by the customers. Then these products have to be promoted and of course delivered. Marketers try to implement a feeling in consumers to fulfill unfelt needs. For this reason the most important aspect is to correspond with customers directly. A company should never just assume that they know the customers' desires.