Course Code: mocsbespoke
Duration: 7 hours
Prerequisites:

Requirement: be prepared to share information and data during the workshop

Overview:

INTRODUCTION

The complex and rapidly changing competitive environment and landscape in the marketplace are increasingly having a great impact on all organisations. In this dynamic environment, marketing has truly become an increasingly important engine to drive the organisation’s products and services to success in the marketplace, basically trying to answer questions like - what's so special about your products/services? Who are your customers? Have we wasted lots of time and money targeting the wrong groups or segments? This program attempts to enhance our understanding to frame/explore different approaches in profiling customers via the data available

OBJECTIVES

  • Be equipped with a clear understanding of what and why of market or customer segmentation
  • Enhance efficiency in marketing cost
  • Reach the targeted customers
  • Use data to make rational decision
  • Apply tools to improve marketing effort
  • Overall market understanding, especially who the players are besides customers

TARGET GROUP

Data & Analytics members, Marketing and Non-marketing executives who desire to have an understanding of what market segmentation is all about. Executives who play supporting roles to the overall marketing efforts of their companies or organisations. Senior Marketing Executives and Managers who need to keep abreast of current issues and best practices in modern marketing data & segmentation.

Course Outline:
  1. Marketing Segmentation
  • Introduction: what is it?
  • Why is it important?
  • Cases of success & failures
  1. The Front end
  • Qualitative: The Front End
  • Who are your customers? Need to treat them differently
  • Retail
  • Institutional

·     BCG

·     5 Forces

·     SWOT/PESTEL

  • Cases
  1. Quantitative: Data analysis & RFM
  • Recency
  • Frequency
  • Monetary Value
  • Cases
  1. Major Market Segments/Types
  • Demographic
  • Geographic
  • Psychological
  • Behavioral
  • How to assess each of these, including their usefulness
  • Relationship of all these with 12 Ps
  1. Summary, where do we go from here