Behavioural market segmentation divides a market into segments on basis of consumer knowledge, attitudes, uses or responses to a specific product. Ideally, marketing performance measurement should be a logical extension of the planning and budgeting exercise that happens before a company’s fiscal year. There are different areas of a marketing plan that can indicate whether or not the program was successful.
By scheduling regular evaluations of your marketing plan, you can save wasted money by modifying or eliminating campaigns that are not reaching your target market or garnering the response you need. Evaluation of Marketing Mix Principles: The marketing mix comprises of four key elements i.e., product, place, price, promotion. Market segmentation criteria - Five essential criteria Published on July 30, 2014 July 30, 2014 • 148 Likes • 16 Comments
These elements are utilized to satisfy the target market and potential customers.
These principles help the business to achieve its predefined goals. Evaluation is an important part of marketing: it helps your company eliminate ineffective strategies and develop an overall plan that helps build your business. Once you … Evaluative criteria is an important component of the marketing world.
Key Takeaways Key Points. Market segmentation criteria of psychographic nature allow to divide the market into segments based on variables such as social class, lifestyle and personality. Multiple Criteria Market Segmentation. evaluation criteria: Standard measures established to evaluate the degree to which alternative solutions, proposals, or individuals are able to meet expectations or objectives through direct comparisons of their strengths, weaknesses and trade-offs. In order for you to determine whether or not a marketing plan is worth the investment of money and man hours, you need to have good marketing evaluation techniques. Review the importance of performance evaluation from a marketing perspective. Criteria for the evaluation of the marketing strategy is a set of factors, parameters, characteristics, properties on the basis of which managers can assess the marketing strategy.. Strategic marketing is closely linked to the needs of individuals and organizations.
Behavioural Market Segmentation.