Supply Chain Management Benefits

The numerous benefits of marketing supply chain management practices, systems and technologies include: Improved market knowledge. The three Vs – Increase velocity, increased visibility, and reduced variability in the flows of goods and services, funds and information. Integrated operations. Improved management of risk. Increased sustainability. Improved Market Knowledge With supply chain management in place, partners Read More

Qualitative Methods

When a product is new, however, or when data are lacking for one reasons, you have to rely on judgement and intuition. In such cases, you are best advised to find the most experienced, market-savy, objective person – or better yet, group of experts – and rely on them for a rough estimate of likely Read More

Ways to Segment Markets

Segmentation can be based on any number of criteria selected to suit a particular purpose, and each class may be segmented in more than one way. Market segments can be defined by demographic characteristics such as gender, geography, age, occupation and wealth. Demographic categories can also be refined or customized. Customers can also be segmented Read More

Reasons to Identify and Understand Market Segments

The primary reason to identify and understand market segments is to increase the organization’s profits (or its equivalent) over the long term. (Definition) Customer Segmentation is the practice of dividing a customer base into groups of individuals that are similar in specific ways relevant to marketing. Traditional segmentation focuses on identifying customer groups based on Read More