Check what you have learnt this week
As you have worked through the topics this week you have had the opportunity to learn about:
- The characteristics that make up a profile of your business’s customers and consumers.
- How the customer and consumer profile information can be used to segment your customers and consumers into smaller, distinctly different groups
- Different purchase types - important purchases, repetitive consumption, involuntary consumption, group consumption - and to reflect on how this relates to the products or services that your business offers, and
- The different levels of involvement that customers are likely to have in relation to different purchase types.
Combined, this information helps you create a detailed ‘picture’ of your prospective customers and consumers, and in turn this will help you more effectively market your business’s products and services to those who are most likely to purchase them.
You have also been introduced to Lee and her online homewares business. With your help, a demographic and psychographic profile of those persons likely to be attracted to Lee’s business and the products she has available has been built. In addition, you’ve helped Lee consider some ways in which she can reduce the risks associated with purchasing products from her online store. All this information is extremely useful as Lee can use it to continue to build a profile of her target customers and consumers.
© RMIT University 2016