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Developing Successful Marketing Strategies by Gary W. Randazzo

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Chapter 5

Customer Segmentation

Marketing strategy for any business should focus on the customer. The business is built on satisfying the needs of its customers, any adjustment in marketing approaches should consider the customer as the centerpiece of the strategy, and any action taken should consider the customer’s view of valuing its products. Classifying customer segments can help identify strategies to grow market share.

One approach that can be useful is to classify customers based on the amount of their spending. Spending used as a metric can help an analyst understand which customers provide the biggest impact on the business. Customer categories can be described as follows:

1. Key customers who represent high volume users

2. Customers ...

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