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Essay / Research Paper Abstract
A 6 page paper discussing two chapters – segmentation and meeting customers' needs – of this 1995 book by Rao and Steckel. The authors identify rational, reasonable situations and conditions and then offer approaches in the same vein. They promote the customer as the party with the needs to be met, relegating the marketer to the role of facilitator and practitioner. The authors respect consumers' intelligence, their needs and their buying power. Bibliography lists 2 sources.
Page Count:
6 pages (~225 words per page)
File: CC6_KSmktgSeg.rtf
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Unformatted sample text from the term paper:
Some insist that only "new" books and other published advice have value, that markets and conditions change so quickly that published sources more than five or so years old
are of no value. Those miss the lessons of the past and tend to believe any idea with which they are not familiar is a new one. In
The New Science of Marketing, authors Rao and Steckel (1995) offer a reasoned approach to classic principles, one that allows the marketer to build for the future without negating the
lessons of the past. Segmentation Rao and Steckel (1995) state the obvious on several occasions, but in ways that are beneficial and keep
the readers focus on the authors primary point, which is that marketers must tailor their efforts to the nature of the market and the needs of individuals within it.
Many current marketers appear to approach their larger marketing tasks from the opposite perspective, which is to serve their own needs and various agendas. Rao and Steckel (1995) illustrate
the point that in serving customers needs and meeting them where they are, then marketers own agendas will be fulfilled as well. In
Chapter 2 addressing segmentation, the authors state that "a products customers account for 80 percent of the products sales" (Rao and Steckel, 1995; p. 30). This is one of
those points of stating the obvious that certainly needs to be highlighted. If 80 percent of sales is attributable to some group that can be defined by specific characteristics,
then logic demands that marketers set about discovering what those defining characteristics are. There are sure to be others in the larger market who also share all or most
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