Chapter 1 Marketing Is Dynamic!
19
of target markets. Think of the potential
customers for clothing. There are many
groups of customers with different clothing
needs. For example, teenagers need different
kinds of clothing from business people
who work in offices. Babies need different
clothing from adults. You will learn more
about target markets in Chapter 4 and Part 3.
Think of something that you purchased
recently. How did that product meet your
needs and wants?
3
Reality Check
Marketing Is
Relationships
Marketing is based on the relationship
between the buyer and the seller. For some
businesses, the relationship is short. For
others, a long-term relationship leads to
customers who are more satisfied and loyal
to the business. Research has shown that
it is less costly to keep a current customer
than to get a new customer. As a result,
many businesses focus on developing
and maintaining relationships with their
customers.
One way salespeople develop
relationships is to contact the customer
after the sale to make sure the product
is functioning properly and meeting the
customer’s needs. If there are any problems,
the salesperson can correct them at that
time. Salespeople might send birthday
greetings and notices of sales of items that
are of special interest to each customer. For
example, Amazon.com customers can sign
up for personalized recommendations based
on their interests and preferences.
Many businesses reward repeat
customers with discounts or free products.
Programs that offer such rewards include
the airlines’ “frequent flier” programs. Many
bookstores, coffee shops, and sandwich cafes
also offer frequent buyer programs. Through
these programs, the businesses establish
long-term relationships and develop
customer loyalty.
Do you or does someone you know belong
to any frequent buyer programs? Name
the business that offers it and describe the
program.
3
Reality Check
Marketing Is
International
In the twenty-first century, people
around the world are linked by telephone,
fax, Internet, and jet travel. Japanese
products, such as the Nintendo Wii, are
available at your local mall. A Japanese
student who lives in Tokyo can buy a
hamburger at a McDonald’s Restaurant near
his or her home, 1-4. Through the Internet,
people can buy products from anywhere in
the world.
1-3
A target market is the group of customers whose
needs and wants you will try to satisfy. Teens are
a popular target market.