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Technical note
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Reference no. MN-0400-E
Subject category: Marketing
Authors: Jorge Gonzalez
Published by: IESE Business School
Originally published in: 2019
Version: 23 July 2019
Revision date: 11-Nov-2019
Length: 14 pages
Data source: Generalised experience

Abstract

The consumer's needs; providing good customer service: without a doubt, these concepts expressed by Theodore Levitt (1960) almost 60 years ago are at the core of the field of marketing. Considering the customer as the focal point of all commercial efforts quickly leads us to the realization of another equally important reality, namely that a 'customer', in the abstract, does not exist. There are a host of specific customers - each with their own peculiarities - which means that it makes sense to develop a segmented vision of the market when it comes to making the majority of commercialization decisions. This segmented vision consists of the ability to understand that, in a market, there are some customer groups that are similar to each other and others that are quite different from each other. These differences mean that in order to use the available resources efficiently, it is wise to plan, design and carry out specific actions for these customer groups, which we call 'segments'.

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Abstract

The consumer's needs; providing good customer service: without a doubt, these concepts expressed by Theodore Levitt (1960) almost 60 years ago are at the core of the field of marketing. Considering the customer as the focal point of all commercial efforts quickly leads us to the realization of another equally important reality, namely that a 'customer', in the abstract, does not exist. There are a host of specific customers - each with their own peculiarities - which means that it makes sense to develop a segmented vision of the market when it comes to making the majority of commercialization decisions. This segmented vision consists of the ability to understand that, in a market, there are some customer groups that are similar to each other and others that are quite different from each other. These differences mean that in order to use the available resources efficiently, it is wise to plan, design and carry out specific actions for these customer groups, which we call 'segments'.

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