The Product

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6. Evaluate market segments. Further details can be found at Danske Bank, an internet resource. Discusses the cost of developing a new product to meet the needs of each segment, as well as the potential revenue if such needs are met. 7. Select market segments. Based on the analysis of segments that were identified, the printed will decide on which of them will direct their efforts.

8 End of the marketing mix. After choosing the market target, the company chooses a specific marketing mix, or a combination of variables under the control of marketers that are generally known as the four PS product, plaza (where the product is sold), price and promotion. Great care is required in deciding the position of the new brand and how to communicate its image in terms of price, name, packaging, advertising, etc. Today, marketers with vision, successful conclusions, carefully defined segments of consumers and listen to people in their markets as never before they did. Many of them have discovered that a key to success is to develop permanent relationships between brands and customers. Marketers who believe in this philosophy, known as market relations, strive to interact in a way regular with consumers and give them reasons to continue to maintain ties with the company for a long time.

Some companies are developing such ties by providing services that customers appreciate. They perform actions that underpin the relationships with the community by giving customers reasons to keep buying the products of the company year after year. Another revolution in the development of relations comes thanks to the computer. The marketing of databases means closely follow consumer buying habits and develop products and customized messages precisely to the wishes and needs of people based on this information. Maintain close ties with their consumers allows database marketers to monitor the preferences of consumers and communicate with those who show interest in your products or services.