Marketing: Analyzing Buyer Behavior

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Essay #: 051798
Total text length is 6,577 characters (approximately 4.5 pages).

Excerpts from the Paper

The beginning:
Marketing: Analyzing Buyer Behavior
The simulation had three phases: market positioning, Lords and Masters, and customer retention versus new customer acquisition. The phases were sequential: we began with a $550,000 budget to achieve market positioning, obtained $900,000 to expand, and then had $350,000 to either solidity Stonewall’s standing with existing customers or to bring new customers from the segment of ‘Born Again Man,’ or BAM. This summary will discuss each of the phases of the simulation, along with decisions and results, and analyze specific factors relating to social and cultural inputs, geographic variation, and loyalty.
The choice of marketing positioning was relatively easy, given the existing demographic trends in...
The end:
.....too old; their demographic niche is simply too thin to impact Stonewall’s business across multiple counties.
Johnson and Hart (1998) explain that there are basically two ways to encourage customer loyalty: “discounted prices or added convenience” (p. 50). Stonewall covered both of these bases by starting a loyalty program, discount packaging, and gift memberships. Longtime customers can feel rewarded by seeing their discounts grow, and will also be encouraged to bring their friends and relatives into the Stonewall fold, thereby creating an effect of viral customer growth that should see Stonewall become even more popular in the years to come.
References
Johnson, Bob and Hart, Alan (1998). Managing operations. London: 
Butterworth-Heinemann.