Sustainable revenue stream by understanding customer segmentation: Analyzing the market and recognizing customer segments helped me understand the targeting opportunities while creating the marketing strategy. Hence customer segmentation and customer needs analysis helped me make product design decisions and associated trade-offs, which eventually helped me build a sustainable revenue stream for the organization. For allocating my budget, I examined the needs of various customer segments and decided which customer segment I want to attract while still keeping in mind the needs of existing customers as well. The majority of customers buy large quantities of motors from the company directly, while the remainder buys limited quantities from distributors. The simulation has assisted me to understand the importance of segmentation, targeting, and positioning while creating a marketing strategy. Leveraging segment/customer needs analysis for making product design decisions and building customer acquisition and retention strategies were among my best learning from the simulation.
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