Presentation Speech
My presentation speech focuses on two areas of the Garden Renovation business model. The first section entails customer segmentation, and the second section entails the project cost structure. The customer segmentation process is critical in understanding the specific characteristics of the customers and optimizing the marketing strategies to achieve maximum customer value for the business. On the other hand, the project costing structure highlights expenses that the business project will incur based on the budget.
Customer Segmentation
Customers can be segmented into four main groups: demographic, geographic, psychographic, and behavioral. According to Dibb and Simkin (2010), organizational managers must conduct effective market or customer segmentation to create targeted marketing activities that can yield maximum value for the firm. Therefore, the following are some of the characteristics of Garden Renovation project customer segments.
The first customer segment is based on demographics. Demographics relate to the structure of the population in terms of age, gender, race, or ethnicity . Garden Renovation targets children and adult customers. The Garden will have recreational activities for adults and children. The business will consider customers regardless of their gender, race, or ethnicity. The second customer segmentation is based on psychographics. Psychographic segmentation targets the psychological characteristics of customers to determine the services they are likely to purchase. The current business targets individuals seeking a place to relax or engage in different recreation activities such as swimming, enjoying beautiful flower scenery, or eating roast beef. The third customer segmentation for the project is based on physical geography.The geographic segment targets customers based on where they live. The project will target people mainly visiting or living in Costa Brava, Barcelona. The final segmentation is based on behavior. The Behavioral segmentation will consider individuals that love to spend quality time in a beautiful and calm environment.
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