Customers play a significant role in the success or failure of your business. In fact, the customer is the actual boss in all dealings and responsible for profits generated for your business. The customer is the one who uses the products and services and judges the quality of those products and services. Hence, it’s important for your business to prioritize and retain former customers as well as continually gain new customers to sustain and grow the business. A strategy to gain new customers includes segmenting your current customers into groups which will help determine how to satisfy and attract your desired customer group.
Your segmenting strategy should also take into account:
• Age group of the customers
• Geographical location
• Lifestyle of customers
• Social status of customers
— For more lessons like this, purchase your copy of Act Like a Business: Think Like a Customer by Dr. Elijah Clark from all major bookstores. —
Dr. Elijah Clark (December 13, 2022). Types of Customers [Web log post]. Retrieved from https://elijahclark.com/lesson-157/