Si In Yoon Loong Case Study
Market segmentation
Market segmentation, where the market is divided into different groups of consumers with based on their needs and wants. The market segmentation helps to concentrate the marketing energy in order to identify the demand and target of segment and increase competitive advantage within the segment. Market segmentation allow companies to differentiate their customers and behaviours in order to adjust their marketing mix strategy to cater the need of different market segments. There are four segmentation bases, which are geographic, demographic, psychographic and behavioral segmentation (Sulekha, 2013).
Primary target market
It is assumed that the primary target market of Sin Yoon Loong is from group of loyal customers who are age range from 35 to 50 years old working class and 55-64 older consumers and salary range from lower or middle range. As the price of a product is inexpensive and affordable. The coffee shop of
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The relaxing atmosphere in the coffee shop has allowed customers to spend a long time per visit. Traditionally, the local coffee shops are used to be a public place, especially for …show more content…
Loyal customers provide repeat business and less likely to shop around for a better deal (John & Shiang, 2001). Building customer loyalty is helping companies to sustain their business volume and profitability. Reichheld and Sasser (1990) stated that profit can be increased 125% by just retained 5% of its customers. It is due to reduced from marketing costs, reduced operational costs and increased sales. Loyal customers will also help to promote a company 's brand. The value proposition of Sin Yoon Loong is Customer Intimacy, which provides service to get closer to the customer in order to strengthen customer loyalty (Yim, Tse & Chan,
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