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yes off course for ex. if u sold a expensive items so u should select the customer needed to can by ur items
It depends on our product/services, as we need to find whether customer can afford it or what kind of strategic we can opt in to make the customer feel, to use our product/services and some times we can do R&D and have specific product/ services to target particular set of customers.Thanks!!
All customers are to be happy with your business or products. Hence my suggestion is to have different range of products which can satisfy different income group. The attitude or behaviour of people need not be related to their income, so understanding the customer is the most important part.
Not necessarily, though income is a criteria to segment your market. It depends on the type of product and if you charge a premium price. Income is relevant in industries like telecom where subs are identified by spent/subscription, hence income level become very relevant.
Yes, for example: if a client has a weak monthly income he can not sell him an expensive commodity.
I find that a very important and core question for a business and yet a lot of Companies focus on customers with large income over customers with lower incomes , Yet it depends on your product and your targeted customers.It is easier to get 100 Customers spending 5$ each a week rather then 10 customers spending 100$ a month now if you focus on the 10 Customers who are spending 50$ a month that is a 500$the 100 customers spending 5$ each a week all together brings in 2000$ a month so all customers should be treated equally as business grows in numbers not on what income a customer has.
Agreed with the experts answers.
It depends on the type of product/services and not just by evaluating or discriminating your customers economic status or maybe let the customers decide. With this, it might test your skills on how you communicate with them to give superior customer satisfaction on all of your customers/clients.
As part of any qualification process, it is required at times to target your clients on income levels. Are you going to try and sell a yacht to someone just leaving school, or to someone who has just sold a succesful business? Horses for courses. If you know your market, your target audience, then you know your client and where your product fits. Any business needs to conduct this as part of their SWOT before even considering a launch.
not necessary, you can chooses anyone who can pay but you benefits more from the high income customer then the low one because the high income customer manages a big business and his demands should be greater
I think that the Budget and Income of the customer is important and essential factor for any selection to ensure the payment. Besides that, there are many other factors have to be considered to promote and develop the sales process with the customer as :
1- Nature & Value of the product and service which need to be sold, Low value / High value
2- Business relationships history with the customers and their needs and requirements
3- Loyalty of the customers to the Brand and method of the payment to cover their demands
4- Company policy in respect of the customers awareness to increase the Market Share/ Dealing with various categories of the customers with different levels of income
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