Abstract
M.Comm.
Many variables exist that influence buyer behaviour in the narrow reef gold
mining market. Since some variables are real but subjective in nature, such as
the opinion and charisma of mine managers or influential individuals, it is
difficult to quantify and analyse them. The question is ? Which variables,
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quantifiable or not, are more dominant in shaping buyer behaviour and how
should they be prioritised?
What is needed is a logical segmentation model which reflects true buyer
behaviour in order to shape future strategies in AEL so that the overall
company objectives can be met. Each segment should then be analysed and
considered regarding attractiveness in satisfying needs and the ability to add
value both to the customer and to AEL. It is also required to target market
segments and develop a marketing mix for them so that AEL is correctly
positioned to retain the markets it choose to compete in.
The problem is the failure to identify market areas of similar response
which are relatively stable and can be used to select areas where maximum
value can be added to the customer and to the company and can be used to
shape and define future direction.
The following objectives have been set for this study:The establishment of a market segmentation model which will identify and
explain the basis of similarities and differences in buyer behaviour groups which
is sufficiently large and stable in order to focus future strategies.
- The interpretation of the segmentation model in the light of the strengths,
weaknesses, opportunities and threats of the company in order to target
markets best suited to the potential of the company.
- Development of strategies and positioning in the target markets to strengthen
the chance of success.