determine which of the following market segments they focus on.

Customer segments.

To build an effective business model, a company must identify which customers it tries to serve. Various sets of customers can be segmented based on their different needs and attributes to ensure appropriate implementation of corporate strategy to meet the characteristics of selected groups of clients. Please use information from the company to determine which of the following market segments they focus on.

Here are some different types of segments you may consider:

Mass Market: There is no specific segmentation for a company that follows the Mass Market element as the organization displays a wide view of potential clients. e.g. Car
Niche Market: Customer segmentation based on specialized needs and characteristics of its clients. e.g. Rolex
Segmented: A company applies additional segmentation within existing customer segment. In the segmented situation, the business may further distinguish its clients based on gender, age, and/or income.
Diversify: A business serves multiple customer segments with different needs and characteristics.
Multi-Sided Platform/Market: For a smooth day-to-day business operation, some companies will serve mutually dependent customer segments. A credit card company will provide services to credit card holders while simultaneously assisting merchants who accept those credit cards.

Here is a question you can answer to help you determine this:

On what customer segments do we want to focus?
To what customers are they trying to deliver their value proposition?

Channels.

A company can deliver its value proposition to its targeted customers through different channels. Effective channels will distribute a company’s value proposition in ways that are fast, efficient and cost-effective. An organization can reach its clients through its own channels (store front), partner channels (major distributors), or a combination of both. This is NOT simply marketing! This is about HOW the company delivers on their value proposition.

Here is a question you can answer to help you determine this:

How is the company delivering the value proposition to their customer?
Through which channels do our customer segments want to be reached?

Customer relationships.

To ensure the survival and success of any businesses, companies must identify the type of relationship they want to create with their customer segments. Using company information, please identify what form of customer relationship your company focuses on.

Various forms of customer relationships include:

Personal Assistance: Assistance in a form of employee-customer interaction. Such assistance is performed during sales and/or after sales.
Dedicated Personal Assistance: The most intimate and hands-on personal assistance in which a sales representative is assigned to handle all the needs and questions of a special set of clients.
Self Service: The type of relationship that translates from the indirect interaction between the company and the clients. Here, an organization provides the tools needed for the customers to serve themselves easily and effectively.
Automated Services: A system similar to self-service but more personalized as it has the ability to identify individual customers and their preferences. An example of this would be Amazon.com making book suggestions based on the characteristics of previous book purchases.
Communities: Creating a community allows for direct interactions among different clients and the company. The community platform produces a scenario where knowledge can be shared and problems are solved between different clients.
Co-creation: A personal relationship is created through the customer’s direct input to the final outcome of the company’s products/services.