By Hakeem Ogunniran Managing Director, UPDC plc.
Find the right Customer
• Competing in a crowded market is suicide.
• Continuous segmentation of potential customers is key.
• Focus on identified segments / customers
Key Drivers of Segmentation
• Social Class
Customer Values and Preferences
• Family size
1.Sell What People
Want To Buy (Right Product)
2. Get Customers’ Insights.
• Determine which housing variants they want
Terraces; Detached houses; semi detached houses; flats; Bungalows etc.
With or without servant quarters
• What Recreational Facilities do they value?
Number of parking lots / visitors car park; Children play area; Swimming pool; Gym, lawn tennis court etc.
• What is their budget / what can they pay for a particular type of offering (value proposition)
• What services & facilities can they afford to pay for: 24 hours facility management; Provision of electricity with back-up power supply and PHCN); Water Supply; Security Services; Fumigation; Refuse Disposal; Sewage System Management; Gardening and cleaning Services; General maintenance
Certain locations or ambience may be more convenient
Some customers will buy the lowest- priced product; others
will buy the product they feel has the best value.
• A solution
The product solves a problem that no competitor solves
This relates to how well the product is built.
• Features/ Benefits
The customer considers one feature or benefit particularly
Ascertain The Reason For Purchase
Most people will buy products that work best.
This is especially important for busy executives and
The product can reinforce the image customers have for themselves, allows them to feel good or impress people.
• Relationship: Some customers buy because they like the way the company
Backup service, correspondences (Demand notices, Acknowledgement, customer complaints resolution)