1. Who are qualified to be the market of this product? (Demographic Segmentation) 2. Why did you choose this product? Please explain briefly. (Behavioural Segmentation) 3. How will you know that this product is really valuable for the market? (Psychographic Segmentation)
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Task 1. You are tasked to choose for one specific product and answer the following questions:
1. Who are qualified to be the market of this product? (Demographic Segmentation)
2. Why did you choose this product? Please explain briefly. (Behavioural Segmentation)
3. How will you know that this product is really valuable for the market? (Psychographic Segmentation)
4. Where can you easily locate the product? (Geographic Segmentation)
5. In your own opinion, what are some of the reasons why positioning is an important tool for competitive advantage?
6. How can a brand successfully positioned for consumers of several target markets? Explain your answer.
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- What variables might be used to segment these consumer markets? (a) lawnmowers, (b) frozen dinners, (c) dry breakfast cereals, and (d) soft drinks.Product: Apple HomeLife Conduct a segment analysis and identify the primary target market that your company with create the marketing strategies for. 1) Look for all possible customer segments and exclude those that are not identifiable as a potential customer. Describe and or explain all the applicable segment variables with a brief analysis including why the segment is relevant. Demographics (age, gender, income, family lifecycle, education, religion, geographic, etc, etc, etc) Psychographics (e.g. attitude, mindset) Behaviors (e.g. purchase behaviors) Be sure to include ALL segment variables (ie prospects) that are relevant to your product. Do not select or describe your target market here. 2) Primary Target Market Description (multi-segment) Select a combination of segment variables to describe your primary target market. This target market will serve as the focus for your marketing strategies. Include reasons for selecting the target market you identified: why attractive and…we have decided to start a new business called ABC headphones. We will be selling a variety of diff head phones. 1 ) What are the customer's needs this product will be able to meet? 2) What can make our product competitive, what is the advantage to selling this type of product? 3) What customers can be targeted by this business, age groups, geographic regions, income level, gender.
- 1. How Michael Porter’s five forces model can help marketers to analyze segment attractiveness? Explain with help of examples. 2. Suppose you are planning to launch a new product in the Pakistani market. What criteria you will use for an effective market segmentation strategy? Provide examples where applicableIn your opinion, among the four (4) major segmentation variables, which is the most important? Explain Why? As a marketer, why segment the market? Explain what approaches can be used to segment the market and how can this lead to competitive advantage. Identifying and explain three (3) benefits of market segmentation. State the relationship between market targeting and market segmentation in the process of marketing strategy. Is market targeting important in the process? Elaborate your answer. In your outlook, which do you think is the most effective among the (4) strategies of market targeting? Explain why? Which do you think among the four will become profitable in gaining a successful business outcome considering with enough resources?Huawei is avoiding some regions in Africa to become a market for their products because of certain political and technological barriers. It is just too difficult for them to reach this market. Which criteria for market segmentation is illustrated in this case? a. Profitability b. Measurability c. Actionability d. Accessibility
- Suppose you are planning to launch a new product in market. What criteria you will use for an effective market segmentation strategy?C. how can a company effectively identify and target the most profitable customer segments within a chosen market? What strategies can be used to maximize profitability within these segments?1. What is market segmentation. 2. What is market targeting. 3. Illustrate the picture above.
- Find words which mean the following. 1 a company's sales expressed as a percentage of the total market 2 short-term tactics designed to stimulate stronger sales of a product 3 the situation in which there is only one seller of a product 4 companies offering similar goods or services to the same set of customers 5 a short and easily memorized phrase used in advertising 6 the division of a market into submarkets according to the needs or buying habits of different groups of potential customers 7 a small and specific market segment 8 a factor which makes you superior to competitors in a certain respect 9 a business's total sales revenue 10 a period during which an economy is working below its potentialAssume you are the newly recruited Business Development Executive for a leading plant nursery retailer. The management of the company has employed you as a Business Development Executive to undertake primary research on the following areas and present the research findings to the Board of Directors within the next two months. Expected areas to be covered in your research study are as follows: Factors that influence to make the final decision to undertake home planting. Your conclusions can be from literature and opinions that you have elicited from interviews of 5 consumers who are practicing houseplant and gardening.1. Below is a list of potential market segments (please see diagram), the task for this activity is to develop a Developing segment profile for a few of the segments. MARKET SEGMENTS Convenience driven consumers These are consumers that are looking to simplify the purchase, or its process, and are primarily seeking the benefit of convenience. Budget conscious shoppers These consumers may make their purchase decision based on the lowest price, or select the product that represents the best value for money. Focus on quality This is a segment of consumers who are interested in higher quality products and services. Many consumers in this segment believe that buying higher quality represents better value over time. Rational, value for money The consumers in this market segment are more involved in the purchase decision and look to make decisions on a “best product solution” basis. Attracted to strong brands This market segment is less involved in their purchase decision, and will rely…