MKT33 DB Week 3

We have decided to open our own business called ABC Headphones. Customers to target:   Demographic: Age – mainly young people, people between the age groups 12 – 50 years. Income – Middle class and upper class Gender – Both male and female Geographic: Urban areas Behavioural and Psychographic: Technology-savvy, professionals, student and who live an active lifestyle. 2) Consider the customers you chose to target, select 2 behavioral segmentation variables applicable to your product (ABC headphones).Explain your choice 3) Select a targeting strategy most suitable for your product idea. Explain your choice.

True or False? Most marketers today believe they still lack a sufficient quantity of research data to make high-quality decisions. An effective MIS assessses information needs, develops needed information and distributes the information to help managers use it in decision making. Lifestyle is a person's pattern of living as expressed in his or her psychographics.

Please explain both correct and incorrect A marketer is interested in segmenting a business market based on technology and customer capabilities. Which of the following major segmentation variables would the marketer most likely use to assist with the task? Group of answer choices Personal Characteristics Situational factors Operating variables Demographic variables Purchasing approaches   Note:-  Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.

An automobile manufacturer observes the demand for its brand increasing as per capita income increases. Sales increases also follow low interest rates, which ease credit conditions. Buyer purchase behavior is seen to be dependent on age and gender. Other factors influencing sales appear to fluctuate almost randomly (competitor advertising, competitor dealer discounts, introductions of new competitive models).a) If sales and per capita income are positively related, classify all variables as dependent, independent, moderating, extraneous, or intervening.b) Comment on the utility of a model based on the hypothesis.

Lite beer is an example of which of the four major segmentation methods oconomic segmentation demographic segmentation behavioral segmentation QUESTION 32 Sales penetration refers to your market share a method for sales forecasting the ratio of actual to projected sales QUESTION 33 A product that focuses on the benefits the consumer gets from buying it is alan product generic extended refined QUESTION 36 Which of the following is true about putting a product on a single goods-services dimension with goods on one er it is more precise than other methods of classifying products it limits positioning options it helps segment the market

1a) Consider the various segmentation strategies in the textbook. Which one of the following attributes would most help identify a customer segment for this product of Jackery Explorer 1000 Portable Power Station? (Highlight one answer) Household Size Income Lifestyle Geographic Location Explain your answer:    1b)Jackery Explorer 1000 Portable Power Station. Consider all the products this company offers. What kind of targeting strategy are they using? (Highlight one answer) Undifferentiated Targeting Strategy (mass marketing) Differentiated Targeting Strategy Concentrated Targeting Strategy Micromarketing (one-to-one marketing) Explain your answer: 1c) Identify the positioning method(s) being used in the following promotion. Describe how the company is positioning this product. Cite examples from the image to explain your answer. "Prepare for the Unprepared Image"   1d) Which of the following brand extensions would be the best fit for this product of the Jackery Explorer 1000…

Personal Value is defined as “an enduring belief that a specific mode of conduct or end-state or outcome is desirable or good.” Lifestyles are consumers’ modes of living as reflected in their activity, interests, and opinions. Psychographics, on the other hand, involves the use of psychological, sociological, and anthropological factors to determine how the market is segmented by the propensity of groups within the market and their reason to make a particular decision about a product. a) Discuss the most frequently used measuring instruments of lifestyle-The Rokeach Value Survey (RVS) and the List of Values (LOV); b) Determinants of Life Style & its behavioral impacts; c) Discuss Values, Attitudes and Lifestyles (VALS) framework.

The main purpose of is to enable a company to collect data on consumers 'preferences, spending patterns and other market conditions. Market Mix Quantitative Marketing Market Research Qualitative Marketing II

The proper application of marketing research techniques and methods is likely to:     Have no reliable or consistent impact on marketing decision making     Reduce uncertainty in marketing decision making     Eliminate uncertainty in marketing decision making     All of the above     None of the above

Behavioural segmentation is the process of grouping customers according to their behaviour when making purchasing decisions. Elaborate on the following:   Report on ANY FIVE (5) characteristics of behavioural segmentation. Discuss in detail the importance of behavioural segmentation to any business in general.

10. What specific issues do marketing strategies help marketers determine? A) The goals the marketing plan intends to accomplish B) The marketing objectives of what the marketer will accomplish C) The mix of goods or services to fill a customer's needs or wants D) The marketing activities a business will use to achieve marketing goals E) The features that will differentiate a product from competitors

According to the Boston Consulting Group, marketers may classify their products as all of the following except A. cash cows. B. cash pig. C. dogs. D.stars. E. question marks.

Nonna's Homestyle Foods collects detailed information about the consumers who visit its sites and purchase its products online. It knows, for instance, the average age and geographic location of consumers who purchase family meal kits six or more times a year. This customer information is part of its   Question 19 options:   Evergreen content   Digital assets   Promotional content.   Digital Reputation

Imagine you are a marketing manager for an exercise equipment company. You want to attract elderly people to buy your walking treadmill machine that cost USD10,000. 2. Explain the influence of the reference groups to your target customers using the informational, utilitarian and value influential factors.

OOOO The Davidson Company sells lumber and wants to decide how much inventory it will need over the next year. There is a significant amount of new construction going on in the community. To assess the need for lumber, The Davidson Company looked at the data for lumber sales over the past several years and based his assumptions for future on past Odata. This example shows that it's always a risky to predict growth, but a smart technique is to OO a gather data on the income level of the targeted segment Ob obtain sales data in the industry for several years and draw a conclusion through a moving average O use the census data to see household trends O d.obtain data on the age of potential home buyers

As you start developing the marketing plan, you realize the product (iPad) and customer’s need must match. Customers are motivated to by products and services based on their personnal wants and needs. Research the products your selected company promotes. Choose 1 top product. Cutomer Target: Who is your primary cutomer target? (b) Explain the demographics and psychographic profile of your primary customer. (c) Consider if this target market will change and grow in the next decade. (d) Include this information in this section.Customer segments:Decide if the customer groups should be segmeted. (b) Renmember to segment based on homogenous and heterogenous groups. (c) It is important to make sure the groups are large enough to generate substantial revenue for the company.Product Position: Consider the images of your company and its 1 top product (iPad) (b) What positioning strategy will you incorporate into the plan? (c) Consider how you will position the product in the market. (d)…