Mba 565 Final Exam

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Midterm Exam 1. Jobe Smith has decided to build his manufacturing business (lawn mowers in the U.S.) around the production concept. If this approach is taken, what will be Mr. Smith’s primary areas of concentration as he builds his business? What issues might Mr. Smith face in deciding to go with this concept as he builds his business? Mr. Smith has decided to use one of the oldest marketing concepts, production. The Production Era is said to have taken place primarily during 1870 to 1930, therefore this concept seems to be very dated. (Fullerton, 1988) This concept believes that consumers are more interested in obtaining a product that is readily available at a good price rather than a quality product with quality features. Mr.…show more content…
How should this market be segmented? Identify the key segmentation variables that are relevant for this market. She needs to identify the behavioral segment of who she is targeting. She would be able to move in to a smaller group of consumers by using some psychographic testing in the market. This way she would be able to find out what the interests are in the group she is targeting as her consumer group. Is this group the young, up and coming baby boomers that need to know exact time throughout the day and night? Many people in this age of cell phones are using their cell phones for a way to know what time it is, she must try to target people who like the fashion of a watch and at the same time the concept of knowing what time it is by looking at their wrist, not at their cell phone. The demographics of her market would have to be high end, young professionals who appreciate good watches and clocks that are decorative and useful. Would her watches and clocks be able to also tell a person what time it is in another country? Many businesses are working globally and need to know what time it is in the consumer’s market during the work day. When she realizes who her market group is, she needs to decide how to market the product. She would do this by developing a new market strategy. She would need to establish what her goals and objectives are and move forward using those goals and concepts. The concepts she will
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