Explain why a retailer should be concerned with market segmentation and identifying a target market. Define and discuss the three criteria that should be met to reach a target market. NOTE: the criteria is in the photo attached
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- To create customer value and build strong customer relationships, marketers know cannot go it alone; therefore, they practice, a. customer equity b. partner relationship management c. database marketing d. attractive Web site designWhat is the definition of marketing?Single choice. a. a philosophy that stresses customer satisfaction b. planning sales campaigns c. advertising and promotion activities d. sellingMarketers sometimes collect primary information by usingso-called mystery shoppers who visit stores anonymously(as if they were customers) and note such critical factors asstore appearance and ambiance, items in stock, and qualityof service including waiting time and courtesy of employees. Prepare a list of data you would want to obtain from amystery shopper surveying a chain of electronics stores inyour area. Devise a format for gathering the information thatcombines your need to compile the data electronically andthe researcher’s need to remain undetected while visiting thestores
- answer must be brief and concise describe the marketing mix (7Ps) in relation to business opportunity vis-a-vis: a. product b. place c. price d. promotion e. people f. packaging g. positioningWhat is meant by the following concepts? a. Electronic Marketing. b. Fully digital products. c. Subscriptions formProduct: Amazon Echo & Alexa Devices Choose one market segment for your product and describe that segment in as much detail as possible. You need to explain the common need/want of potential customers in the segment, the demographic characteristics of the segment, the psychographic characteristics of the segment, and the geographic characteristics of the segment.
- 2 Which of the following is not a market segmentation method? a) geographical factors B) demographic factors NS) Psychological and sociological factors D) Activity TO) Goods-customer relationship factorsList the Trends in B-to-B Internet Marketing?How does market research contributes to designing a total concept of a bar, to creating your total uniqueness?
- Your potential target and customer segmentation with focus on Digital solutions i. Actual customer ii. Potential customers iii. Aspirational customer 2. Potential approach to close your segmentation and identification of ¨personas¨ i. Bundling ii. Portfolio i ii. Product line iv. Promotionsor incentives Ans both otherwise don't ans4. It includes specific customers to whom a company directs its marketing efforts. A.Potential Market B. Available Market C. Target Market D.Penetrated Market1. Customers prefer one brand over another based on its value, which, in turn, is based on different combinations of a. perceptions and costs. b. needs and wants. c. benefits and perceptions. d. benefits and costs. 2. Understanding your target market so well that you build a relationship with them over time defines what? a. a social orientation b. a sales orientation c. customer relationship marketing d. retention of sometimes undesirable customers 3. Which statement is valid in managing exchanges between a company and its customers? a. The company wants to maximize customer benefits b. Customers are the primary drivers of the purchase decisions. c. Customers want to pay the least amount possible d. The two parties have conflicting goals 4. Cover Co. is a new company with two employees: the husband and wife that founded the company. Cover makes trash can covers that help keep outdoor trash cans secure. Which segmentation method would Cover be least likely to use and why? a.…