Contemporary Marketing (MindTap Course List)
17th Edition
ISBN: 9781305075368
Author: Louis E. Boone, David L. Kurtz
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 9, Problem 2C
Summary Introduction
Case summary:
The target for cruise vacation is from the age of 35 or older and mainly for the household income of says at least $60,000. They must be cruised once before this. People need more adventure and innovation in the cruise vacation. Many plans their meeting on sea rather than on land which makes the employees excited. And it is cheaper too than on land.
Marketers target the cruise customers on segmentation of “Explorers” “Admirals” “Marines” “Escapers” “Souvenirs”.
To discuss: The segment of cruise market which is influenced largely by social media and the reason behind it.
Market segmentation refers to the segregation of market into smaller and relatively into a homogenous group.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Product: 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.
Crate and Barrel is an international home furnishings chain operating 120 store worldwide. In 2012 it introduced a new chain called CB2, which sells functional furnishings, furniture, and decor items at lower prices than Crate and Barrel stores. CB2 represents _____ for Crate and Barrel brand
A. Horizontal extension
B. Upscale extension
C. Downscale extension
D. None of the above
This is for a online tutoring business hypothetical that is starting out at small college and then expanding.
Fill out the market analysis:
Market Segmentation: This section is where you will define the main market segments as well as the one or two you will be targeting. Begin with the Total Available Market (TAM) within the industry you plan to compete for. This includes all types of customers that have an interest in or need for your particular products or services.
Total Available Market (TAM): After defining the industry, provide some data on the total number of prospects in the industry or your more narrowly defined market. Is it the number of people above a certain income or households? Is it all businesses between $50 and $150 million? Is it all mothers? Is it all teenagers that drive cars?
Serviceable Available Market (SAM):
Chapter 9 Solutions
Contemporary Marketing (MindTap Course List)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.Similar questions
- What is the major problem faced by Burt’s Bees in this case? e.g., The major problem (or challenge) facing Burt’s Bees is the brand is targeted to an inappropriate segment. WHAT strategic marketing steps should the new owners of the Burt’s Bees company (Clorox) take to overcome this challenge? e.g., Instead of targeting older consumers who are concerned about their health, Clorox should target a new customer segment. They should focus on a younger segment that is environmentally conscious, who would be willing to pay a premium for the Burt’s Bees branded products.arrow_forwardAs a marketing manager in your company, you were asked to develop a marketing plan for a service that your company would like to bring to market. You can choose to adopt an existing company from a particular industry, or you can choose to create a new one. You are required to prepare the following: To assess marketing opportunities by analysing customers, competitors, and their own company (3Cs), To develop the segmenting, targeting and positioning (STP), and To design effective marketing programs by devising appropriate recommendations for pricing, promotion, place, and services products (4 Ps).arrow_forwardCohort segmentation is a method used to segment the market for the greatest strategic implications. Find a healthcare related service, product, or organization on one of a multitude of social networking sites. Review the seven categories. Which cohort segmentation section is the service, product, or organization geared for on the site? Why would this type of marketing be successful? Select another cohort segmentation category. From a management perspective, what recommendations could you make to the marketing department to broaden the marketing efforts to include another cohort segmentation not currently being targeted.arrow_forward
- 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…arrow_forwardAccording to Maslow's hierarchy of needs give an example for each level from real life? Define the major steps in designing a customer-driven marketing strategy: market segmentation, targeting, differentiation, and positioning. Explain with example? What is a value proposition? discuss the five winning value propositions on which company might position its products? Give an example of each As a marketer, you need to target your customer, discuss by defining in which way you can achieve this knowing that you need to consider certain market segmentation. Identify and discuss the stages in the buyer decision process? Explain the major Brand decision strategy decisions with an example of each? Explain how companies attract market segments and choose a market–targeting strategy? Explain briefly what product decisions the company should make at each level?arrow_forwardWhat are the diffrent ways to segment a consumer market? Does it makes sense to use more than just a single segmentation variable? Why or why not? What are the key characteristics os a high potential target market? Is the biggest target market always the best? Why or whty not?arrow_forward
- A consumer packaged-goods company (e.g., Pepsi) has just developeda new beverage. The company needs to estimate the demand for such anew product. What sources of syndicated data could it explore?arrow_forwardPersonal care products are a huge industry. Gaining even just a few percentage points of any personal care category can reap great rewards for small market players. You are to assess the personal soap market and do the following: 1. Identify and define the different markets that are being targeted by the major brands (hint: most of these brands segment the market via benefits). Identify at least half a dozen market segments. 2. Identify a segment that you feel is yet to be tapped and describe this market segment. 3. Propose a concept or mockup for the kind of soap product that you think would attract this identified market segment.arrow_forwardThe George Foreman Grill is a compact cooking appliance with a double- sided cooking surface that is angled to allow fat to drip off the food and out of the grill. Describe a likely target market for this product in terms of its geographic, demographic and behavioural characteristics. How does this target market in your opinion rate with respect to size growth and structural attractiveness? Write a positioning statement for the George Foreman Grill.arrow_forward
- Imagine they have been hired as the director of marketing for a minor league baseball team. The team had virtually no records of past ticket buyers other than a list of last year’s season-ticket purchasers. Develop five ways to build the team’s prospect database in the off-season. Please do fast asaparrow_forwardDevelop an integrated marketing communication plan, covering a 12-month period, for the launch and rollout of a fictional new product or service. The product that our team is using is cerassie tea. 1. Identify and describe at minimum 3 possible consumer segmentsarrow_forwardExplain in detail Helene is the Marketing VP for The Ultimate Shoe Company. The Company wants to expand sales in the women's occupational footwear market (shoes women wear to work in construction, food service, healthcare, etc). A research firm has identified five different segments in the market. Which of the below should Helene consider when deciding which of the five segments will make the best ones for the firm to target? Multiple answers are right: O segment growth potentialO values and lifestyles of segment membersO the segment's psychographic profileO accessibility of the segmentO segment profit potentialO whether the segment is actionablearrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you