Marketing
14th Edition
ISBN: 9781259924040
Author: Roger A. Kerin, Steven W. Hartley
Publisher: McGraw-Hill Education
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Question
Chapter 9, Problem 4AMK
Summary Introduction
To discuss: The size of market and to provide a detailed justification for the marketing segments a) dormitory students b) day commuters c) People working in the area.
Introduction:
Marketing is an activity in which set of institutions are created, communicated, delivered and exchanged so that value can be added for the customers and other clients as a whole.
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Students have asked these similar questions
Imagine yourself as Business Development Manager in ABC and your task is to create new business strategies for your products and increase sales volume and diverse customer portfolio. Before you start, we would like to give some information about our current customer portfolio as follows:
Customer Segment
Percentage of segment
Revenue Stream
High-end / Michelin Restaurants
37%
50%
Mid to High Restaurants
43%
34%
Cafes / Small Restaurants
20%
16%
Table shows our customer distribution by percentage of each segment and share of each segment in total revenue.
Questions:
(a) How would you increase sales among current customer portfolio (aka chefs/restaurants)? Which group of chefs/restaurants would you focus and why? Which channels would you use to reach your prospective customer and sell your products to them?
(b) Remember your idea for new target group suggested by you in previous case, in which platforms or places would you sell your products among your…
Which of the following is not a criterion that must be met when evaluating segment attractiveness? a. Substantial b. Reachable c. Defined d. Responsive e. Profitable
Select a market or product category for study. Whether it’s a market in which the firm already competes, a new but related market or product category, or a totally new market, the overall market or product category should be clearly defined.
Choose a basis or bases for segmenting the market: There are no foolproof procedures for selecting segmentation variables, but the segmentation scheme must produce segments that meet the four essential criteria discussed earlier in this chapter (substantiality, identifiability, and measurability, accessibility, and responsiveness).
Select segmentation descriptors: Segmentation bases need to be clarified with descriptors to identify the specific segmentation variables to use. For example, if a company selects demographics as a basis of segmentation, it may use age, occupation, income, or some combination of these as descriptors.
Profile and analyze segments: The purpose of this step is to determine the segments’ size, expected growth, purchase…
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