MARKETING; CONNECT ACCESS
7th Edition
ISBN: 9781260985788
Author: Grewal
Publisher: MCG
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Chapter 9, Problem 5MA
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To discuss: The key factors and the time to evaluate the profitability of different segments.
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- Choose any organization of your own choice and identify the products offered and what are the key components of the marketing environments that affects a firm’s marketing effort. Prepare the report.arrow_forwardChoose a fast-food restaurant chain that does business in your area. Describe the company's target market and explain how its marketing mix is designed to appeal to this target market. Explain how they segment the market to match their product/servicearrow_forwardYou are opening a bookstore, and now working on the marketing plan. Select two target markets for your business. Please explain the criteria you considered in segmentation. Present an appropriate marketing mix for each target market. Provide explanations on your decisions.arrow_forward
- Identify three criteria Woolworths could use for market segmentation. Justify your choices.arrow_forwardIs it a good strategy to focus most marketing efforts on the most profitable customers?arrow_forwardIn order for a market to exisit, there must be a need for a product, ability to pay, willing to buy, authority to buy, and be a group large enough to result in a profit. Without these, you do not have a viable market. What are some things a person can do to prevent not having a viable market?arrow_forward
- How would you describe a "market niche?" Describe four product/services that you own or consume that you would consider to be "niche" products. Why do you believe this to be true?arrow_forwardTo conduct a consumer analysis for the product—the good, service, or idea—in your marketing plan: 1 Identify the consumers who are most likely to buy your product—the primary target market—in terms of (a) their demographic characteristics and (b) any other kind of characteristics you believe are important. 2 Describe (a) the main points of difference of your product for this group and (b) what problem they help solve for the consumer in terms of the first stage in the consumer purchase decision process in Figure 4–1. 3 For each of the four outside boxes in Figure 4–4 (marketing mix, psychological, sociocultural, and situational influences), identify the one or two key influences with respect to your product. This consumer analysis will provide the foundation for the marketing mix actions you develop later in your plan.arrow_forwardImagine that you want to start your own business. For your business (e) Develop a brief marketing strategy for your new business, and state your marketing strategy, including short-term and long-term strategies (f) Will vour business hire employees or independent contractors (ICs)? Why? What reasons do you have for choosing employees or ICs? Does your classification conform to the law? (g) What are some of the major legal risks your business may face in employment, marketing, sales, purchasing and/or development (vou may wish to consider tort risk, criminal law risk, agency and employment risks, contract risks, or any other legal risks). Be sure to respond to all parts of all questions by 11:59pm EST Sunday.arrow_forward
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