MARKETING
7th Edition
ISBN: 9781260087710
Author: Grewal
Publisher: RENT MCG
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Question
Chapter 9, Problem 1MA
Summary Introduction
To discuss: The segmentation methods that are suggested for a small entrepreneur selling gourmet chocolates.
Expert Solution & Answer
Explanation of Solution
The segmentation methods that are suggested for a small entrepreneur selling gourmet chocolates are as follows:
Depictions of the various segments help firms better comprehend the customer outlines in every segment. With this data, the marketers can recognize customer comparisons inside a segment and dissimilarities over various segments. The entrepreneur should seriously think about segmentation variables which comprise of geography, lifestyle, convenience and salary in development of their target markets.
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Students have asked these similar questions
Describe market segmentation and how does a company decide on its target markets and market segments? Using any Small Medium Enterprise (SME) as an example, justify your answer.
What segmentation methods would you suggest for a
small entrepreneur starting her own business selling
gourmet chocolates? Justify why you would recommend
those methods.
Analyse FOUR ways that a clothing apparel company could segment the market. Support your answer with real examples.
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Similar questions
- Research Whole Foods (wholefoodsmarket.com) and discuss who you think comprises their target market. Remember to consider all Geographic, Demographic, Psychographic, and Behavioral attributes.arrow_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_forwardThink of a business category. In segmentation scheme, which one(s) do you think would be most effective to sell your products or services? In another word, to which segment do you feel you belong more? why?arrow_forward
- Using the segmentation bases you’ve just read about, segment the U.S. footwear market. Describe each of the major segments and subsegments. Keep these segments in mind as you read the next section on market targeting.arrow_forwardby choosing a product or product category that interests you. Next, prepare a detailed market segmentation analysis for this product by describing your product and explain why your segmentation scheme meets the four essential criteria.Also, provide your rationale for choosing your segment descriptors.arrow_forwardWhat determines good segmentation? List three criteria required for good segmentation.arrow_forward
- Why is it important to determine who your target market is?arrow_forwardWhat types of products would you use demographic segmentation for?How about psychographic segmentation? Explain how these products differ.arrow_forwardAt the last Linking the Concepts, you segmented the U.S. footwear market. and select two companies that serve the footwear market. Describe their segmentation and targeting strategies. Can you come up with a company that targets many different segments versus another that focuses on only one or a few segments?arrow_forward
- Use the bases of market segmentation to describe Boston Pizza's sports bar target market and family dining target market?arrow_forwardDefine the nature and scope of the questions you must answer with regard to your market. Identify the types of information you will need about the market to answer those questions. For example, do you need to know about the buying habits, household income levels, or attitudes of potential customers?arrow_forwardGo to the VALS website (www.strategicbusinessinsights.com/valsustypes.shtml) and review the eight types that VALS uses to segmentconsumers by clicking on the blue links. What two VALS types do youthink Harley-Davidson uses to target young adults? Explain youranswerarrow_forward
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