Choose an industry you are familiar with (such as cell phone service or hospitality industry) and create a perceptual (positioning) map showing the positions of the different competitors in the industry. Use attributes that you think consumers use to make decisions.
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Choose an industry you are familiar with (such as cell phone service or hospitality industry) and
create a perceptual (positioning) map showing the positions of the different competitors in the
industry. Use attributes that you think consumers use to make decisions.
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- Discuss the concepts of market segmentation and product positioning, and explain how they are related. What are the variables that can be used to segment markets? Also, how many variables should typically be used to segment markets efficiently? Justify your answer.In selecting the business level strategy, explain why it is important to consider the following dimensions: The Customer Needs and Wants Socioeconomic segmentation Perpetual factor segments The Industrial and Commercial Consumers: End user Segments Products Segments Customer Size SegmentsPlease explain it using the decision tree!
- What variables might be used to segment these industrial markets? (a) industrial sweepers, (b) photocopiers, (c) production control systems, and (d) car rental agencies.Segmentation, Target Market Identification and Positioning: What are some ways one can conduct a segmentation analysis considering various ways to segment the wider market and select the optimal target market segment(s) for generatorsAssume you are the newly recruited Business Development Executive for a leading plant nursery retailer. The management of the company has employed you as a Business Development Executive to undertake primary research on the following areas and present the research findings to the Board of Directors within the next two months. Expected areas to be covered in your research study are as follows: Factors that influence to make the final decision to undertake home planting. Your conclusions can be from literature and opinions that you have elicited from interviews of 5 consumers who are practicing houseplant and gardening.
- What variables might be used to segment these industrial markets? (a) industrial sweepers, (b) photocopiers, (c) computerized production control systems, and (d) car rental agencies.Find words which mean the following. 1 a company's sales expressed as a percentage of the total market 2 short-term tactics designed to stimulate stronger sales of a product 3 the situation in which there is only one seller of a product 4 companies offering similar goods or services to the same set of customers 5 a short and easily memorized phrase used in advertising 6 the division of a market into submarkets according to the needs or buying habits of different groups of potential customers 7 a small and specific market segment 8 a factor which makes you superior to competitors in a certain respect 9 a business's total sales revenue 10 a period during which an economy is working below its potentialA marketer may use both marketing research, and/or marketing intelligence to gather vital information for the purpose of decision-making. Define the meaning of both terms, and discuss the circumstances under which marketing research and marketing intelligence would be of use to the marketer. Please use appropriate examples to show the usefulness of these tools.
- As 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).Identify the categories of variables used by Umpqua Bank to segment the business and consumer markets. What additional variables might help the bank define suitable segments for marketing attention?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…