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Mention a business opportunity and illustrate how do you identify it (is it a trend, solving a problem or market gaps or it is combined between different ways).
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- What forecasting techniques are used in the management of technology and innovation?Define the concept of customer insights and the role itplays in market planning decisions.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.
- Why is market-share forecasting important to the firm?write Each variable in the table below has a corresponding indicator (measurement) from the literature? Nb: independent variable:awareness,convenience and benifit, transection mode of online,preventive management dependent variable: cybercrime, development of ecommerce1. What is a target market? Why is it important to know the target before creating the marketing mix?
- Explain the concept of customer segmentation in CRM. How can it be used to improve marketing efforts?State the relationship between market targeting and market segmentation in the process of marketing strategy. Is market targeting important in the process? Elaborate your answer.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 potential
- Is there a difference between forecasting demand and forecasting sales? Can demand be forecast from historical sales data?You 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.In your opinion, among the four (4) major segmentation variables, which is the most important? Explain Why? As a marketer, why segment the market? Explain what approaches can be used to segment the market and how can this lead to competitive advantage. Identifying and explain three (3) benefits of market segmentation. State the relationship between market targeting and market segmentation in the process of marketing strategy. Is market targeting important in the process? Elaborate your answer. In your outlook, which do you think is the most effective among the (4) strategies of market targeting? Explain why? Which do you think among the four will become profitable in gaining a successful business outcome considering with enough resources?
