You are the marketing manager for Bilbo Industries. You have been asked to estimate the demand for a new toy (not aimed at adults), a remote- control rocket that sells for $300. Based on the following information, determine your optimal target market and figure out the number of people, using the chain ratio method, who would be in the target market. Use all three segmentation variables. The # of households (HH) in the US = 100 million. HH income: $30,000 and below: 10% $30,001 - 60,000: 65% $60,001 and above: 25% Children in the HH: no kids: 65% kids below the age of 5: 15% kids 6-18: 20% Of the households with kids, 20% have only boys & 20% have only girls and 60% have both. O 35 million O 1 million O 3 million O 4 million
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- We have decided to open our own business called ABC Headphones. Customers to target: Demographic: Age – mainly young people, people between the age groups 12 – 50 years. Income – Middle class and upper class Gender – Both male and female Geographic: Urban areas Behavioural and Psychographic: Technology-savvy, professionals, student and who live an active lifestyle. 2) Consider the customers you chose to target, select 2 behavioral segmentation variables applicable to your product (ABC headphones).Explain your choice 3) Select a targeting strategy most suitable for your product idea. Explain your choice.1a) Consider the various segmentation strategies in the textbook. Which one of the following attributes would most help identify a customer segment for this product of Jackery Explorer 1000 Portable Power Station? (Highlight one answer) Household Size Income Lifestyle Geographic Location Explain your answer: 1b)Jackery Explorer 1000 Portable Power Station. Consider all the products this company offers. What kind of targeting strategy are they using? (Highlight one answer) Undifferentiated Targeting Strategy (mass marketing) Differentiated Targeting Strategy Concentrated Targeting Strategy Micromarketing (one-to-one marketing) Explain your answer: 1c) Identify the positioning method(s) being used in the following promotion. Describe how the company is positioning this product. Cite examples from the image to explain your answer. "Prepare for the Unprepared Image" 1d) Which of the following brand extensions would be the best fit for this product of the Jackery Explorer 1000…THERE IS NO CASE STUDY OR TASK I want you to Describe the target market of Deciem company. Label each target market with a consumer mindset and then describe the target market based on the four segmentation variables (Demographic, psychographic, behavioural and geographic)
- For each of the following products, identify the segmentation base that you consider the best for targeting consumers: (a) biscuits, (b) shampoo, (c) wireless broadband, and (d) holidays. Explain your choices. You are required to use 4 key types of market segmentation provided Geographic, Demographics, Psychographics, BehaviourFor each of the following products, identify the segmentation base that you consider the best for targeting consumers: (a) biscuits, (b) shampoo, (c) wireless broadband, and (d) holidays. Explain your choices. You are required to use 4 key types of market segmentationFor each of the following products, identify the segmentation base that you consider the best for targeting consumers: (a) biscuits, (b) shampoo, (c) wireless broadband, and (d) holidays. Explain your choices. You are required to use 4 key types of market segmentation provided
- By dividing its market according to this specific type of market segmentation McDonald's may offer a variety of breakfast options of Spam and rice in Hawaii, tacos in Arizona, and lobster rolls in Massachusetts. What type of market segmentation is McDonald's utilizing? Psychographic segmentation Geographic segmentation Behavioral segmentation Demographic segmentationOpera Philadelphia tries to target young people who like to go to concerts. Which segmentation is NOT used to find this target market? Group of answer choices Behavioral Psychographic Geographic Demographicconsumer behavior aspects related to the Nescafe 3 in 1 Pakistani Brand, such as motivation, learning, attitude, perception and personality of the consumer. Report the current marketing practices used by marketers (of that particular company / brand) to influence Consumer with statistics analysis?
- The George Foreman Grill is a compact cooking appliance with a double- sided cooking surface that is angled to allow fat to drip off the food and out of the grill. Describe a likely target market for this product in terms of its geographic, demographic and behavioural characteristics. How does this target market in your opinion rate with respect to size growth and structural attractiveness? Write a positioning statement for the George Foreman Grill.Life-stage segmentation doesn't provides a powerful marketing tool for marketers in all industries to better find, understand and engage consumers Select one: True FalseAs you start developing the marketing plan, you realize the product (iPad) and customer’s need must match. Customers are motivated to by products and services based on their personnal wants and needs. Research the products your selected company promotes. Choose 1 top product. Cutomer Target: Who is your primary cutomer target? (b) Explain the demographics and psychographic profile of your primary customer. (c) Consider if this target market will change and grow in the next decade. (d) Include this information in this section.Customer segments:Decide if the customer groups should be segmeted. (b) Renmember to segment based on homogenous and heterogenous groups. (c) It is important to make sure the groups are large enough to generate substantial revenue for the company.Product Position: Consider the images of your company and its 1 top product (iPad) (b) What positioning strategy will you incorporate into the plan? (c) Consider how you will position the product in the market. (d)…