Contemporary Marketing (MindTap Course List)
17th Edition
ISBN: 9781305075368
Author: Louis E. Boone, David L. Kurtz
Publisher: Cengage Learning
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Chapter 2, Problem 4CTE
Summary Introduction
To Discuss: The strategy for expanding target market.
Introduction: Marketing strategy is the systematic preparation figured especially to achieve the marketing goals of the business. It gives a proposal to accomplishing these marketing objectives. It is the element of a marketing plan.
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In a small group, present a plan for a new retail store. Who is the target market? Describe the merchandise, atmospherics, price points, services provided, location, and how you would promote your retail store. Describe how you will differentiate your store from competitors.
How does a specialty store differ from a category killerand a discount store?
Deciding on a target market and positioning for aretail store are very important marketing decisions.In a small group, develop the concept for a new retailstore. What is the target market for your store? Howis your store positioned? What retail atmospherics
will enhance this positioning effectively to attract
and satisfy your target market?
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Contemporary Marketing (MindTap Course List)
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- How does a traditional specialty store attract customers?arrow_forwardHow 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_forwardHow could the following retailers best apply scrambled merchandising? Explain your answers Local fruit and vegetable store Apollo Pharmacyarrow_forward
- Explain why a retailer should be concerned with market segmentation and identifying a target market. Define and discuss the three criteria that should be met to reach a target market. NOTE: the criteria is in the photo attached.arrow_forwardInterview the manager or marketing manager of a retail firm. Determine how this individual develops the marketing strategy. Compare this person’s process with the approach described in the textarrow_forwardComplete the table and then plot the products / companiesarrow_forward
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