Marketing
14th Edition
ISBN: 9781259924040
Author: Roger A. Kerin, Steven W. Hartley
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Question
Chapter 9, Problem 4AMK
Summary Introduction
To discuss: The size of market and to provide a detailed justification for the marketing segments a) dormitory students b) day commuters c) People working in the area.
Introduction:
Marketing is an activity in which set of institutions are created, communicated, delivered and exchanged so that value can be added for the customers and other clients as a whole.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
A car manufacturer, located in Australia, wants to find suitable segments for its new small car. Which segmentation variables do you recommend them to use and why?
After a company has defined its market segments, it can entre only one segment
Select one:
True
False
What variables might be used to segment these in-dustrial markets? (a) industrial sweepers, (b) pho-tocopiers, (c) computerized production control
systems, and (d) car rental agencies.
Knowledge Booster
Similar questions
- A college wants to focus its marketing efforts on retention of current students. They have a choice of segmenting the undergraduate student market on either geographic or psychographic basis. Discuss the different between the two-segmentation basis and which one would be a better approach and justify your answerarrow_forwardWhat can be the segmentation strategy of a stainless steel pan with digital thermometer reading that is powered by the heat generated while cooking? How can a geographic segmentation method and a benefit segmentation method benefit a stainless steel pan with digital thermometer reading that is powered by the heat generated while cooking? What external data can I use to support the claim that the consumers living within regions with hot climate will buy the stainless steel pan with digital thermometer reading that is powered by the heat generated while cooking and that sales will be higher in summer? Using the differentiated targeting strategy, how can we target the home cooks and professional chef segments to buy the stainless steel pan with digital thermometer reading that is powered by the heat generated while cooking? Using the PESTEL analysis, identify and explain the environmental factors that could affect the launch and commercialization of the stainless steel pan with digital…arrow_forwardCreate a segment type of a target market by describing them in terms of demographic, geographic, psychographic, and behavorial characteristics.arrow_forward
- You are considering setting up a take-away in your community in the area in which you live, using the 4 P’s discuss how you would market each stage of the take away considering there is another take-away in that area.arrow_forwardImagine yourself as Business Development Manager in ABC and your task is to create new business strategies for your products and increase sales volume and diverse customer portfolio. Before you start, we would like to give some information about our current customer portfolio as follows: Customer Segment Percentage of segment Revenue Stream High-end / Michelin Restaurants 37% 50% Mid to High Restaurants 43% 34% Cafes / Small Restaurants 20% 16% Table shows our customer distribution by percentage of each segment and share of each segment in total revenue. Questions: (a) How would you increase sales among current customer portfolio (aka chefs/restaurants)? Which group of chefs/restaurants would you focus and why? Which channels would you use to reach your prospective customer and sell your products to them? (b) Remember your idea for new target group suggested by you in previous case, in which platforms or places would you sell your products among your…arrow_forwardSelect 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…arrow_forward
- Define the term Geodemographic segmentation?arrow_forwardWhich of the following would most likely benefit from being categorized as segmentation by product usage? Protection services Fast food restaurant Silicon Valley Dairy farmers.arrow_forwardSegmenting buyers by personal characteristics such as age, income, ethnicity and nationality, education, occupation, religion, social class, and family size is called demographic segmentation. TRUE OR FALSE? According to the content of the article below (also placed in module 3), the discussion in the article is about Psychographic segmentationUeltschy, L.C. ( 2011 ), Targeting the growing Hispanic market: ethnicity and media preferences, Marketing Management Journal, Vol. 21 No. 2, pp. 10 - 21 TRUE OR FALSE? McDonald's conducted a survey that helped develop products as per geographical areas. It realized that half of Indians are vegetarian and hence offered limited meat products. It developed the Veg Maharaja Mac. According to the chapter readings (Module 3), this an example of geodemographic segmentation. True OR False?arrow_forward
- You have been asked to identify various segments in the market andthen a potential targeting strategy. Describe the segments for a petsupply store, and then justify the best targeting strategy to use.arrow_forwardThe owner of JustRight grocery use market information classified as segmentation bases to segment consumer goods and service markets. These criteria include demographic, behavioural, psychographic, and psychological factors. Which of the following does not constitute a psychographic segmentation? Select one: A. A Roman Catholic, with a graduate degree B. Enjoys healthy living C. Enjoys Netflix box sets D. Buys quality rather than economyarrow_forwardWhich of the following is a disadvantage of employing a multiple products, multiple market segments strategy if not implemented well? Select one: a. meeting customer needs but at the expense of higher prices b. reduced quality and higher prices c. lower prices but with higher production costs d. higher quality but lower prices e. higher sales but lower profitsarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios