5-1 Milestone Two - MSF
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Running head: Marketing Strategy Framework
1
5-1 Milestone Two: Marketing Strategy Framework
October 22, 2023
INT-640
Southern New Hampshire University
Marketing Strategy Framework
Marketing Strategy Framework
Target Market
The first market space that provides the best opportunity in the e-commerce, online shopping industry will be middle-aged families making at least $85,000 annually. Another market space would be people in the 25-34 age group, as per Start.io states that ages group comprising over 45 percent of Amazon’s total audience. Rivalry
“Competitive rivalry is the measurement or intensity of competition between companies in the same field or industry. Some competitive rivalry is often healthy for all businesses involved, as it encourages product and service innovation and discourages unnecessary price increases for customers. However, excessive competitive rivalry can pose challenges to some companies.” (Indeed Editorial Team, 2022a). Some can be the set prices of services or products, lowering your prices to undercut the competitive companies. A company chooses to increase their advertising to draw more customers to their business and away from competitors. Purpose(s)
Expanding internationally creates many opportunities for any business.
There are good reasons Amazon is moving forward with expanding internationally is to access new markets, customers base, global growth opportunities, and bring in new sources of revenue. Expanding globally opens the chances for Amazon to produce a product or service that is not currently available Trinidad and Tobago population and growing communities. Another major reason for expansion is because Amazon top competitors do not offer many or even any services 2
Marketing Strategy Framework
internationally. Another reason is the growth of Amazon Prime, per the company dossier the
biggest markets are Germany, the UK, and Japan. Market Share, Financial, and Branding Expectations
6 Months:
Work with officials to meet with potential local partners, the notice of Amazon coming to T&T will be out in two weeks, at a 5% growth. Amazon is expected to see a 10% increase in market share and financials. 12 Months:
We project a 30% increase in market share and financials. We will then have built a strong foundation and partnerships. Our focus at this stage is to ensure trust and brand stability is in order. Branding will be at a 20% rise as we continue to build. 18 Months:
Projecting a 45% growth within the market share and 40% increase in financials. Branding would be at a 40% inflation within the chosen market. 24 Months:
By the end of two years, we project that would have 50% total market share and see a 60% increase in financials. We will also have the potential to achieve 80% growth in our target audience with direct marketing.
Strategic Marketing Objective
The marketing objective will be to acquire local partners in Trinidad and Tobago. “Establish collaborations with local regulatory consultants, legal experts, and industry associations to gain insights into local requirements and access regulatory networks.” (Vieilledent, 2023). Because the country has many restrictions it will be best to first focus on who and what companies will be best work with. This marketing objective will help with smoothing the transition for expansion and acquiring more acquisitions. In turn this will also 3
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Related Questions
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.
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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…
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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
False
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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 beſin 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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consumers who want a multi-purpose cleaner; customers who want an anti-bacterial
cleaner; customers who wants a stain-removing cleaner and customers who wants a
nice-smelling cleaner. Which segmentation base is used by this company?
O 1) Geographic segmentation
2) Demographic segmentation
3) Behavioural segmentation
4) Psychographic segmentation
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Explain " How is the marketing mix (4P+S) for automobiles likely to differ when marketing to each one of the following segments?"
a. College students
b. CEO's
c. Blue collar workers
d. Housewives
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When it comes to market segmentation and target marketing, all of the following are
correct with the exception of
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involves only geographic segmentation.
Marketers refer to the target market profile when making decisions regarding
both the product attributes and the advertising messages developed to promote
the product.
A brand is "democratized" if customers can control the marketing of the brand
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Technology is an important factor in the growth and adoption of direct
segmentation and behavioural marketing.
Real estate companies and mortgage companies tend to use behaviour response
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target market profile focus on as below –
Demographic: Age, city or region of residence, gender, race, ethnicity, or household composition.
Socioeconomic: Income, educational attainment, occupation, neighbourhood, or association memberships.
Brand affinity/product usage: Product engagement, purchasing history, or level of brand loyalty.
Psychographics: Lifestyles, life stage, personality, attitudes, opinion, or voting behaviour.
Generation: Specific generation cohort group.
Geography: Geographical area in which consumers reside and work.
Geodemographics: Combines geography and demographics, which may cluster into identifiable groups.
Benefits: What consumers are looking for when they shop for products and services.
My answer
Ideal customer-
Laundry activity is a time-consuming task as it involves several activities which need dedicated involvement. Here, we are aim to target such…
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The consumer: describe the target market profile.
Product: iBasket - Guopeng Liang Guopeng Liang
target market profile focus on as below –
Demographic: Age, city or region of residence, gender, race, ethnicity, or household composition.
Socioeconomic: Income, educational attainment, occupation, neighbourhood, or association memberships.
Brand affinity/product usage: Product engagement, purchasing history, or level of brand loyalty.
Psychographics: Lifestyles, life stage, personality, attitudes, opinion, or voting behaviour.
Generation: Specific generation cohort group.
Geography: Geographical area in which consumers reside and work.
Geodemographics: Combines geography and demographics, which may cluster into identifiable groups.
Benefits: What consumers are looking for when they shop for products and services.
I need your answer, please don’t explain how to do. I can google it. but, I’m here for your answer. please answer with examples and clear explanation
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Product: iBasket - Guopeng Liang Guopeng Liang
target market profile focus on as below –
Demographic: Age, city or region of residence, gender, race, ethnicity, or household composition.
Socioeconomic: Income, educational attainment, occupation, neighbourhood, or association memberships.
Brand affinity/product usage: Product engagement, purchasing history, or level of brand loyalty.
Psychographics: Lifestyles, life stage, personality, attitudes, opinion, or voting behaviour.
Generation: Specific generation cohort group.
Geography: Geographical area in which consumers reside and work.
Geodemographics: Combines geography and demographics, which may cluster into identifiable groups.
Benefits: What consumers are looking for when they shop for products and services.
Please explain each catergory with example and elaborate it your point.
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Explain your choices. You are required to use 4 key types of market segmentation provided
Geographic, Demographics, Psychographics, Behaviour
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What is s (sigma) a measure of?
1. Location
2. Spread
3. Stability
4. Mean
5. Mode
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THERE IS NO CASE STUDY OR TASK
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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.
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Describe a consumer profile of your own arts and entertainment consumption preferences utilizing four common
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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
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we have decided to start a new business called ABC headphones. We will be selling a variety of diff head phones.
1 ) What are the customer's needs this product will be able to meet?
2) What can make our product competitive, what is the advantage to selling this type of product?
3) What customers can be targeted by this business, age groups, geographic regions, income level, gender.
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- If a company selling household cleaners identified four market segments namely consumers who want a multi-purpose cleaner; customers who want an anti-bacterial cleaner; customers who wants a stain-removing cleaner and customers who wants a nice-smelling cleaner. Which segmentation base is used by this company? O 1) Geographic segmentation 2) Demographic segmentation 3) Behavioural segmentation 4) Psychographic segmentationarrow_forwardWhat are the diffrent ways to segment a consumer market? Does it makes sense to use more than just a single segmentation variable? Why or why not? What are the key characteristics os a high potential target market? Is the biggest target market always the best? Why or whty not?arrow_forwardExplain " How is the marketing mix (4P+S) for automobiles likely to differ when marketing to each one of the following segments?" a. College students b. CEO's c. Blue collar workers d. Housewivesarrow_forward
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