Sometimes marketers will develop strategies to target multiple social class segments with the same product by offering it at different prices. Give two examples of products or brands that use this strategy, and how do they accomplish it? Are there any potential risks to taking this approach with specific products or brands, and what might make some products or brands more susceptible to these kinds of risks?
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Sometimes marketers will develop strategies to target multiple social class segments with the same product by offering it at different prices. Give two examples of products or brands that use this strategy, and how do they accomplish it? Are there any potential risks to taking this approach with specific products or brands, and what might make some products or brands more susceptible to these kinds of risks?
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- Critical Thinking Sometimes marketers will develop strategies to target multiple social class segments with the same product by offering it at different prices. What are some examples of products or brands that use this strategy and how do they accomplish it? Are there any potential risks to taking this approach with specific products or brands and what might make some products or brands more susceptible to these kinds of risks?Describe the current competitive market for your product. Can you identify the number of brands or the market share that they hold? Expand your analysis to include other products that are similar or could be substituted for yours.Marketers must understand the current and potential environment in which the product or service will be marketed. Explain why?
- What are the potential risks if the marketing mix is not considered?How do you respond to fraudulent marketing practices that you have personally or to others? Are fraudulent marketing practices based on price, promotion, product or packaging? Briefly describe one such incident in detail.Consumers can be vulnerable. They may easily believe and be manupilated when marketers have their important and personal information. Marketers may choose groups of consumers who are easier to target and "get" them to spend on unnecessary items. What do you think about this issue? What can marketers do to overcome this dilemma? to generate profits for the company, and at the same time, bring real values and protect the consumers?
- Marketers must understand the current and potential environment in which the Product or service will be marketed. Explain situation analysisPlease tell me how marketers screen ideas to find appropriate product ideas during product development. What does it mean that a product is a good “fit” for a company?Instructions Suppose you want to promote a line of costume jewelry to upper-middle class teenaged girls. What factors, you think, would influence the buying behavior of your target market? How each of these factors will affect their buying patterns?
- What rights do consumers have and why do some critics of marketing feel buyers need more protection?You are the newly appointed brand manager of Grooming Brand, an unscented deodorant shampoo targeting Generation X. Sales of this brand have been declining for some time, and recent exploratory research shows that your brand is no longer price competitive. From the marketing information system reports, you think that re- evaluating the market segmentation previously used to better understand the target consumer may be the key to this problem. From your own research on organizations similar to yours, you've noticed that many deodorant marketers at these organizations set their marketing strategies by adopting a multivariate demographic segmentation (i.e.combining two or more demographic variables) approach. Using examples, explain why and how the market segmentation approach can be used in an attempt to solve the sales decline.Brands compete in markets and markets evolve. Some markets are emerging, while others are growing, maturing or declining. The nature of customers' needs and competitive intensity varies as markets move through their lifecycle. A challenge for marketers is to understand the size and nature of a target market, and to use good judgment to anticipate how that market will evolve going forward. Such knowledge will help marketers make better decisions, which in turn should support favorable marketing performance as measured by marketing margin and ROMI. Please create a thread and in it provide the following in a brief summary: Choose a market for a product or service of interest to you. The market can be business to consumer (B2C) or business to business (B2B). The geographic scope of your market can be limited (e.g., the City of Hartford), expansive (e.g., the world) or somewhere in-between, but you must specify it. Using data from any existing publicly available source(s), describe the…