Using the internet, find one company market nicher in each of three different industries. Identify the competitive strategy each one uses.
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Using the internet, find one company market nicher in each of three different industries. Identify the competitive strategy each one uses.
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- What are the benefits of market segmentation? Provide a current example situation.Why does a company need to consider its currentmarketing situation, including competitive trends, whensetting objectives for market share?Critically discuss why it is important that marketers study the business environment within which they operate, including their competitors. Give a company of your choice as an example.
- analyze the attractiveness of each market applying porter's five forces, identyfing key criteria in determining which market to enter and explain why porter's five forces is relevant compared to other frameworks like blue ocean or porter's diamondWoolworth a cloth producing company needs your help in getting a market in your home, Advise on the possible segmentation bases which they can use, support your illustrations with examples and further Describe the market segmentation process which will lead to the success in this business.Watch the following TVC add and explain in details as which market segmentation bases this business is using to identify and serve its target market customers? https://www.youtube.com/watch?v=OP0uJRq4Rc8
- Select three companies competing in the same product or service category. How does each differentiate and position itself, and how do they execute these strategies in their marketing mixes? Which competitor is most successful? Which element(s) of that competitor’s marketing mix has contributed to its success?What are the benefits of mass marketing versus market segmentation for a business. Discuss in relation to examples of product and service providers.How can a company effectively identify and target the most profitable customer segments within a chosen market? What strategies can be used to maximize profitability within these segments?
- What do you understand by a company’s marketing environment? For a company that you are familiar with, identify and describe two trends (each) in its demographic, economic, and technological environments and discuss how these (forces) impact the marketing strategy of that company?Discuss 3 marketing strategies that an entrepreneur can utilize in order to be competitiveWhat are the Indicators of market potential according to Geographic characteristics?