MARKETING 2018
19th Edition
ISBN: 9780357033753
Author: Pride
Publisher: CENGAGE L
expand_more
expand_more
format_list_bulleted
Question
Chapter 6, Problem 7DRQ
Summary Introduction
To find: The four main category of variables to segment the consumer market and examples of product market that are segmented by this category.
Market Segmentation:
Classifying market into various smaller sections is based on the buyer’s different requirements, wants, and behaviors and it is called market segmentation. This would help to reach the buyers with various marketing strategies and or product mixes. Marketing segmentation is classified into “geographic, psychographic, demographic, and behavioral variables”. Marketing strategy of the company is implemented on the various market segmentation
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Discuss the four major sets of variables that might be used in segmenting the consumer market.
Discuss the concepts of market segmentation and product positioning, and explain how they are related. What are the variables that can be used to segment markets? Also, how many variables should typically be used to segment markets efficiently? Justify your answer.
Define the concept of customer insights and the role itplays in market planning decisions.
Chapter 6 Solutions
MARKETING 2018
Ch. 6.1 - Located in the picturesque Berkshire Mountains of...Ch. 6.1 - Located in the picturesque Berkshire Mountains of...Ch. 6.1 - Located in the picturesque Berkshire Mountains of...Ch. 6.2 - Prob. 1CCh. 6.2 - Prob. 2CCh. 6.2 - Prob. 3CCh. 6 - Prob. 1DRQCh. 6 - Prob. 2DRQCh. 6 - Prob. 3DRQCh. 6 - Prob. 4DRQ
Ch. 6 - Prob. 5DRQCh. 6 - Prob. 6DRQCh. 6 - Prob. 7DRQCh. 6 - Prob. 8DRQCh. 6 - Prob. 9DRQCh. 6 - Prob. 10DRQCh. 6 - Prob. 11DRQCh. 6 - Prob. 12DRQCh. 6 - Prob. 13DRQCh. 6 - Prob. 14DRQCh. 6 - Prob. 15DRQCh. 6 - Prob. 16DRQCh. 6 - Under what conditions might a firm use multiple...Ch. 6 - Prob. 1SCCh. 6 - Prob. 2SCCh. 6 - Prob. 3SCCh. 6 - Prob. 4SC
Knowledge Booster
Similar questions
- In selecting the business level strategy, explain why it is important to consider the following dimensions: The Customer Needs and Wants Socioeconomic segmentation Perpetual factor segments The Industrial and Commercial Consumers: End user Segments Products Segments Customer Size Segmentsarrow_forwardAs a marketing manager in your company, you were asked to develop a marketing plan for a service that your company would like to bring to market. You can choose to adopt an existing company from a particular industry, or you can choose to create a new one. You are required to prepare the following: To assess marketing opportunities by analysing customers, competitors, and their own company (3Cs), To develop the segmenting, targeting and positioning (STP), and To design effective marketing programs by devising appropriate recommendations for pricing, promotion, place, and services products (4 Ps).arrow_forwardAt least one segmentation variable is common in business markets but not relevant to consumer markets. Briefly define this variable and give an example of how it might be applied.arrow_forward
- Identify the categories of variables used by Umpqua Bank to segment the business and consumer markets. What additional variables might help the bank define suitable segments for marketing attention?arrow_forwardWhat role does market segmentation play in conducting a more targeted and effective competitive analysis?arrow_forwardFor the following products, indicate what factor(s) you would use to estimate market potential? Yoplait yogurt Rolex watches Apple iPads Tylenol Mary Kay cosmeticsarrow_forward
- Market Segmentation for Keurig coffee machine. Include geographic, demographic, psychographic, and behavioralarrow_forwardDemonstrate in your report how to formulate a set of marketing tools to pursue its marketing objectives in the target market.arrow_forwardOutline a marketing research process to be used to gather information on present or potential customers.arrow_forward
- There are factors that determine which areas of market research should be prioritised in purchasing and supply. Explain any three factors and give relevant examples in relation to Tiger Brands.arrow_forwardDefinition of a market Charateristicarrow_forwardThe George Foreman Grill is a compact cooking appliance with a double- sided cooking surface that is angled to allow fat to drip off the food and out of the grill. Describe a likely target market for this product in terms of its geographic, demographic and behavioural characteristics. How does this target market in your opinion rate with respect to size growth and structural attractiveness? Write a positioning statement for the George Foreman Grill.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios