Explain how new opportunities may be seen by defining a firm’s markets more precisely. Illustrate for a situation where you feel there is an opportunity—namely, an unsatisfied market segment—even if it is not very large.
Answer to relevant QuestionsIn your own words, explain why the book suggests that you should think of marketing strategy planning as a narrowing-down process. Distinguish clearly between mass marketing and target marketing. Use an example. Discuss the impact of changes in the size and use of technology in the 18–29 age group on marketing strategy planning in the United States. The owner of a small hardware stores—the only one in a medium-sized town in the mountains—has just learned that a large home improvement chain plans to open a new store nearby. How difficult will it be for the owner to ...Review the types of segmenting dimensions listed in Exhibits 4-8 and 4-9, and select the ones you think should be combined to fully explain the market segment you personally would be in if you were planning to buy a new ...
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