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 watch today. List several dimensions and try to develop a shorthand name, like “fashion-oriented,” to describe your own personal market segment. Then try to estimate what proportion of the total watch market would be in your market segment. Next, explain if there are any offerings that come close to meeting the needs of your market. If not, what sort of a marketing mix is needed? Would it be economically attractive for anyone to try to satisfy your market segment? Why or why not?
In Exhibit 4-8
In Exhibit 4-8
In Exhibit 4-9
Answer to relevant QuestionsIdentify the determining dimension or dimensions that explain why you bought the specific brand you did in your most recent purchase of a (a) soft drink, (b) shampoo, (c) shirt or blouse, and (d) larger, more expensive item, ...Illustrate how the reference group concept may apply in practice by explaining how you personally are influenced by some reference group for some product. What are the implications of such behavior for marketing managers? Cut out or photocopy two recent advertisements: one full page color ad from a magazine and one large display ad from a newspaper. In each case, indicate which needs the ads are appealing to. Would a tool manufacturer need a different marketing strategy for a big retail chain like Home Depot than for a single hardware store run by its owner? Discuss your answer. If a nonprofit hospital were planning to buy expensive MRI scanning equipment (to detect tumors), who might be involved in the buying center? Explain your answer and describe the types of influence that different people ...
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