ABC is a company that sells furniture across eight different states in the US and is known
Question:
ABC is a company that sells furniture across eight different states in the US and is known to be trendy, upscale and different. It also happens to have a section in every store that is more traditional with heavy and antique ornaments. They offer a competitive advantage through their designated marketing mix as they focus on meeting consumer requirements through satisfying image benefits, durability, reliability, performance and convenience. Therefore, the company takes several decisions when it comes to scanning the environment and for choosing the proper segment to target.
a) After scanning the environment for trends, issues and events, the company responded by delaying some of these trends. One of these trends includes being environmentally friendly and making creative models of furniture from older and unusual objects. The management is confused between the three delay methods and are not planning to delay cutting cost. Explain the three different delay methods/strategies and explain which one method would suit ABC and why?
b) When ABC decided to choose their target market and segment consumers based on consumer variables. They focused on all four variables: Demographics, Geo- graphics, Psychographics and Behaviouristic. Provide an example on each of these variables explaining how they might have used these variables to reach their different segments.
Statistics The Art and Science of Learning from Data
ISBN: 978-0321755940
3rd edition
Authors: Alan Agresti, Christine A. Franklin