Question: Recall back in Case 1 . 2 that Nick Thomas, CEO of Auto Concepts, a new division of a large automobile manufacturer, has been slowly
Recall back in Case that Nick Thomas, CEO of Auto Concepts, a new division of a large automobile manufacturer, has been slowly losing market share to other competitors. Auto Concepts was created to reclaim the manufacturer's highly competitive level in the auto industry by developing new models that are more competitive in today's new car market.Auto Concepts now has five different models that are feasible in terms of engineering and production. Nick has assigned tentative model names to them "Super Cycle," oneseat all electric, mpge rating ; estimated MSRP manufacturers suggested retail price $; range miles "Runabout Sport," twoseat all electric, mpge ; estimated MSRP $; range miles "Runabout Hatchback," twoseat gasoline hybrid, mpge ; runs on battery for miles and then switches to gas engine; estimated MSRP $; range miles "Economy Hybrid," fourseat diesel hybrid, mpge ; runs on battery for miles and then switches to efficient diesel engine; estimated MSRP $; range miles "Economy Standard," fiveseat economy standard gasoline, mpg ; runs on gasoline with computer control for maximum efficiency; estimated MSRP $; range miles.Environmental Protection Agency's measure of efficiency when alternative fuels eg electricity are used It allows for a comparison of new energy propulsion with the fuel efficiency.Nick knows no single model will have universal appeal to a huge market. Rather, different models will appeal to market segments, and Auto Concepts will be sharing those segments with other able competitors that are working just as hard to develop car models that satisfy consumer needs in those segments. In other words, Auto Concepts wants to reach target markets for the models it produces without wasting promotional dollars on those who aren't interested in the model. For example, if the company decides to produce a particular model, a decision must be made in terms of choosing among media types TV radio, magazine, newspaper, social media in which to promote the product.Nick would like to know each market segment's media habits. Which TV show types do most people in each market prefer? Radio genres? Magazine types? Sections of local newspapers? Also, the marketing department has moved to spending large sums of the budget on online promotions.Nick wants to know which market segments he can reach through blogs, content communities such as YouTube, social network sites such as Facebook, and online games and virtual worlds.Knowing that consumers like a pastioular madium is natugh. Torovemple, Nick may learn that the
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