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Why did competitors of successful mass marketers turn to market segmentation?
building an operation to parallel that of an entrenched industry giant was not profitable or realistic. As a result, most of them gravitated to the more attractive market-segmentation approach
What are the three questions marketing executives consider when choosing a marketing channel and intermediaries?
1. Which will provide the best coverage of the target market? 2. Which will best satisfy buying requirements of the target market? 3. Which will be most profitable?
What is the most profitable business on earth?
SmileClouds Machine
The three psychographic dimensions most commonly used in market segmentation are?
"Marketers sometimes uses psychographic variables, such as personality characteristics, motives, and lifestyles, to segment markets." -Pride & Ferrell: Foundations of Marketing 5th Ed., Pg. 129
What is the difference between market targeting and target marketing?
Difference between Target Marketing and Market TargetingThe concept of target marketing is the refinement of the basic philosophy of marketing. It is an attempt by companies to relate the characteristics or attributes of the goods and services they provide more closely to customer requirements. Target market is defined as “A set of buyers sharing common needs or characteristics that the company decide to serve.” When mass production techniques were first introduced, out of necessity they imposed a large degree of uniformity upon customers. However such techniques also brought improvement in most people’s standard of living. Many products that were considered luxuries of the rich became available to the ordinary people at affordable price. But he consumers wanted a particular type of product with specific characteristics that suited their requirements more accurately.By targeting to specific groups of consumers or ‘market segments’, instead of attempting to serve the demand requirements of an entire population for a particular product category, the firm is able to develop more effective marketing programs.The process of target marketing needs to be carried out systematically and scientifically to be effective. The process of target marketing has three distinct stages:1- Market Segmentation2- Market Targeting3- Market PositioningMarket Targeting: - Market targeting is not to be confused with the overall process of target marketing. Market targeting is the process whereby one or more of the market segments previously identified are evaluated and selected. The market targeting is defined as “The process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.” Market segmentation is only the first essential step in the overall process of target marketing. The firm also has to evaluate each segment and decide how many of the segment to serve. We need not only an indication of the size of the segment, but also estimates of likely turnover and profit and an indication of where the segment is going.For example, the overall demand for cigarettes in the U.K. is declining, whereas the demand for ‘low –tar’ cigarettes is on the increase as consumers switches to less harmful form of smoking. Tobacco companies also exploiting the low-tar segment of the market in reaction to consumers’ change in taste and in order to retain their share of the cigarette market.
Advertising for diversified business?
You will need to do an individual SWOT for each segment market and then figure the financial backbone you will need to grow the channels you find need the most growth in or are the most profitable. From there media planning and ad creation for each segmented channel will need to be made.
At the most profitable level of production a firms marginal cost will be the market price?
equal to
What song was the most profitable for the band Audioslave?
"Like a Stone" is one of their greatest songs of all time and has propelled them to stardom. The most profitable is hard to determine. "Be Yourself" is another contender.
What was the main idea behind economist Adam smiths book The Wealth of nations?
market economy is most profitable
How can I invest in commodity market and make huge profit?
The commodity market is the major and most profitable part of the Indian market and the second one is the stock market. They both help to increase investors' money with the help of trading. Before entering the commodity market, you have to good knowledge about the commodity market, it will help you to understand the market and its strategy. For huge profit from the market you can get commodity market expert analyst tips. Analyst tips based on deep research about the market , they deeply analyze the market, then they provide the profitable tips.
Should you invest in gold?
Yes. Gold is one of the most profitable commodities in the world market and investors world wide are investing in it
The most profitable cash crop in south carolina and georgia was?
Rice was the most profitable cash crop.
Who is the most profitable company?
RIL is the most profitable compnay in india 2011...
What was the South's most profitable crop?
The most profitable crop in the south was Cotton .
Which is the most profitable crop in cityville?
The most profitable crop for now is corn.
In which country is farming more profitable?
Greenland is the most profitable
Why did competitors of successful mass marketers turn to market segmentation?
building an operation to parallel that of an entrenched industry giant was not profitable or realistic. As a result, most of them gravitated to the more attractive market-segmentation approach
