Possible Essay Questions - Possible Essay Questions 1. What...

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Possible Essay Questions 1. What are the steps in segmenting and targeting markets? a. Separate customers i. Criteria 1. Potential for increase growth 2. Similarity of needs 3. Differences of needs 4. Potential for marketing actions to reach segment 5. Simplicity and cost of marketing actions ii. Ways to separate customers 1. Customer characteristics a. Geographic: region b. Demographic: household size, most households are 2 people c. Psychographic: lifestyle: household (zip code); people with similar lifestyles tend to live in the same area 2. Buying situations a. Benefits sought: product attributes b. Usage/patronage: usage rate; frequency marketing; 80/20 rule iii. Ways to separate organizations 1. Geographic: statistical area 2. Demographic: NAICS code: North American Industrial Classification System code: some organizations have local vs. global clientele 3. Demographic: number of employees 4. Benefits sought: product attributes b. Separate products c. Make market-product grid, then estimate size of markets d. Select target markets i. Criteria 1. Market size 2. Expected market growth 3. Competition 4. Cost of reaching segment 5. Similarities to company objectives/goals e. Take marketing actions 2. Why do some products fail? a.
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This note was uploaded on 02/19/2008 for the course AEM 2400 taught by Professor Mclaughlin,e. during the Fall '07 term at Cornell University (Engineering School).

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Possible Essay Questions - Possible Essay Questions 1. What...

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