1. How does organization gather and apply customer input to its new product or service development efforts? Is this process effective? Why or why not? How might it be improved?
2. Given that absolute market potential almost always exceeds actual industry sales, why do marketers bother to make potential estimates? Discuss 4 decisions that a marketer of industrial grinding machinery might make based on such potential estimates. Please provide example and detail explanation.
3. What is the relationship among market segmentation, target marketing, and positioning? What will happen to a company’s target marketing and positioning efforts if markets are incorrectly or not effectively/insightfully segmented? Give an example with detail explanation.
4. Can market segmentation be taken too far? Why or why not? What strategy might a company pursue if it believes that its market has been broken into too many small segments? Please give an example with detail explanation.
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