Elucidate the factual notion, that Market penetration is a measure of how much a product or service is being used by customers compared to the total estimated market for that product or service. Therefore, describe market penetration strategies and in the process discuss in details the pros and cons of market penetration.
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- Describe the marketing mix decisions (product, distribution, promotional, pricing) that marketers face. Choose a real-world product or service and apply the marketing mix decisions to it, explaining your choicesHow would you describe a "market niche?" Describe four product/services that you own or consume that you would consider to be "niche" products. Why do you believe this to be true?Discuss the reasons why customer experience is getting more attention in marketing today and how marketers can use information from studying customer experience to make better marketing decisions. Also, what are some ways in which marketers can best study customer experience?
- Assume your company makes shop towels toiletry sets and packages, hand-washing stations, cleaning chemicals and equipment’s and similar products. to conceptualize your answer better, Make a possible list of all the companies B2B that could be potential customers of your firm. Then identify all the markets from which their demand is derived using these answer the question below.What type of segmentation are you going to use to identify these market?, Why?What Characteristics Of B2b Market Are You Looking For Considering The Nature And Type Of Product You Are Selling? What factors might influence the success or failure of your business in these markets? Who are the customers of your possible market / B2b consumer?Any marketing strategy should include improving and maximizing customer loyalty and retention. Give two instances of companies that adopt this technique, as well as two explanations of why this is the case.Suppose you are a marketing executive. How will you redefine selling concept, marketing concept, societal concept and justify your preference among these in case of conducting your business activities.
- Market Segmentation and Your Purchase Habits In this learning activity, we will develop skills related to explaining market segmentation and segmentation variables, and their relevance to marketing. A market segment is a piece of the market. Market segmentation involves aggregating prospective buyers into groups that have common needs and who respond similarly to marketing programs. They are similar in their consumption behaviour, attitudes, and target market profiles. Find an example product category from your life or your purchasing habits that fits into each of these four segmentation categories. Mass marketing strategy: Marketing a product with a broad appeal to the entire market without any product or marketing differentiation This is uncommon and can be seen with utility companies. Segment marketing strategy: Marketing a range of different products and brands to specifically meet the needs of an organization's varied target markets. This is common with large companies such as car…Describe the four characteristics of services that marketers must consider when designing marketing programs. How do the services offered by a doctor differ from those offered by a chemist regarding these characteristics?Think of a specific product or service and then formulate a concrete marketing strategies that can gain valuable feedback and how to improve your product or service that will meet the needs of your target market. Discuss.
- What is the difference between product markets and generic markets? Provide example for each.To conduct a consumer analysis for the product—the good, service, or idea—in your marketing plan: 1 Identify the consumers who are most likely to buy your product—the primary target market—in terms of (a) their demographic characteristics and (b) any other kind of characteristics you believe are important. 2 Describe (a) the main points of difference of your product for this group and (b) what problem they help solve for the consumer in terms of the first stage in the consumer purchase decision process in Figure 4–1. 3 For each of the four outside boxes in Figure 4–4 (marketing mix, psychological, sociocultural, and situational influences), identify the one or two key influences with respect to your product. This consumer analysis will provide the foundation for the marketing mix actions you develop later in your plan.Describe what a car manufacturer should do if he decides to pursue;Production orientationProduct orientationSelling orientationMarketing orientationSocietal marketing orientation