Amanda's team is analyzing target markets for the company's new product idea. Her group is currently considering the different factors it should adopt to divide the market. A major part of this decision involves the customers' needs for, uses of, or behavior toward the product. At which stage of the target market selection process are Amanda and her team currently?
A. Step 1: Identify the appropriate targeting strategy
B. Step 2: Determine which segmentation variables to use
C. Step 3: Develop market segment profiles
D. Step 4: Evaluate relevant market segments
E. Step 5: Select specific target markets
Answer: B
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At a price of $2,000, the demand for Ranger 60 mountain bikes from Cloyd's Inc. is 300, but only 191 bikes are being made. At a price of $2,300, the demand for the bikes is 250, and exactly 250 bikes are being made
If Cloyd'ssells each one of the bikes at a price lower than $2,300, _____. a. a shortage of bikes will be created b. the number of bikes being made will increase drastically c. an inelastic demand for the bikes will be created d. the demand and supply for the bike will attain equilibrium
Tangible stock-out costs include ______.
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A large sporting goods store is placing an order for bicycles with its supplier. Four models can be ordered: the adult Open Trail, the adult Cityscape, the girl's Sea Sprite, and the boy's Trail Blazer. It is assumed that every bike ordered will be sold, and their profits, respectively, are 30, 25, 22, and 20. The LP model should maximize profit. The store needs to worry about several conditions. One of these is space to hold the inventory. An adult's bike needs two feet, but a child's bike needs only one foot. The store has 500 feet of space. There are 1200 hours of assembly time available. The child's bikes need 4 hours of assembly time, the Open Trail needs 5 hours, and the Cityscape needs 6 hours. The store would like to place an order for at least 275 bikes.