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Exam 4: Targeting

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Question 1

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How do marketers estimate the size of a market? Explain.

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Market sizing isn't difficult.Good demog...

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Opportunities and threats are usually driven by changes in one of the 5Cs.

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How do marketers choose segments to target?

What is the method for trying to objectively assess one's own corporate strengths?

Which calculation is the most accurate way to estimate the size of a market?

In conducting a SWOT analysis, marketers are likely to collect some market research data on customers, such as perceptual maps and information about brands and products.

Some customer segments are high maintenance and not worth serving.

If a market doesn't look so great, but a firm is awesome at creating products for it, the key question is whether the firm can

Marketers try to serve the segments whose needs match their __________, and in doing so hope to make very happy and loyal customers who will be very profitable.

Regardless of whether a marketer is working B2B or B2C, the logic in market sizing estimation is always the same-start with the price of the product and multiply it by the size of the target market.

Threats are

Top-down and bottom-up perspectives are available to assess the attractiveness of each segment in terms of its potential for targeting, but only the top-down perspective should be considered.

SWOTs are useful in clarifying __________ marketing questions.

Bob thinks that a new RV business in his area would not face much local competition.How does he size the market? Include formulas in your answer.

If a market looks attractive, but a firm is not particularly skilled in the market, a key question is whether the firm can develop sufficient

The Census.gov website cross-classifies businesses by sector and size.

Tyson wants to sell his services as a fitness and nutrition consultant.When he is estimating profitability, what factor does he need to consider that a business selling goods does not need to consider?

Corporate strengths should be assessed relative to a firm's competitors in order to understand customers and their

Final probability estimates require information such as industry knowledge or data that may be obtained from

Two important strategic criteria for targeting segments include the firm's strengths and the attractiveness of the segment.