Only typed answer and please don't use chatgpt The 1-Page Marketing Plan recommends targeting a niche market. This strategy is justified because:Marketers have limited amounts of money.Because trying to be all things to all peoplemarketing failure.Being too broad you reduce your 'specialness' and become a commodity bought on price..Niching makes price irrelevant.All answers are correct#

There are generally two types of markets for companies- mass marketing and niche marketing.…

Answered: 1-Page Marketing Plan recommends…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Sally is interested in fashion and wants to set up a shop. Her fashion items could have wide appeal as they are based on a growing trend. Explain to Sally how she could focus her shop by considering the concepts of targeting and positioning. (300 words)
The consumer: describe the target market profile. Product : iBasket - Guopeng Liang Guopeng Liang target market profile focus on as below - Ideal customer Consumer demographics-the demographics should focus on profession, income level, age. Requirements Targeting activities please provide explanation and examples
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The consumer: describe the target market profile. Product: iBasket - Guopeng Liang Guopeng Liang target market profile focus on as below – Demographic: Age, city or region of residence, gender, race, ethnicity, or household composition. Socioeconomic: Income, educational attainment, occupation, neighbourhood, or association memberships. Brand affinity/product usage: Product engagement, purchasing history, or level of brand loyalty. Psychographics: Lifestyles, life stage, personality, attitudes, opinion, or voting behaviour. Generation: Specific generation cohort group. Geography: Geographical area in which consumers reside and work. Geodemographics: Combines geography and demographics, which may cluster into identifiable groups. Benefits: What consumers are looking for when they shop for products and services. Please explain each catergory with example and elaborate it your point.
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Sally Morrison, the head of marketing for Lightbox (De Beers' synthetic stone brand), said the brand's products were meant to be viewed by consumers as playful accessories. "Everyone who is in this space is focusing their marketing on the bridal category." Ms. Morrison said. "And we believe they are missing an incredibly interesting opportunity: the self-purchasing professional and younger woman, the older woman who already has a jewelry collection," and any woman "who doesn't want the weight and seriousness of a real diamond for everyday life." "Though man-made stones account for only about 2 percent of the diamond industry's supply, analysts at Citibank have forecast a possible rise to 10 percent by 2030." Based on this quote in the article, how would you categorize Lightbox in De Beers' portfolio planning? O. Dogs O. Stars O. Question Mark O. Cash Cow O. Red Light
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