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Determine the three categories of companies that would have the most difficulty competing in the online marketplace.
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- How can a company effectively identify and target the most profitable customer segments within a chosen market? What strategies can be used to maximize profitability within these segments?What are the forces that have been identified by Michael Porter that determine the intrinsic long-run attractiveness of a market or market segment?Research the concept of unrealistic customer relationships and describe scenarios which outline these unrealistic customer relationships.
- What criteria should a lawn equipment company use in assessing the attractiveness of market segments?How do marketers identify the Most Valuable Customers and understand their Needs?Identify a product or service you want to market, and choose a market targeting strategy you think is best to apply on your chosen product/service.
- Choose a fast-food restaurant chain that does business in your area. Describe the company's target market and explain how its marketing mix is designed to appeal to this target market. Explain how they segment the market to match their product/serviceExplain how marketers increase long-term success and profits by practicing customer relationship management.What role does customer segmentation play in the development of a successful business model?
- Identify and explain the criteria when evaluating a market segment.Identify and analyze specific marketing strategies used by companies. Develop criteria by which you would assess the effectiveness of these strategies, taking into account their alignment with business goals.Why do companies use market segmentation, market targeting, differentiation, and positioning in implementing an effective marketing strategy?