01 Nov Strategic Marketing
12248Market Segmentation/MIS/Market Research
Before beginning work on this week’s discussion forum, please review the link “Doing Discussion Questions Right,” the expanded grading rubric for the forum, and any specific instructions for this week’s topic.
Select any one of the following starter bullet point sections. Review the important themes within the sub questions of each bullet point. The sub questions are designed to get you thinking about some of the important issues. Your response should provide a succinct synthesis of the key themes in a way that articulates a clear point, position, or conclusion supported by research. Select a different bullet point section than what your classmates have already posted so that we can engage several discussions on relevant topics. If all of the bullet points have been addressed, then you may begin to reuse the bullet points with the expectation that varied responses continue.
Many people have participated in a market research survey at some time in their lives. With reference to any survey that you actively participated in, discuss the questions that follow. If you have not experienced a market research survey, take a survey on the Internet:
Evaluate how effective the survey was in measuring how you felt about a product.
Explain whether you feel your response in the survey helped improve or will improve the product being marketed.
Describe how you might have gathered information differently so that the survey was more effective.
Explain why it is important for marketers to monitor current trends in marketing. How does a marketing information system identify and measure trends? How would you design a marketing information system for a product of your choice?
When Henry Ford marketed the Model T a hundred years ago, he stated customers could have any color they wanted as long as it was black. We have come a long way since then. The types and variety of cars have exploded, and now cars are available in a multitude of colors.
Identify the different segments of the automobile market.
Discuss the types of people who buy minivans, pickup trucks, sports cars, SUVs, compact cars, and luxury cars. What are the benefits for the auto companies to segment the market? Give reasons for your answer.
Determine if it is possible for a company to attract customers from one market segment into another market segment and still earn a profit. Explain why.
Martin Lindstrom wrote a book called Buyology describing how marketers use state-of-the-art medical devices to measure how brain activity changes and is stimulated by advertising. The goal is to understand how advertising directly impacts brain activity in order for marketers to develop more effective advertisements, which (theoretically) no one will be able to resist.
Assess each of these strategies and provide an example for each category.
Out of the four strategies, choose a strategy that best suits growth in a company of your choice and justify how you would use this strategy.
Respond to your peers throughout the week. Justify your answers with examples, research, and reasoning. Your initial posting should be the equivalent of 1.5 single-spaced pages (700 to 800 words) in length.
Be sure to cite your sources using APA format.
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