TRIDENT MKT301 ALL MODULES DISCUSSIONS
Marketing calls for businesses to understand who buys what, so let's take a moment to consider market segmentation, the most basic concept involved in any discussion of marketing strategy and market structure. Market segmentation recognizes that in most product categories, buyers differ in
- whether they buy,
- what they want most,
- where and when they buy,
- what information they want and how they want to receive it, and
- what they’re willing to pay.
As a result, it is usually possible to break the population of potential buyers down into groups and to cater to the needs of those groups rather than choosing what we call “mass marketing” in which it is assumed that potential buyers are all alike in their needs and wants.
For some examples of market segmentation, check out a short piece by Neil Kokemuller in the Houston Chronicle: http://smallbusiness.chron.com/examples-market-segmentation-14403.html
Of course, simply recognizing, e.g., that urban and rural shoe buyers might differ in some of these respects may not be enough basis for designing a strategy for a shoe company.
Consider the material in a study guidedevoted to this subject: http://www.segmentationstudyguide.com/understanding-market-segmentation/criteria-for-effective-market-segmentation/
Based on these two references,
Which one or two segmentation variables do you believe would be most appropriately used in designing the strategy for marketing a line of automobile tires?
Explain.
module 2
A brand name might suggest something about the product's benefits and qualities. It should also be easy to pronounce, recognize, and remember and be capable of registration and legal protection.
Provide examples of good and poor branding. Explain these selections. (Google “good and poor brand names” for help on these questions and be sure to cite the sources you use.)
How does distribution influence your opinion of the brand, positive or negative? Give examples.
module 3
Have you ever heard of the term DISINTERMEDIATION?
This means to flatten an organization – removing one or more links in the distribution chain. In recent years, the internet has been a source of disintermediation as products traditionally sold through physical retail outlets can now be distributed directly from the manufacturer directly to the consumer - eliminating the MIDDLE MAN. By eliminating the middle man the price of the product can be reduced.
Identify a product now offered directly over the internet that used to be available only through a separate retailer. (Indicate the website where you found this product.)
(Be careful with this question as internet retailers - e.g., Amazon - and websites sponsored by traditional retailers - e.g., macys.com - do not constitute disintermediation, but only replace or complement traditional physical outlets.)
Explain the advantages and disadvantages associated with internet distribution for this product.
module 4
Choose a product and discuss the promotional strategy for this product.
What do you think are its objectives?
Which of the elements identified above are included? (Cite some examples from internet sources – print media and sponsor’s websites, YouTube, or articles in the trade or business press.)
In your judgment, is the strategy effective or not based on the objectives that you identified? Explain.
module 5
Choose a product and explain the pricing strategy for this product.
What do you think are its objectives?
What barriers to purchase, including, but not limited to its cost, do you expect its potential customers to experience?
In your judgment, is the strategy effective or not based on the objectives that you identified? Explain. What other approaches would you recommend in setting a pricing strategy for this product?
Be sure to cite your sources of information in addressing these questions.
module 6
Provide a few examples that prompt these criticisms?
Are there any good examples of marketing having delivered consumer and/or social value that you can name?
Be sure to cite your sources of information in addressing these questions.
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Solution: TRIDENT MKT301 ALL MODULES DISCUSSIONS