Question:
a) The consumer electronics firm for which you work is about to launch a new model of mobile telephone (cell phone and hand phone). This will be a very basic model offered at a price lower than that charged by competitor firms.
i. Explain four benefits of undertaking market segmentation in this situation.
ii. Identify and describe the characteristics of a segment that you think would be profitable for this firm to target, using
a. Behavioural segmentation
b. Demographic segmentation
c. Psychographic segmentation.
iii. Elaborate on the elements of marketing mix that will help your product to be successfully accepted over the market.
b) Write notes on the following market coverage strategies:
i. Undifferentiated marketing
ii. Differentiated marketing
iii. Concentrated marketing
c) Successful marketing depends largely on a company's ability to manage its marketing programs within its environment.
i. What do you understand by ‘environmental scanning'?
ii. Briefly explain how the macro environmental forces play an important role in assessing the attractiveness of a market.