Essay Questions

$12.00

Essay Questions

Name

Institutional Affiliation

Essay Questions

 

  1. Explain 5 ways of how businesses identify their target customers among all market segments. (450w)

A market is large conglomerate of consumers with different needs. It is expensive and impractical for a company to target the entire market, therefore, it is advisable to narrow down to target a segment with needs that aligns most with the features of their products and services (Guillaume & Greir, 2011). There are different ways businesses use to identify their target customers:

  • First, a business should analyse the current customer base or the market in totality. Since the aim of the business is to have higher sales, it should target the segment with potential to increase sales (Blythe, 2009). Look for the common characteristics and interest of the current customer base and select the one which brings more to the business. Although any one can afford to buy the product or service, select the segment that is likely to buy the product more. For example, although anyone can afford to buy a hiking backpack, only hiking enthusiasts are more likely to buy.

A deep analysis of the competitors is another way of selecting the target market. A business does not operate in isolation, but in a very competitive market (Guillaume & Greir, 2011). A good way to identify a target market is to analyse the market most competitors are targeting and go for less competitive market. Targeting the same segment with competitors means the business has to find other way of cutting a competitive edge and this pushes the costs upwards. Select the less competitive segment.

Category:

Description

Essay Questions:
1, Explain 5 ways of how businesses identify their target customers among all
market segments. (450w)

2, Explain 2 factors that impact budget allocation of a company on their
acquirement and retention of customers? (275w)

3, Explain 3 factors that influence a business’s price discounting strategies.
(150w)

 4, How to balance revenue and profits with customer satisfaction? (150w)

5, Explain 3 market strategies that focus on improving customer satisfaction.
(250w)

6, How does customer satisfaction relate to customer loyalty? (150w)

7, Explain why investment in market research is necessary and beneficial to
business decisions and management? (200w)

 8, How does channel conflict impact pricing decisions of a company? (200w)

9, How to minimize channel conflict? (175w)
Format: APA
References: 20
Thank you

Essay Questions

or ORDER A CUSTOM PAPER