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You are the newly appointed marketing manager for First Choice Bank Limited, a local financial institution that offers a wide range of financial services. Growth of the Bank’s 4C’s branded Credit Card portfolio have been declining for quite some time and recent exploratory research conducted by the company suggests that your 4C’s brand is no longer price competitive. From your study of marketing, you think that a reconsideration of the market segmentation used previously to better understand the target consumer might be the key to this dilemma.
a) What is market segmentation? Describe the basic conditions required for effective segmentation and examples
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- You are the newly appointed marketing manager for First Choice Bank Limited, a local financial institution that offers a wide range of financial services. Growth of the Bank’s 4C’s branded Credit Card portfolio have been declining for quite some time and recent exploratory research conducted by the company suggests that your 4C’s brand is no longer price competitive. From your study of marketing, you think that a reconsideration of the market segmentation used previously to better understand the target consumer might be the key to this dilemma. What pricing strategy or strategies might work best with your suggested segmentation approach to recover this situation and why? Illustrate your argument with examplesYou are the newly appointed marketing manager for First Choice Bank Limited, a local financial institution that offers a wide range offinancial services. Growth of the Bank’s 4C’s branded Credit Card portfolio have been declining for quite some time and recentexploratory research conducted by the company suggests that your 4C’s brand is no longer price competitive. From your study ofmarketing, you think that a reconsideration of the market segmentation used previously to better understand the target consumer mightbe the key to this dilemma. state conclusion and related outcome ( consquences and implication) ?You are the newly appointed marketing manager for First Choice Bank Limited, a local financial institution that offers a wide range offinancial services. Growth of the Bank’s 4C’s branded Credit Card portfolio have been declining for quite some time and recentexploratory research conducted by the company suggests that your 4C’s brand is no longer price competitive. From your study ofmarketing, you think that a reconsideration of the market segmentation used previously to better understand the target consumer mightbe the key to this dilemma. what is the target market ? what is the goal ? what will be your commnication strategy
- You are the newly appointed marketing manager for First Choice Bank Limited, a local financial institution that offers a wide range offinancial services. Growth of the Bank’s 4C’s branded Credit Card portfolio have been declining for quite some time and recentexploratory research conducted by the company suggests that your 4C’s brand is no longer price competitive. From your study ofmarketing, you think that a reconsideration of the market segmentation used previously to better understand the target consumer mightbe the key to this dilemma. Solve the problemYou are the newly appointed marketing manager for First Choice Bank Limited, a local financial institution that offers a wide range offinancial services. Growth of the Bank’s 4C’s branded Credit Card portfolio have been declining for quite some time and recentexploratory research conducted by the company suggests that your 4C’s brand is no longer price competitive. From your study ofmarketing, you think that a reconsideration of the market segmentation used previously to better understand the target consumer mightbe the key to this dilemma. b. From your own investigation of an organization like yours, you discover that many marketers of Credit Cards in thoseorganization sharpen their marketing strategy by adopting a multivariate demographic segmentation (i.e., combining two or moredemographic variables) approach. Using examples, explain why and how such a segmentation approach might be used to informstrategy in attempting to resolve the sales decline Discussions on multivariate…You are the newly appointed marketing manager for First Choice Bank Limited, a local financial institution that offers a wide range offinancial services. Growth of the Bank’s 4C’s branded Credit Card portfolio have been declining for quite some time and recentexploratory research conducted by the company suggests that your 4C’s brand is no longer price competitive. From your study ofmarketing, you think that a reconsideration of the market segmentation used previously to better understand the target consumer mightbe the key to this dilemma. Give five recommendation for this prooblem
- What is your personal unique selling point and the key aspect that differentiates you from others? What role do you think you might excel in within a marketing department? Briefly explain why. Product Manager Pricing Strategist Promotion - Marketing Communications Manager Placement - Distribution Manager Once you adopt one of these roles, you should start to conduct a personal SWOT to assess and adjust your comprehensive skillset. Explain how you will use your strengths while also improving your weaknesses through training and other means.Suppose you are the brand manager for ‘ZING”, an unscented deodorant shampoo aimed at Generation-X members. Sales of your product have been declining. Exploratory research suggests your brand is not price competitive. Outline a research plan that would provide you with the information you need to decide what to do. Explain why you selected certain methods and not other ones.What kind of product is Petnet’s Smart feeder? How should this type ofproduct be marketed? What are customers really buying when they purchase a Petnet Smartfeeder? Identify the core, actual, and augmented product levels for this product.?
- Your management has requested you to suggest different types of food retailers for new retail investment. Based on any THREE (3) different types of food retailers of your choice, evaluate their characteristics in reference to (1) the size of stores, (2) the variety and assortment of the merchandise, and (3) the pricing method.Assume you are involved in a price planning for a manufacturer of backpacks who sells to consumers through various channels of distribution.(a) Describe two market segments that should be charged differently for these items. Explain why different prices would be appropriate.(b) Suggest two types of price-segmentation fences that would make it possible to charge each segment a different price.Marketing Mix choose a product that you have purchased recently. Research and investigate this product on the Internet and in the marketplace. Evaluate the marketing mix (product strategy, pricing strategy, distribution strategy, and promotion strategy) used by the manufacturer of this product. At a minimum, consider the following questions in your investigation: Product Strategy * In what category of consumer products (convenience, shopping, or specialty) does this product fall? Why? * At what stage is this product in the product life cycle (introductory, growth, maturity, decline)? Why? * What role, if any, did branding (brand name, symbol, slogan, etc.) play in your selection of this product? Why? * What role, if any, did packaging play in your selection of this product? Why? * Evaluate the quality of the product in terms of quality level and product consistency.