What are the tactics that competitors use to pursue customers?
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- "What key strategies can a business adopt to effectively differentiate itself from competitors 09 and maximize market share in its business proposal?Respond to the following in a minimum of 175 words: How can a company’s marketing organization ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors? Provide an example.Answer the questions seperately. Provide only the answer to the question. 1. What are the market segments? 2. How would you plan on choosing your target markets and why?
- “Market Segmentation: Still the Bedrock of Commercial Success” (Source: https://www.marketingjournal.org/market-segmentation-still-the-bedrock-of-commercial-success-malcolm-mcdonald/) In light of the phenomenal advancements in marketing technology, it is important to dispel some of the popular myths surrounding market segmentation and explain why needs-based segmentation is still the main route to commercial success. The most common objective of modern commercial organizations is the sustainable creation of shareholder value. This can be achieved only by providing shareholders with a total return, from capital growth and dividend yield, that exceeds their risk-adjusted required rate of return for this particular investment. In today’s highly competitive environment, the major sources of shareholder value creation are the intangible marketing assets of the business, such as brands, customer relationships and channels of distribution, the 70% of the company’s value that does not…5. Identify and analyze specific marketing strategies used by companies. Develop criteria by which you would assess the effectiveness of these strategies, taking into account their alignment with business goals.Ethics Some critics of marketing have suggested that market segmentation and target marketing lead to an unnecessary proliferation of product choices that wastes valuable resources. These critics sug- gest that if marketers didn't create so many differ- ent product choices, there would be more resources to feed the hungry and house the homeless and provide for the needs of people around the globe. Are the results of segmentation and target market- ing harmful or beneficial to society as a whole? Should firms be concerned about these criticisms? Why or why not?
- Ethics Some critics of marketing have suggested thatmarket segmentation and target marketing leadto an unnecessary proliferation of product choicesthat wastes valuable resources. These critics suggest that if marketers didn't create so many different product choices. there would be more resources 10 feed the hungry and house the homeless andprovide for the needs of people around the globe.Are the results of segmentation and target marketing harmful or beneficial to society as a whole?Should firms be concerned about these criticisms?Why or why not?Do you believe that marketing technology such as Big Data and Predictive Analytics would have been effective 10-15 years ago? What is the reason for this?In 500 words or more Why is it possible for two competitors in the same industry to segment a market differently? Do McDonald's and Burger King pursue the same target market? 1. What are the key differences between the customers McDonald's has identified as possible targets? 2. What are the pros and cons of targeting each group? 3. Does it make more sense to think about targeting the retailers (e.g. Target, Walmart, Gas Station, etc.) or individual consumers? Explain your answer.
- Keep the following in mind: Do you think that marketing technologies like Big Data and Predictive Analytics would have been successful if they had been available to businesses 15 years ago? Does this make sense?Questions: Marketing is marketing whether it concerns the consumer market or industrial market. Do you agree or disagree with this statement? Why? The term industrial marketing, business marketing, and business to business are often used to describe marketing in the industrial market. Which of these three terms do you believe best describes marketing to organizational customers? Explain your reasoning.How can a company increase its market share, and what strategies are commonly employed to achieve this goal?"