1. There are 5 key steps in segmenting a market. A) Name each step in the proper order and B) explain why each step is necessary. C)
Explain why just one (choose one explicitly for your explanation) of these marketing research steps could be very critical in the findings of
the entire marketing research performed. D) Create a “buy-sell” box starting with the end-user price through retailer, distributor and
manufacturing. Choose your own mark-up values.
2. What consumer needs (benefits) are met by the following new products or services? When answering this question, first remember the 5
universal benefits. Then provide distinctive benefits. In some cases there can be more than just one benefit for the prospective buyer. I only
want one plausible benefit for each.But be specific. a) High fiber crackers for serving with appetizers to mature house guests, b) inexpensive,
reversible [black to brown] dress socks for men, c) adjustable heat output solar panels for water pipes. d) Variable depth, width and length
baggage for travel, e) automobiles that can serve as emergency energy source for homes. E) Adjustable ceiling heights for rooms.
3. Consider an unfavorable experience you have had with a particular service (hair salon, doctor’s office visit, tax accountant, financial
advisor, etc.). a) What advice would you provide for tweaking the service process and training of the personnel to improve the experience for
future customers? You will recall my experience with MRI or veterinary services,OR an unfavorable personal experience. In this challenge, I
wish you to refer to a new process that you would recommend in performing the process AND suggest how training (people) would be used to improve
the overall service experience. Please explain the existing poor service so I can understand your response.
4. A market segmentation exercise performed by the Al’s Boot Division of a leather goods manufacturing team found that the young people’s
“western boots” market could generally be broken down into these groups: a) male and female, b) exotic and calf skin, d) low or high heeled
soles, and e) YOU NAME ANOTHER CRITERIA. How many different segments are there? List them all. YOUR answer will depend upon your choice.
5. Market research tells us that the best end-user price for your new product’s introduction (a component for electric cars) is $39.99.
Firm policy dictates a minimum 50% gross margin. The distributor requires a 25% margin and the retailer (Auto Zone) needs a minimum 100% mark-up
on the sales price? Create a Sell-Buy Box. Include your math.
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