Learning Activity #1: Marketing Strategies
Maria is in the market for a new car. In the past, Maria’s budget has allowed her to exceed $25,000 for a vehicle. However, there is a recession underway, gasoline prices have risen and while there is nothing definite, Maria is concerned about job security. Maria is looking to buy a smaller car with good gas mileage $25,000 or under. However, comfort on the long commute has her looking toward a bigger car.
- What marketing strategies can the small car companies employ to win Maria over?
- What about the larger car company?
Learning Activity #2: Market Segmentation
Ezra is in the market for a new garden hose that will not split, crack or explode if left out in the winter.
- Identify at least five marketing segmentation characteristics that Ezra could use in developing a profile for consumers.
- Explain the segmentation category that each characteristic falls within (demographic, geographic, behavioral, or psychographic, etc.). When appropriate, be sure to include at least one characteristic from each category.
- How would Ezra use the segmentation information to price this product? Or, would Ezra use another form of analysis (if so what would it be)? Explain in detail.
- Price the new item and explain how the price was determined providing reasoning for the pricing using the course material.