Brands compete in markets and markets evolve. Some markets are emerging, while others are growing, maturing or declining. The nature of customers' needs and competitive intensity varies as markets move through their lifecycle. A challenge for marketers is to understand the size and nature of a target market, and to use good judgment to anticipate how that market will evolve going forward. Such knowledge will help marketers make better decisions, which in turn should support favorable marketing performance as measured by marketing margin and ROMI. Please create a thread and in it provide the following in a brief summary: Choose a market for a product or service of interest to you. The market can be business to consumer (B2C) or business to business (B2B). The geographic scope of your market can be limited (e.g., the City of Hartford), expansive (e.g., the world) or somewhere in-between, but you must specify it. Using data from any existing publicly available source(s), describe the market to summarize its size (e.g., revenue or units sold, or both), trajectory, and anything else you find valuable for this brief overview. Use your own judgment (there are no wrong answer) to assign your chosen market to a stage on the Product Life Cycle Curve. Source your data, even if it simply is something like "Bloomberg Business, [date].” Identify and describe a brand competing in the market you've chosen. Use existing data to describe how well (or poorly) this brand is doing in the market. Again, source your data. Note any strengths and/or weaknesses associated with the brand in this market. Using a 3-year planning horizon from today, provide your outlook on: a.) the prospects for the overall market for the product or service, and b.) the prospects for the brand. Use a scale of 1 to 10 for each, where 1 is "strongly negative outlook" and 10 is "strongly positive outlook." Explain the reasoning behind your ratings. Please state your chosen market and brand in the subject line of your post. Thanks
Brands compete in markets and markets evolve. Some markets are emerging, while others are growing, maturing or declining. The nature of customers' needs and competitive intensity varies as markets move through their lifecycle. A challenge for marketers is to understand the size and nature of a target market, and to use good judgment to anticipate how that market will evolve going forward. Such knowledge will help marketers make better decisions, which in turn should support favorable marketing performance as measured by marketing margin and ROMI. Please create a thread and in it provide the following in a brief summary: Choose a market for a product or service of interest to you. The market can be business to consumer (B2C) or business to business (B2B). The geographic scope of your market can be limited (e.g., the City of Hartford), expansive (e.g., the world) or somewhere in-between, but you must specify it. Using data from any existing publicly available source(s), describe the market to summarize its size (e.g., revenue or units sold, or both), trajectory, and anything else you find valuable for this brief overview. Use your own judgment (there are no wrong answer) to assign your chosen market to a stage on the Product Life Cycle Curve. Source your data, even if it simply is something like "Bloomberg Business, [date].” Identify and describe a brand competing in the market you've chosen. Use existing data to describe how well (or poorly) this brand is doing in the market. Again, source your data. Note any strengths and/or weaknesses associated with the brand in this market. Using a 3-year planning horizon from today, provide your outlook on: a.) the prospects for the overall market for the product or service, and b.) the prospects for the brand. Use a scale of 1 to 10 for each, where 1 is "strongly negative outlook" and 10 is "strongly positive outlook." Explain the reasoning behind your ratings. Please state your chosen market and brand in the subject line of your post. Thanks
Chapter8: Business Markets And Buying Behavior
Section: Chapter Questions
Problem 2DYMP
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Brands compete in markets and markets evolve. Some markets are emerging, while others are growing, maturing or declining. The nature of customers' needs and competitive intensity varies as markets move through their lifecycle. A challenge for marketers is to understand the size and nature of a target market, and to use good judgment to anticipate how that market will evolve going forward. Such knowledge will help marketers make better decisions, which in turn should support favorable marketing performance as measured by marketing margin and ROMI. Please create a thread and in it provide the following in a brief summary:
- Choose a market for a product or service of interest to you. The market can be business to consumer (B2C) or business to business (B2B). The geographic scope of your market can be limited (e.g., the City of Hartford), expansive (e.g., the world) or somewhere in-between, but you must specify it. Using data from any existing publicly available source(s), describe the market to summarize its size (e.g., revenue or units sold, or both), trajectory, and anything else you find valuable for this brief overview. Use your own judgment (there are no wrong answer) to assign your chosen market to a stage on the Product Life Cycle Curve. Source your data, even if it simply is something like "Bloomberg Business, [date].”
- Identify and describe a brand competing in the market you've chosen. Use existing data to describe how well (or poorly) this brand is doing in the market. Again, source your data. Note any strengths and/or weaknesses associated with the brand in this market.
- Using a 3-year planning horizon from today, provide your outlook on: a.) the prospects for the overall market for the product or service, and b.) the prospects for the brand. Use a scale of 1 to 10 for each, where 1 is "strongly negative outlook" and 10 is "strongly positive outlook." Explain the reasoning behind your ratings.
Please state your chosen market and brand in the subject line of your post. Thanks!
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