Lila has just launched her own bakery business. Her goal is to sell her baked goods at farmers’ markets, coffee
shops, and farm stands in a 30-kilometre radius of her house.
– Select your Answer –
-to assess the degree to which her products match the needs of potential customers
-to determine whether her new business will encounter competition
-to estimate how large her company would need to be to make a profit
-to identify how many different types of people would be attracted to her products
What is Lila’s market segment profile likely to indicate about the businesses she intends to market her products to?
– Select your Answer –
-Their customers live in rural rather than suburban or urban areas.
-They serve customers who do not have the time to bake or cook for themselves.
-They will want discounts or other benefits because of the risk they will take in dealing with a newcomer.
-They will want to purchase small or moderate quantities of her products fairly often.
How can Lila can distinguish herself from large producers of baked goods in her market segment?
– Select your Answer –
-By attracting customers who purchase baked goods on impulse
-By emphasizing the freshness and home-baked appearance of her products
-By selling baked goods at a lower price
-By supporting business customers in developing marketing campaigns
What is one question that Lila’s market segment profile should answer?
– Select your Answer –
-how long she must be in business before she can begin to make a profit
-what kinds of competition she will be facing
-whether she can afford to expand her production facilities if her business is a success
-whether the customers of the three kinds of business she targets share the same demographic characteristics
Scott Yates tested the idea behind his new online content company by getting businesses to sign up for the service before the site was even working. What did this provide the company evidence of?
– Select your Answer –
-breakdown approach
-buildup approach
-company sales potential
-market potential
An independent video store located in a neighborhood strip mall has been in operation for 10 years. For the last three years, sales have been stable with only slight increases each year. What has this store most likely reached?
– Select your Answer –
-its maximum breakdown approach
-its maximum buildup approach
-its maximum market potential
-its maximum sales potential
A beauty salon offering specialized services catering to women with high incomes was considering raising their prices. The owners took into account stock market forecasts, the unemployment rate for their area, and other economic factors to determine the effect higher prices might have on sales. What were the owners using to make this pricing decision?
– Select your Answer –
-a breakdown approach
-a buildup approach
-market potential
-sales potential
A retail seller of John Deere tractors was looking to expand into Central Canada. The owner first estimated the number of farms in that area, then determined how many farms were independently owned, and also considered sales of farm equipment in all of Central Canada to determine the number of potential buyers. What is this an example of?
– Select your Answer –
-buildup approach
-sales potential
-market potential
-breakdown approach