GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Pricing
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Place
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Promotion
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Label
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Detailed explanation-1: -Talk to potential customers Get feedback from potential customers. Ask them what they need, what they want, and additional questions like how much they would be willing to pay for such a product. The more you can learn about what their needs are, the better off your product will be.
Detailed explanation-2: -Market segmentation informs your marketing strategy. It is a technique to identify and qualify a market and its opportunity. Segmentation involves dividing a broad target market into subsets of customers, regions, or industries that have, or are perceived to have, common needs, interests, and priorities.
Detailed explanation-3: -You can evaluate the market potential of a segment by looking at the number of potential customers in the segment, their income and the number of people in the segment who need the kind of product you offer.
Detailed explanation-4: -Get Familiar with Demographics. Evaluating the Psychographics. Do Research on Successful Competitor Brands. Analyze your Product to see who will buy from you. Read Industry Blogs and Forums. More items •22-May-2015