Explain the four major steps in designing a customer-driven marketing strategy
What will be an ideal response?
The first step is market segmentation: dividing a market into smaller groups of buyers with distinct needs, characteristics, or behaviors, who might require separate products or marketing mixes. The company identifies different ways to segment the market and develops profiles of the resulting market segments.
The second step is market targeting: evaluating each market segment's attractiveness and selecting one or more of the market segments to enter.
The third step is differentiation: actually differentiating the firm's market offering to create a superior customer value.
Finally, the last step is market positioning: arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of consumers.
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Jessie owns a deferred fixed annuity in which the contractually guaranteed rate is 3%. The contract also has a standard current rate interest provision. If current rates are 5%, what rate of interest will be credited to Jessie's annuity?
A) 0.05 B) 0.03 C) 0.08 D) 0.04
The owner of a condominium unit learns that a neighbor has failed to pay his real estate taxes. If this neighbor does not pay the taxes
A) a lien can be filed against the condominium, including all of the units. B) a lien can be filed against the neighbor's unit and his percentage of the common elements. C) a lien can be filed only against the common areas of the condominium. D) the taxing authority can order the condominium to be dissolved.