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What is the difference between qualifying dimensions and determining

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What is the difference between qualifying dimensions and determining dimensions? Explain why segmentation efforts based on attempts to divide the mass market using a few demographic dimensions may be very disappointing. 300 words.

How might a firm’s resources limit its search for opportunities? Cite two specific examples for two specific resources. 300 words.
Submitted: 2 years ago.
Category: Homework
Expert:  Chris12 replied 2 years ago.

Chris12 :

What day and time is the assignment due? Is it APA? How many references are required? Is there additional information to complete the assignment?

Customer:

Assignment is due by tuesday. APA is not required, but a referenced is needed for each of the essays and no sir there is not any more information needed to complete this question. Thanks!

Customer:

Sir are you still gonna provide an answer?

Chris12 :

No, my apologies. Not by you're deadline. If you need help again I may be of assistance.

Chris12 :

Actually, what is the deadline tonight? I should have asked that before stating I was unable to complete the assignment.

Customer:

Tomorrow around 5pm

Chris12 :

What is the difference between qualifying dimensions and determining dimensions? Explain why segmentation efforts based on attempts to divide the mass market using a few demographic dimensions may be very disappointing.


In the world of marketing the number one commodity is customers. There are billions of people who live on Earth and each one has a different desire. Some customers are looking for the latest in electronics while others are searching for the hottest fashions. The adequate use of advertising will draw in large numbers of customers which in turn create massive profits. Some companies can make multiplied millions of dollars by grabbing the right target market. In the process of accumulating customers marketers may incorporate segmentation. Segmentation is the distinguishing of characteristics associated with customers. The characteristics or demographics include age, sex, race, location, occupation, socio-economic status and education.


The largest upcoming population would be the aging baby boomers. Snagging the majority of this market would be profitable but only with certain products such as denture cream and orthopedic shoes. There are other demographic levels outside this segment that could generate profits but are inaccessible. In the category of segmentation there are two sections: qualifying dimensions and determining dimensions. Qualifying dimensions relate specifically to the type of customer that prefers a certain product. Certain core features are mandatory for the customers to desire to purchase the product. These features can include products that don't test on animals or use all nature ingredients. Determining dimensions directly affect the customer's purchase of certain products or brands in the product-market. This type of dimension may create narrow segments. Each identify sections can be governed by a different set of dimensions.


 


MHHE.com. (2009). Segmenting dimensions (qualifying dimensions and determining


dimensions). Retrieved from


http://www.mhhe.com/business/marketing/Perreault17e/marketing_coach/LA/88.htm



How might a firm’s resources limit its search for opportunities? Cite two specific examples for two specific resources.


In corporate world businesses need to find an edge in order to survive. This niche is even more important now that the economy has suffered from a recession, not only in the United States but also around the world. Companies rely on resources to help penetrate and either conquer or occupy certain markets. The analysis of these resources usually results in a SWOT analysis. This is a strategic planning technique that is described as strengths, weaknesses, opportunities and threats. Strengths help determine the advantages that a company has over other companies in the market. These advantages can come from the internal workings of the company and also from the company's customer base within the market. Weaknesses represent the vulnerable spots within the organization that could cost money, time and employees. These are areas that should either be improved or avoided if possible. Opportunities represent openings within the current market or additional markets where the company can earn additional funds by accumulating more customers. Threats represent external elements that could damage the cash flow and interfere with the growth in customers (Mind Tools Ltd. 2012).


The firm can also use two different types of interfaces: the firm-strategy interface and the environment-strategy interface. The firm-strategy interface deals with three components: goals/values, resources/capabilities and structure and systems. Goals/values isolate what's important to the firm and how it will accomplish those imperatives. Resources/capabilities are a comparison of the resources ability to bring the firm closer to or farther from its objective. Structure and systems describes the inner workings of the firm and how each division works together to achieve or hinder the accomplishment of the goal. The second interface is environment which is composed of competitors, customers and suppliers. These individuals form a chain that is vitally important to the survival of any firm and its plan to gain additional opportunities. Customer purchases the products and produces the revenue. If the original company can't maintained the products desired by the customers they will seek out other firms known as competitors? Suppliers are the individuals that stock the firms with the products needed for customer purchase (Blackwellpublishing.com 2007).


 


Blackwellpublishing.com. (2007 January 13). Analyzing Resources and Capabilities. Retrieved


from http://www.blackwellpublishing.com/grant/files/CSAC05.pdf


 


Mind Tools Ltd. (2012). SWOT Analysis Discover New Opportunities Mange and Eliminate


Threats. Retrieved from http://www.mindtools.com/pages/article/newTMC_05.htm

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