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Marketing Management Questions

Why is the first step (problem recognition) in the consumer purchase decision process, probably the most important?

If you were a healthcare provider who recently acquired the technology to genetically assess people for future diseases, how would you determine to what target market (s) to offer this product or service?

Market segmentation involves aggregating prospective buyers into groups that have two key characteristics. What are they? Why are these important?

What variables might be used to segment these consumer markets? (a) Lawnmowers (b) frozen dinners (c) breakfast cereals and (d) soft drinks.

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Why is the first step (problem recognition) in the consumer purchase decision process, probably the most important?

Problem recognition in the consumer purchase decision process is the most important process because each consumer has different perception between the desired state and the actual condition. The marketer has to try to stimulate the consumer through product information in order to trigger the consumer recognition that they need to buy the marketer's product.

If you were a healthcare provider who recently acquired the technology to genetically assess people for future diseases, how would you determine to what target market (s) to offer this product or service?

As our technology can genetically assess people for future diseases, we must understand to whom would benefit the most. The newly graduate from the college or university is not our target because they just graduated and ...

Solution Summary

This solution is comprised of a detailed explanation to answer why is the first step (problem recognition) in the consumer purchase decision process, probably the most important, how would you determine to what target market (s) to offer this product or service, what are two key characteristics and why they are important, what variables might be used to segment these consumer markets? (a) Lawnmowers (b) frozen dinners (c) breakfast cereals and (d) soft drinks.

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