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Segmentation

Which one of the market segmentation criteria is most difficult to identify and measure?

Can you please explain the relationship between marketplace diversity and demographics?

What are the steps to developing new products and revising established products?

What product attributes should be considered when introducing a product or service into a global marketplace?

Solution Preview

The question wants you to answer some specific questions about market segmentation, marketplace diversity, new product development and introducing products into international marketplace. These questions may be in response to some specific notes given to you in your classroom in which case you should always include the 'standard answer', and then you may follow the template given below to help you write an excellent answer.
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<br>There are several assumptions, which the problem makes; first, the problem assumes that there are one-market segmentation criteria, which is difficult to measure. This is not supported by evidence, different criteria may be difficult to measure in different circumstances, for example demographics in a cosmopolitan mega city may be difficult to measure, but it is the easiest to measure in a rural village. Second the there is an assumption in the question that the greater the differences in the demographics the greater the marketplace diversity. However, the evidence shows that other factors like behavioral factors may be responsible for greater diversity. Third, the questions presupposes that there are fixed steps to developing new products. However, ...

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