Knowing that the types of consumers vary widely in terms of income between those living in the largest cities in a country and those who live in smaller cities, a company adopts a 'dual-market' strategy. This means that: They will establish and use different brands depending on the size of city they operate in. They will ignore the larger cities and focus solely on the smaller cities. They will adapt their marketing mix differently for these two market 'tiers'. They will ignore the smaller cities and focus solely on the larger cities. They will acquire a smaller firm to cater to consumers in the smaller cities while they cater to consumers in the larger cities.
Added by Michael S.
Close
Step 1
This means that they need to adapt their marketing strategy to cater to these different segments. Option 1: They will establish and use different brands depending on the size of city they operate in. This option could work if the company has the resources to Show more…
Show all steps
Your feedback will help us improve your experience
Bryan Kim and 50 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
Match the different stages of the consumer buying process with the related scenarios where advertising helps with the stage. Choices: 1. Search for information 2. Comparative evaluation 3. Choice and purchase 4. Post-purchase evaluation Stages: 1. Ali reaches an area where there are many restaurants, and one has ads displayed in their parking lots. 2. Ali thinks about the last time he ate at a particular restaurant. It was a bad experience, and he had decided he would try a different restaurant next time. 3. Ali goes into a restaurant and checks out the different dishes available on the menu and orders his food. 4. Ali sees an ad showing that a restaurant near his house serves the kind of tacos he likes.
Brooke B.
1 (1) Demonstrate understanding of the consumer decision-making process model and its implications for marketing decisions. (2) Discuss the internal influences on the consumer as an individual, and their impact on purchasing and consumption behaviour. (3) Discuss the external influences on the consumer in their social context, and their impact on purchasing and consumption behaviour. (4) Evaluate the principal theories of consumer behaviour and critically assess strengths, limitations and applications.
Manasvee S.
Which of the following correctly defines the consumer market? A. Manufacturers, resellers, and consumers B. Consumers and the resellers who consumers buy their products from C. Consumers who spend more than $5000.00 yearly on goods and services D. Individuals and households that buy goods and services for personal consumption E. Consumers and the businesses that sell to them
Jennifer S.
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Watch the video solution with this free unlock.
EMAIL
PASSWORD