QuestionQ1. Fill in the blanks with correct answerAn offering also consists of a _________, or the amount people pay to receive the offering’s benefits.(Price/Goodwill)_______ is the research that determines how your organisation divides its customers or cohort into smaller groups based on characteristics such as, age, income, personality traits or behaviour.(Targeting/Market Segmentation)_________ marketing usually occurs when a brand has a product or service that has a high market appeal.( Mass/Differentiated)Concentrated marketing is often called ______marketing.(Niche/Conceptual)__________is a place where buyer meets seller.(Car/Market)Q2. What do you mean by Marketing Management? What are the benefits of marketing?Q3. How is Market segmentation different from Targeting markets? Give an example also to differentiate between themQ4. Read the summary and answer the questions below-The quick-service restaurant is a highly competitive market, in which Tim Hortons leads the market in Canada. Tim Hortons has maintained a leadership position in the breakfast daypart and late night snacking market, but has been experiencing less than desirable sales in regards to their lunch time daypart menu, falling second to their key competitor, McDonalds. Tim Hortons has developed a new lunch time product, pre-packaged salads, which is meant to meet the demands of the health conscious psychographics and gain a competitive advantage in the lunchtime market. By doing this, Tim Hortons will lead in each of the four dayparts. In order for Tim Hortons to achieve this goal, small and large pre-packaged salads will be available at all locations across Canada. The in store pre-packaged salads will be located next to the cashier, in a clearly visible refrigerated display unit. Further, in order to continue differentiating from competitors, a lower price-point of $5.99, to coincide with Tim Hortons position will be implemented. In addition to this, to promote this new product, a marketing mix that will be implemented over the next year including, print advertising (Globe and Mail), outdoor advertising (Billboards and Drive-thru screens), viral videos and a national television commercial. This will cost approximately $13M over a one years span. All of the strategies will be implemented throughout the year with a heavy emphasis on the first six months of the launch. Further, the market will be targeted using a market penetration strategy in order to steal customers from McDonalds and further increase market share in the lunch daypart segment. Through analysis of the competition and analyzing the current and potential customers, Tim Hortons can succeed achieve their overall objective to increase market share by 10%.What is Tim Horton’s marketing strategy to be a key player in market of food industry?How by introducing salads, Tims is planning to capture health conscious consumers in the market?Q5. Explain value in MarketingBusinessManagementHuman Resource ManagementBSBA/FM 18
Get a plagiarism-free order today we guarantee confidentiality and a professional paper and we will meet the deadline.