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In: Operations Management

Assume that you have been appointed as Marketing Manager for a company in your region. In...

Assume that you have been appointed as Marketing Manager for a company in your region. In the past, many of their new products were unsuccessful. The senior management team now wants to focus on proper idea generation for their new products and also wants to select profitable market segments correctly.

i) How would you select profitable market segment(s) for this company? Justify your answer.

ii) Discuss your strategies on how to generate proper ideas for this company’s new products.

Solutions

Expert Solution

Please note: company name, past product details or segments are not mentioned in the question.So without the back ground and financial capacity of the company below question answered.

i) How would you select profitable market segment(s) for this company? Justify your answer.

Selecting profitable market segment is not an easy task multiple factors are involved.

A company can select the profitable market segments considering their past experience. Once the company choose the target customer, area and other external factors. Then the product can be selected using multiple analysis methods, one of the best is SWOT analysis.

keosha answered 2 years ago
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