Question
In: Operations Management
You have been hired as the new marketing manager for a manufacturer of industrial fork lifts....
You have been hired as the new marketing manager for a manufacturer of industrial fork lifts. One of your first tasks is to identify market segments for their products. Thinking about the requirements for effective market segments, what criteria would you use for evaluating the desirability of potential market segments? Identify the criteria, and in a sentence or two explain what each of the criteria means.
Solutions
Expert Solution
- The industrial forklifts have the following market segments:
- Manufacturing units
- Shipping and loading
- Requirements of the forklifts for the above mentioned market segments are:
- Long lasting without significant deterioration.
- Meets customer usage
- Service and spares are important requirements
- Criteria for evaluating the desirability of potential market segments
- Durability- The durability of the industrial forklifts is measured by the product’s ability to exist for a long time without any such significant deterioration.
- Functionality- Functionality is the ability of the product to perform well. Customers in different market segments refer ‘functionality’ as serving their purpose.
- Servicing-The forklifts require regular servicing to ensure that the product does not deteriorate over the period of time.
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