The Markstrat World is a territory of 250 million inhabitants whose monetary unit is the Markstrat Dollar. The World has 5 competing firms each with its own range of products. The products fall into two distinct categories of consumer durables - Sonites and Vodites. The Sonite Market:
The Buffs: This consumer group is enthusiastic and generally very knowledgeable regarding new and available brands. Their greatest interests lie in the quality and technical features of the brands they purchase. These interests should be addressed when producing new brands and modifying existing brands targeted at this segment. The Buffs start of as the largest are Sonite segment, but are declining in numbers. However, as the Innovators, they still remain important to the success of the Sonite products.
The Singles: This consumer group lives alone and appears to be less technically knowledgeable than the Buffs. They are primarily interested in the performance of the brands they purchase. This interest should be a priority when producing new brands and modifying existing brands targeted at this segment. This segment is one of the fastest growing segments in the Sonite market. It is very important to the success of the low-end to mid-end Sonite products.
The Professionals: This consumer group is highly educated and receives elevated incomes in their occupations. They are independent with regards to these occupations, and are very involved in social activities. They are primarily interested in the performance and convenience of the brands they purchase, but the social status of a brand is their greatest motivator to purchase. This group sees a decline in numbers in upcoming periods. However, they are very important to the success of the high-end Sonite products.
The High-Earners: This consumer group also receives elevated incomes, but they are less educated and retain lower levels of occupational independence than the Professionals. They are most...
Please join StudyMode to read the full document