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Explain How Slower Population Growth Will Affect Business In Your Local Community

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Chapter 3. Question 14. Discuss how slower population growth will affect business in your local community.
The less people there are the more competition a business leader faces as there could be less demand for their product. With fewer customers there is a chance that a business could reach its maximum growth and cannot expand. There is a chance that the business could go out of business because there is not enough revenue to cover the cost of operations because of fewer customers.
Chapter 4. Question 2. Explain what market segmentation is.
A marketer must finds the needs of the customers find a find a generic market and a broad market and narrow this down and then select either a single target market, multiple target markets or a combined target market and find out where they can make a profit depending on what market they select to meet the customers’ needs. …show more content…

Question 7. Identify the determining dimension or dimensions that explain why you bought the specific brand that you did in your most recent purchase of, a. soft drink, b. shampoo, c. shirt or blouse and (d) larger, more expensive item, such as a bicycle, camera, or boat. Try to express the determining dimension(s) in terms of your own personal characteristics rather than the product’s characteristics. Estimate what share of the market would probably be motivated by the same determining dimension(s).
a. soft drink - Taste 80%, costs 10%, ease of use 5%, calories 3%, easy to locate 2%.
b. shampoo – Performance 70%, brand15%, costs10%, easy to locate 5%.
c. shirt or blouse – Style 75%, brand10%, costs 10%, easy to locate 5%.
d. bicycle – Quality 75%, Performance 20%, brand 5%.
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