Asked by Bianca Galvez-Azanon on May 06, 2024
Verified
Kelvin Electronics is known for high-end and expensive electronics targeted to prestigious consumers. Last fall, Kelvin Electronics introduced a mid-priced line of audio products because it knew this would have great potential to appeal to a large consumer market. Kelvin assumed consumers would be pleased to have this more affordable option and decided not to market it separately but to let sales grow from existing customers. It was surprised when sales were minimal and ultimately, the company dropped the lower-priced products. When evaluating segment attractiveness, what aspect did Kelvin fail to consider?
A) repetitive
B) identifiable
C) reachable
D) substantial
E) reactive
Segment Attractiveness
An assessment of the potential profitability and success of a specific market segment, based on factors like size, growth, competition, and alignment with the company's capabilities.
Mid-priced
Products or services categorized between the high and low ends of the price spectrum, designed to offer a balance between affordability and quality.
Audio Products
Devices or equipment designed for the purpose of producing, recording, or reproducing sound.
- Acquire knowledge on the basic principles of market reach and the elements that impact it.
- Appreciate the significance of customer responsiveness to marketing efforts.
Verified Answer
Learning Objectives
- Acquire knowledge on the basic principles of market reach and the elements that impact it.
- Appreciate the significance of customer responsiveness to marketing efforts.
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