Asked by Nikie Blackford on Feb 18, 2024
Verified
Rory and Katie manufactured a smartphone-related product marketed for personal safety.Unsure about the best market segment to target,they developed a product for older adults and the general public but they decided to also market it for children.Which of the following is the most likely cause for failure here?
A) inattention
B) deviance
C) lack of ability
D) uncertainty
A) inattention
B) deviance
C) lack of ability
D) uncertainty
Inattention
When an entrepreneur becomes sidetracked from the core business.
- Ineffective marketing strategy: The decision to target both older adults and children may result in a lack of focus in their marketing efforts. They may struggle to create a compelling message that resonates with both segments, leading to confusion and a failure to attract customers.
- Insufficient resources: Rory and Katie may not have allocated enough resources, such as budget and manpower, to effectively target and reach their intended market segments. This could result in a lack of visibility and awareness for their product, leading to failure in generating sufficient sales.
- Lack of market research: Rory and Katie may not have conducted thorough market research to understand the needs and preferences of their target audience. This could lead to a failure in identifying the right market segment and positioning their product effectively.
Verified Answer
MW
Mackenzie Weible
Feb 18, 2024
Final Answer :
D
Explanation :
The most likely cause for failure is uncertainty. By targeting multiple market segments that have different needs and interests, Rory and Katie may struggle to effectively communicate the value of their product to each group. This could lead to confusion and uncertainty among potential customers, ultimately impacting sales and overall success.
Learning Objectives
- Ineffective marketing strategy: The decision to target both older adults and children may result in a lack of focus in their marketing efforts. They may struggle to create a compelling message that resonates with both segments, leading to confusion and a failure to attract customers.
- Insufficient resources: Rory and Katie may not have allocated enough resources, such as budget and manpower, to effectively target and reach their intended market segments. This could result in a lack of visibility and awareness for their product, leading to failure in generating sufficient sales.
- Lack of market research: Rory and Katie may not have conducted thorough market research to understand the needs and preferences of their target audience. This could lead to a failure in identifying the right market segment and positioning their product effectively.