MicroBionics manufactures digital hearing aids, which unlike analog hearing aids, can be programmed to mask out external noise. The company has determined that its competitive advantage lies in its product, while its weakness is the associated manufacturing costs. Target market opportunities exist within the maturing baby boomer segment. One challenge lies in the existence of a competing, well-established brand called BelTone. In terms of the market segmentation process, MicroBionics has completed which step?
A) Development of product positioning strategy.
B) Delineation of firm's current position.
C) Division of market on relevant segmentation variables.
D) Design of marketing mix strategy.

Question

Quizplus · Accepted Answer

Delineate the firm's current situation: A firm must do a complete situational analysis when embarking on a new or modified marketing program. At the marketing planning level, such an analysis aids in determining objectives, opportunities, and constraints to be considered when selecting target markets and developing marketing mixes.

MicroBionics Manufactures Digital Hearing Aids, Which Unlike Analog Hearing Aids