How Do Online Consumers Differ from the General Population? What

question 26

Essay

How do online consumers differ from the general population? What three characteristics of online consumers make them an attractive market?

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Definitions:

Four Actions Grid

A strategic tool used in the Blue Ocean Strategy framework that helps businesses to determine new opportunities by asking four questions: What to eliminate, reduce, raise, and create.

Blue Ocean Strategy

A business theory that suggests companies are better off searching for ways to gain "uncontested market space" rather than competing with similar companies.

Marketing Failures

Situations where marketing strategies do not achieve their objectives, often leading to wasted resources, lost sales, or negative brand perception.

Strategic Marketing Process

A methodical approach that involves analyzing market opportunities, selecting target markets, developing marketing strategies, and managing marketing efforts.