1. What is the nature of the market segment(s) served by AtlanticRider.com? To which VALS group(s) would the typical AtlanticRider.com member be assigned? Based on the services offered on its site, how well does AtlanticRider.com serve its market segment(s)?
The nature of the market segments served by AtlanticRider.com is horse enthusiasts and riders based out of Atlantic Canada. With regards to the VALS system, the typical AtlanticRider.com member would be assigned as Makers, who are defined as action-oriented and tend to focus their energy on self-sufficiency. Often found working on their cars, canning their own vegetables, or building their own houses. (Solomon, …show more content…
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3. There are five types of risk. Assume Rick is a 55-year-old teacher who has just moved to New Brunswick for his health. He is considering taking up horseback riding for the first time. He goes to AtlanticRider.com for information. Although not normally an impulsive man, he decides to buy a horse and equipment and begin riding lessons. Describe the types of risk that apply to Rick’s situation.
The first type of risk that Rick would be subject to is the monetary risk of his purchases. To buy a horse, equipment and riding lessons would be very costly, and is very impulsive of him. He’s making these purchases under the assumption he will enjoy riding and pursues it, however, due to his lack of his experience, it is possible he tries riding and doesn’t like it. If that’s the case, he will be stuck with the horse and equipment he has purchased and will have to deal with trying to sell them and reduce his losses on the costs to mitigate the functional risk he has set himself up for. Functional risk is mitigated by the buyer committing themselves to the product but if Rick has no intention of continuing his riding he will he will have to find some alternative solutions for his purchases.
Horse riding, while it appears easy, can be a very dangerous activity to undertake. As a