milings Review View Help Tell me what you want to do Refer to the scenario below to answer the following questions. Caren Lauren began in 1979 as an upscale dress shop in Forest Ridge’s fashionable shopping district, catering to a wealthy, mature clientele. Many other specialty shops lined the main avenue over the next few years. But as Forest Ridge began to attract an affluent, younger, and more demographically diverse population, the once-popular shopping district was increasingly perceived as stodgy and snobby. By the late 1980s, many of these specialty shops suffered financially. Most shops attracted only tourists who enjoyed browsing through the displays of alligator belts and shoes, piles of scented soaps, and useless flowered parasols, often laughing at the ridiculously high prices. Owners of The Caren Lauren had noticed the shifts in population and buying behavior of the typical shopper by the late 1980s. In fact, the owners had observed that the once-fashionable shopping district in Forest Ridge no longer attracted a “typical shopper.” The wealthy, mature clientele had been partially replaced with affluent families with children, a mix of Asian and African Americans as well as Caucasians. Specialty items at The Caren Lauren gradually disappeared, replaced by brand-name apparel, colognes, and jewelry. Other owners followed suit in the early 1990s, bringing restaurants, an outdoor cafe, and a day spa to the main avenue in Forest Ridge. 1. Explain how needs, wants and demands interplayed to make Caren Lauren business succeed. (20 pts). 2. In your opinion, which marketing management orientation (concept) best applies to the business that Caren Lauren started. Explain the concept and apply it to the case. (15 pts). 3. Explain the term customer lifetime value and analyze the types of consumers that Caren Lauren was able to capture value from them in return. (15 pts). 4. Analyze how competitors (as a microenvironment factor) reacted to the business that Caren Laure started. (15 pts). 5. Which marketing intermediaries were used by Caren Lauren? Explain the role of each and relate them to the case. (20 pts). 6. Assess the role of technology as a macroenvironment factor in the growth of the business that Caren Lauren started. (15 pts). Bi
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