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- Required videos to watch:● What is market segmentation and why is it important?● How to do market segmentation?Come up with different customer segments for your startup. You mayuse any (or a combination) of the following types of customer/marketsegmentation best suited for your startup idea:● Demographic● Psychographic & lifestyle● Behavioral● Geographic● FirmographicCreate a description of your family as a market segment using geographic, psychographic, and demographic factors. Suppose that you’ve been hired by a local independent bookstore to help its owner win back customers lost to a large bookstore chain. Design and outline a plan to win back the store’s lost customers and rebuild those relationships. Be sure to incorporate marketing concepts from the course materials. Assume you are the marketing director of a new restaurant that plans to open in six months. Conduct a short nonprobability sample among your acquaintances to determine (a) whether coupons would be a successful promotional tactic to use and (b) in what circumstances coupons would be an inducement for repeat business and when they would not. Report your findings.11 Economic factors have no effect on consumer spending and buying behavior. Select one: a. False. b. True.
- How Satya Nadella run miscrosoft? Provides example that support your viewsclearly typing pls i will give 5 upvotes___________ are generally older and less educated and buy during the _________ stage a. Early adopters; growth b. early majority; maturity c. Innovators; introduction d. Laggards; decline
- 8- A small but profitable market segment which have special needs compared to other segments is called. a. a mass market b. a niche' market c. an undifferentiated market d. a differentiated marketWhich type of income is of particular interest to marketers? Why?5. Increased interest in fitness and healthy food habits is an example of a ....... trend. Select one: O a. C. demographic O b. A. regulatory O c. D. sociocultural O d. B. economic
- Comment if you agree or disagree with this post. 1. What type of variables are used for market segmentation? Benefit variables are used for markets that are segmented by customers seeking benefits that satisfy their needs. Demographic variables seek out characteristics in customers that fit certain descriptions that can include purchasing power and consumption patterns. Also, it can be more specific by gearing toward gender, age, occupation, whether married or single and income. 2. Would a small firm use the same variables as a large business? Why or why not? I would have to say yes. No matter the size of a company, the customer base remains the same. Someone is always shopping for something. Both types of variables are needed to implement forecasting and market strategy. (Longenecker, et al. 2020). Take an antique store, for example. Just because it's a small business, perhaps ran by mom and pop, doesn't mean it has to limit who it sells to. The variables are the parameters and as…That marketers have an obligation to engage in fair competition and build proper customer relationships best relates to which of the following? a. Legal b. Citizenship c. Economic d. Philanthropic e. EthicalWould personal income, disposable income, or discretionary income be the of the greatest interest to marketers?