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Quantifiable characteristics or qualities or a specific group of people. Examples include age, race, gender and marital status
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Every marketer prefers to study the population characteristics to understand the required products among them and hence produce the goods accordingly.
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- Market research is a __________forecasting method:a) Naïve approach b) Jury of executive opinionc) Qualitative d) Quantitativee) Moving averageSnowy Mountains, a snowboard manufacturer in Japan, makes customized snowboards for snowboarding enthusiasts. The demand for snowboards peaks during the winter months. The company advertises more aggressively and sells most of their snowboards around this time. Which market segmentation approach does Snowy Mountains use? A) gender segmentation B) psychographic segmentation C) occasion segmentation D) geographic segmentation E) age and life-cycle segmentationWhat is big data, and what opportunities and challenges does it provide for marketers? Explain how internal databases differ from marketing intelligence. What are some advantages and disadvantages of both? What is behavioral targeting? Provide an example of behavioral targeting. How are firms responding to consumers and public advocates that it is a form of stalking consumers? Marketers make heavy use of both open-ended and closed-ended questions in questionnaires. What are some of the benefits or drawbacks of using each of these ways to ask questions? The marketing research process has several very distinct and important stages that need to be followed. In your opinion, which is the most important? Justify your view on this.
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- VinceShoe is a company who sells leather shoes. If you are the owner of VinceShoe, how will you segment your market according to the different type of segmentation? 1. Demographic Segmentation 2. Pshychographic Segmentation 3. Geographic Segmentation 4. Behavioral SegmentationAnswer the following question stated in a paragraph. “An error they are making with market segmentation” *article is listed below Product Case Study Sam and Micaela first met while studying marketing at San Juan College. Both were ambitious and had plans to run their own businesses. Over time they decided to start a business together. Initially they spent many months discussing what sort of business they should go into. They considered various service businesses, like consulting or an internet- based training offering. However, it was eventually an opportunity in the children’s toy market that appeared to have good potential. They had observed that parents were becoming increasingly time-poor and, as a result, had less time to spend with their children. And in order to compensate for this, the parents typically spent large amounts on their children to entertain them. Obvious examples were the success of PlayStations, iPads, PC’s, and mobile phones. Sam argued, “these are big ticket…Some market researchers tout the benefits of “soft” market research data gathered using techniques such as focus groups and observation. Others argue the benefits of using “hard” data such as statistics on consumers’ buying habits and figures on market size. When might each kind of data be preferred? Explain.
- Each of us is biased to some degree. Marketers can bias research findings based on how survey questions are structured and worded. Answer the following two questions: As a marketer, how do you eliminate that bias? Why would eliminating bias be important to your research? Write two biased research questions and then rewrite them so that they are unbiased. Include both the biased and unbiased versions of both questions in your submission.Subject: principle of Marketing The third resource that marketers use to assist in their decision-making, besides Marketing Research and Marketing Intelligence is Internal Records ( record system) Please provide clear informationHow do you compare Walmart and Amazon to determine the insights gathered from the trend analysis? https://www.marketwatch.com/investing/stock/wmt/financials/balance-sheet https://www.wsj.com/market-data/quotes/AMZN/financials/annual/balance-sheet