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Discuss the four major sets of variables that might be used in segmenting the consumer market.
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- Identify the categories of variables used by Umpqua Bank to segment the business and consumer markets. What additional variables might help the bank define suitable segments for marketing attention?Identify and describe four major categories of variablesthat can be used to segment consumer markets. Giveexamples of product markets that are segmented byvariables in each category.Discuss the concepts of market segmentation and product positioning, and explain how they are related. What are the variables that can be used to segment markets? Also, how many variables should typically be used to segment markets efficiently? Justify your answer.
- Describe the concept of predictive analytics in CRM. How can predictive analytics be leveraged to anticipate customer behavior and improve marketing and sales strategies?To carry out their analysis, planning, implementation, and control responsibilities, marketing managers need a marketing information system (MIS) to assess information needs, develop the needed information, and distribute it in a timely manner. Assume that you are a Marketing Manager of Khaddi and your company wants you to deploy an efficient Marketing information system. Explain how all the components of the Marketing Information system will help Khaadi in collecting information and forecasting demand?Explain the concept of CRM analytics and its role in optimizing marketing campaigns and customer service operations.
- Define three continuous random variables that a marketing vice president should regularly examine.Name and describe the four major sets of variables that might be used in segmenting consumer markets. Which segmenting variable(s) do you think Bata is using?Describe the use of analytics in CRM for customer behavior prediction and trend analysis. How can businesses make data-driven decisions using CRM analytics?