Need the below answers ((13e edition) Chapter 6: Customer Value Marketing Strategy
Read the chapter and answer the following questions [to facilitate references later on for the purpose of test-taking, make sure you bold or underline key concepts, use bullet points, and note down the page numbers on the textbook for each concept]:
1 List the four steps in designing a customer value marketing strategy and DEFINE the concept of each step.
2 Define geographic segmentation and give a product example to illustrate how to do geographic segmentation.
3 Define demographic segmentation.
4 List the demographic variables used for segmentation and give a product example to illustrate how to use each variable to do segmentation.
5 Define psychographic segmentation and give a product example to illustrate how to do geographic segmentation.
6 Define behavioral segmentation.
7 List the behavioral variables used for segmentation and give a product example to illustrate how to use each variable to do segmentation.
8 Briefly explain how to segment business markets.
9 List and explain the requirements for effective segmentation.
10 Mark out which segmentation variable(s) [can be more than one] each of the following statements deal with and briefly explain your rationale or point out the tell-tale keywords. [ I start a discussion thread on Canvas on this exercise and feel free to discuss them there with your classmates. On the test you will be given a statement like these and asked to categorize it. ]
a) A tour company offers eco tours to people who are outdoorsy and adventurous.
b) A romance-comedy film tries to reach the young crowd.
c) Rolls-Royce marketed a dragon-edition car to the Chinese in 2012, the dragon year.
d) A marketer gives 20% discount to its loyal customers.
e) A chocolate company sells milk chocolate, dark chocolate and white chocolate products.
f) Apple products are quite expensive and are popular among creative people.
11 Think of a department store you like, visit its website, research garment/clothes departments and report how it uses the various segmentation variables to do segmentation:
Geographic
Demographic
Age
Gender
Income
Psychographic
Behavioral
Occasion
Benefits sought
Loyalty status
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