Question

In: Economics

Companies use demographic information to target specific groups of people to create a more meaningful piece...

Companies use demographic information to target specific groups of people to create a more meaningful piece of the market in which they can supply. In business, making this decision to target some while not targeting others can be difficult since expansion could be limited based on that specific groups’ dynamics.

  1. Select a characteristic that business use to segment the population and explain how that can benefit the company’s sales.
  2. Explain how targeting one group is not considered discrimination and how companies can avoid getting in trouble from making such a selection.
  3. Lastly, how does the market segmentation create or increase customer loyalty within the market.

Solutions

Expert Solution

​​​​​​

Rahul Sunny answered 3 weeks ago
Next > < Previous

Related Solutions

If it needs more information be specific. JavaScript Functions Create the makeBranches() function that will be...
If it needs more information be specific. JavaScript Functions Create the makeBranches() function that will be used to append node branches to the node tree diagram. The function will have two parameters named treeNode and nestedList. The treeNode parameter stores the current node from the source article and the nestedList parameter stores the structure of the node tree displayed in the web page. Add the commands described in the steps below. Each time the makeBranches() function is called, it is...
Research Meaningful Use and the requirements for this national IT initiative. Create goals and a training...
Research Meaningful Use and the requirements for this national IT initiative. Create goals and a training plan and schedule for a Meaningful Use compliance training program for a large multi-physician clinic. Create the training outline to include main topics and appropriate subtopics.
Market segmentation means that offers are tailored to specific target groups. The firm runs into fairness...
Market segmentation means that offers are tailored to specific target groups. The firm runs into fairness issues if differences in perceived value among offers are minimal compared to price differences. In versioning, the firm makes a high-quality product, version A, and sets a high price for one market segment. The firm also degrades this product to produce version B. It offers version B for a lower price to a different segment of customers. Is there an ethical issue here? For...
Design a set of classes that keeps track of demographic information about a set of people,...
Design a set of classes that keeps track of demographic information about a set of people, such as age, nationality, occupation, income, and so on. Design each class to focus on a particular aspect of data collection. Assume the input data is coming from a text file. Create a main driver class to instantiate several of the classes.
List all possible Stakeholder groups (be specific in identifying each group) for these companies
List all possible Stakeholder groups (be specific in identifying each group) for these companiesAMAZON and WALMARTBriefly compare their business models. Considering that they are direct competitors (in many products), how are their models similar and how are they different?How does the difference in business models affect stakeholder groups (if at all)?
Explain Meaningful Use in EHR in Healthcare information technology (300 words).
Explain Meaningful Use in EHR in Healthcare information technology (300 words).
Discuss how in meaningful use criteria tie back to goals for the healthcare system, giving specific...
Discuss how in meaningful use criteria tie back to goals for the healthcare system, giving specific examples. In 1-2 pages.
Discuss how in meaningful use criteria tie back to goals for the healthcare system, giving specific...
Discuss how in meaningful use criteria tie back to goals for the healthcare system, giving specific examples. In 1-2 pages in simple terms.
Identify the market segmentation method that you will use within your target country; geographic, demographic, psychographic,...
Identify the market segmentation method that you will use within your target country; geographic, demographic, psychographic, etc. b.   Identify the criteria for targeting specific customers and explain your target market strategy c.   Define your product positioning within the country and why it will be most effective.
“Compared with people at low-trust companies, people at high-trust companies report: 74% less stress, 106% more...
“Compared with people at low-trust companies, people at high-trust companies report: 74% less stress, 106% more energy at work, 50% higher productivity, 13% fewer sick days, 76% more engagement, 29% more satisfaction with their lives, 40% less burnout.” Task: Respond to the following questions in 1 page Assume you have been appointed the new managing director (MD) of a manufacturing plant in Mexico. The company is expected to transition from a unionized to a non-unionized employee relation. Highlight 3 strategies...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT