MKT203 Exam 2 Assignment: Market Segmentation Result
MKT203 Exam 2 (Essay section) - Maximum 175 points (17.5 points x 10 questions)
Submit your answers by 11:59 PM, Wednesday, May 20 thru Turnitin on the Blackboard.
ANSWER OVERLAPPING. Note that your score cannot be higher than 90% of possible maximum if 30% of your writing overlaps with that of any other classmate and any other source; 85% for 40% overlapping; 80% for 50% or more. So, (1) make sure that you don't copy any other student's answers or any other source and vice versa. (2) In addition, to minimize the content overlapping, do not include the questions as part of your answers.
Late submission will get 17.5 points off each 24-hour period.
If you use other sources to answer the questions, report them (1) inside the text and (2) in the References, using the AMA style (see the syllabus for details). If you fail to do so, you will lose points.
Each answer cannot have more than 700 words.
MKT203 Exam 2
Name
Institution
Date
1] Market Segmentation Result
Segment CharacteristicsDemographicFor those who can save time the reported scores are 5, 4,4,5,1. there is a need for more information on their income levels and how this affects their buying choicesGeographicThere are also those who have options to visit others stores in the area indicating that they live near the town/cities and shopping areasPsychographic The customers prefer the site when they can save time and when there is little hassle and there is free shippingBehavioral Having more options in the local store and making purchases after comparing competitor pricing determines where the customers buy and how often
2] Online shopping site/ digital app and quality based on eQUAL (see the class PPTs).
EBay is one of the most popular e-commerce sites and the site provides cortication to show that what is sold is per the quality criteria. From the product listings users can match the sellers and the products with the titles. As one of the mostly visited online shopping sites the number of clicks as indicated by analytics show that customers know the quality of products and services is high. The traffic source is also diverse from mobile devices to computers and there are other sites that direct to eBay. Marketers can use search display and analytics to determine how best to market to different target groups depending on search display when using eBay..
3When a self-driving car and pricing strategy
Even as the self-driving car concept is becoming popular, it is still a new concept that has mainly been tried in the major cities. I would prefer using the skimming pricing strategy when the price is set high and then reduced gradually. The case for this is that the self-driving car is at the introductory stage and as more people adopt and accept the concept the companies will be able to maximize profits. As early adopters, the companies with the self-driving cars attract the price-sensitive customers when they reduce the prices over time. The customers will also believe that the services are of high quality when the prices are high in the introductory stage.
4] The risks of pricing higher than the internal reference price
When the consumers are provided with information about the internal reference price they are more knowledgeable on the prevailing prices and their expectations that such prices are fair1. Charging a price higher than the internal reference price is associated with consumer reluctance and less willingness to pay for the higher price potentially slowing down the demand for good or services. Expectations of price changes depend on the internal reference price and the consumers judge the offer price using the internal reference price as the basis for making decisions1. There is a likelihood of a...