What are the different geographic segmentation techniques available for a consumer market?
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Geographic segmentation, where companies segment the market according to physical location characteristics, is
another popular segmentation technique. The technique works well when geographic areas possess unique traits
that are relevant to the service or product offering that the company provides, such as surfboards or food seasoned
to satisfy local tastes. Here are several geographic segmentation examples:
• International: Companies can choose to market their brands in certain countries, but not others. For example,
Nike improved its brand associations around soccer when it chose to market its shoes to the European market.
• Geographic Feature: Distinctive features of a geographical area can influence the types of services or products to
market there. For example, Southern California boasts long stretches of coastline, making it ideal for the sales of
personal watercraft and surfboards, and providing boating repair services.
• Climate: Typical climates of a geographical area can also be used to the company's advantage. For example, the
cold climate of the Rocky Mountains makes the area well suited for skiing and snow boarding.
• Metro Size: The size of a particular region can impact marketing. For example, some businesses select larger cities
because of greater available market sizes. A concept often used in metro size geographic segmentation is the
Metropolitan Statistical Area (MSA), defined by the U.S. Census Bureau as a concentrated core area (like a major
city) surrounded by adjacent communities tightly integrated socially and economically with that core. For
example,MSA #16980, the Chicago-Joliet-Naperville MSA (sometimes called Chicagoland) centers on Chicago,
Illinois, with 9.5 million people in 14 counties over three states.
• Density: The density of an area, or the number of people packed into the area, can also aid marketing. For
example, dog walking services are popular in large cities like New York because so many people with dogs live
fairly close together, making it relatively easy for a dog walking service to prosper there.
•Local Area: Companies can choose to only serve restricted areas within a community. For example, a pizzeria
offering delivery services might choose to specialize in a specific area to keep delivery times low.
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In the country of Aargh, in the equation for TFP, Y = A×Ka×L1?a,the coefficient is a = 0.2. The capital stock is growing 6 percent per year, employment is growing 1 percent per year, and output is growing 4 percent per year. In the country of Blargh, the coefficient is a = 0.25, the capital stock is growing 10 percent per year, employment is growing 2 percent per year, and output is growing 5 percent per year. In which country is TFP growing the fastest? In which country is output per worker growing the fastest? Explain your answer and show all your calculations.
What will be an ideal response?
Which of the following values for z should we use in as a safety stock calculation if we want a service probability of 98 percent?
A. 1.96 B. 2.30 C. 1.64 D. 2.05 E. None of these
All buffers should begin by complimenting the receiver
Indicate whether the statement is true or false
During July, its first month of operation, Boardwalk Beach Shop experienced the following business events. The company uses the periodic inventory system.1) July 2 Issued $29,000 of common stock for cash.2) July 3 Purchased $7,500 of merchandise on account with terms 2/10, n/30, FOB shipping point.3) July 3 Paid $300 cash for shipping charges on the July 3 purchase.4) July 4 Returned $1,500 of the merchandise purchased on July 3.5) July 5 Sold merchandise that cost $2,000 for $3,500 cash.6) July 10 Recorded the discount and paid the amount due from the purchase of merchandise on July 3.7) July 14 Purchased additional merchandise for $4,600 on account with terms 2/10, n/30, FOB destination.Required: Record the events in general journal format.
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