Describe the concept of micromarketing. How may a durable goods company adopt it to its business?
What will be an ideal response?
Micromarketing refers to a new concept of segmentation that involves trimming down a segment to smaller subsegments, even to an individual. The durable goods company can custom-design and deliver a product to meet an individual customer’s need. This will require developing a proprietary database of customers’ preferences and purchase behaviors, and a tightly engineered approach to service delivery that uses the database to tailor a service package for individual customers or a group of customers.
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?Consider a fixed-payment security that pays $100 at the end of every year for five years. If the annual rate of discount is 7 percent, the present value of the security is
A. ?$142.64. B. ?$410.02. C. ?$789.34. D. ?$999.63.
Financial flexibility is generally defined as
A) the ability of a company to adapt to unexpected needs and opportunities. B) the uncertainty or unpredictability of the future results of a company. C) a measure of overall company performance. D) a company's ability to maintain a given level of operations.
The order of the levels in the pyramid of global corporate social responsibility and performance from bottom to top is
A. economic, legal, ethical, and philanthropic. B. legal, economic, ethical, and philanthropic. C. economic, legal, philanthropic, and ethical. D. ethical, economic, legal, and philanthropic. E. philanthropic, economic, legal, and ethical.
Marketers should understand that people's core beliefs and values tend to be ________
A) fixed B) highly flexible C) similar around the world D) constantly and rapidly changing E) easily influenced by secondary beliefs