Why Do Businesses Segment Their Markets

question 143

Essay

Why do businesses segment their markets?

Appreciate the critical role of feedback in employee development and the use of 360-degree appraisals for comprehensive evaluation.

Understand the impact of compensation strategies, including bonuses and merit pay, on motivation and loyalty.

Recognize the challenges and biases in performance evaluation methods and strategies to mitigate them.

Comprehend the significance of the initial employment period in setting performance expectations and establishing employer-employee relationships.

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Definitions:

Performance Appraisal

A formal assessment process in which an employee's job performance is evaluated, typically by their manager, using established standards to guide improvements and professional development.

Rating Scales

Tools or instruments used to assign a value to a variable or to measure a subject's behavior, feelings, or perceptions along a continuum.

Structured Interviews

An interview technique where all candidates are asked the same set of predetermined questions in the same order.

Halo Error

A bias in performance appraisals that occurs when an evaluator's overall impression of a person influences their judgment about specific qualities.