Josh Is Convinced That Subgroups Exist Within His Company's Current

question 67

Multiple Choice

Josh is convinced that subgroups exist within his company's current customer base.Further, he believes that these different groups of customers opt to purchase his company's brand for different reasons, and he feels this information is critical if he is to effectively target these customers and potential customers like them.Which type of market research analysis should Josh look into conducting in order to address his concerns?

• A) clustering
• B) segmenting
• C) positioning
• D) customer lifetime value

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Definitions:

Profit Maximized

The point at which a firm achieves the highest possible profit, typically by adjusting output levels or prices.

Total Revenue

The total amount of money that is brought in by sales of goods or services.

Total Cost

The complete cost of production, encompassing both fixed and variable costs.

Marginal Revenue

The incremental revenue acquired by a business upon selling one more unit of a good or service.