Mini Case 9- 1

question 16

Multiple Choice

Mini Case 9- 1
A group of investors are thinking of starting a for- profit institution to be called Heaven University. They have identified a small segment of society that is displeased with the high cost of HECS or upfront fees and is willing to forego all social and sporting extracurricular activities in order to get an inexpensive, quality education in three years. The university investors will advertise nationally. Its target audience is individuals between 18- 40 years of age, who have either never undertaken a University degree or who failed to complete a degree commenced within the last ten years. The investors want to attract students who are currently working at a job with which they are dissatisfied. Heaven will only offer three degree programmes, which cannot be modified to individual student needs. Research has shown that these are degrees that this market segment repeatedly seeks. Students can earn their degrees over the Internet and only have to attend a one- week seminar on campus twice a year.
-Refer to Mini Case 9- 1. Which of the following approaches BEST describes the university's approach to segmentation?

• A) Mass marketing
• B) Differentiated marketing
• C) Local marketing
• D) Micromarketing
• E) Hyper- segmentation

Analyze the validity and payment requirements of stale checks in the banking environment.

Explain the concept of electronic funds transfer (EFT) and its benefits for banks and customers, including customer protections under law.

Describe the procedures for issuing a stop payment order, including timelines and responsibilities of the bank and customer.

Understand the importance and application of ethical guidelines in social research.

---

Definitions:

Weekly Cost

Expenses calculated on a weekly basis, tracking the regular outflow of cash for operations or living expenses.

Total Costs

The sum of all expenses incurred by a business in the production of goods or services, including fixed and variable costs.

Output

The amount of goods or services produced by a company, industry, or economy within a specified period.

VC

Venture Capital, a form of private equity financing provided by investors to startups and small businesses with long-term growth potential.