SCENARIO 13-19
the Marketing Manager for a Nationally Franchised Lawn

question 209

True/False

SCENARIO 13-19
The marketing manager for a nationally franchised lawn service company would like to study the characteristics that differentiate home owners who do and do not have a lawn service.A random sample of 30 home owners located in a suburban area near a large city was selected; 11 did not have a lawn service (code 0) and 19 had a lawn service (code 1).Additional information available
concerning these 30 home owners includes family income (Income, in thousands of dollars) and lawn size (Lawn Size, in thousands of square feet).
The PHStat output is given below:
Binary Logistic Regression $$\begin{array}{l}\begin{array} { l r r r r } \hline { \text { Predictor } } & \text { Coefficients } & \text { SE Coef } & { Z } & p \text {-Value } \\\hline \text { Intercept } & - 7.8562 & 3.8224 & - 2.0553 & 0.0398 \\\text { Income } & 0.0304 & 0.0133 & 2.2897 & 0.0220 \\\text { Lawn Size } & 1.2804 & 0.6971 & 1.8368 & 0.0662\\\text { Deviance } & 25.3089\end{array}\\\end{array}$$
-Referring to SCENARIO 13-19, there is not enough evidence to conclude that Income makes a significant contribution to the model in the presence of LawnSize at a 0.05 level of significance.

Recognize the different strategies organizations can adopt in promoting their competitive advantages.

Define and differentiate between market segments and consumer behavior.

Understand the significance of substantial, accessible, and actionable market segments.

Grasp how market segmentation aids in resource allocation and marketing strategy formulation.

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Definitions:

Independence

The state of being free from the control or influence of others, often referring to self-sufficiency in business operations.

Small Businesses

Enterprises characterized by fewer employees and lower revenue compared to larger companies.

Small Business Manager

A person responsible for overseeing and directing the operations of a small business.

Entrepreneur

An individual who initiates, organizes, and operates a business venture, taking on financial risk to do so.