Discuss the Characteristics of Two Chart Types That Show a Three-Way

question 18

Essay

Discuss the characteristics of two chart types that show a three-way association. Provide an example of each type.

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Definitions:

Segmentation

The process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers based on some type of shared characteristics.

Distinct Customer Groups

Segments of the market differentiated by specific needs, characteristics, or behaviors, requiring tailored marketing strategies.

GE/McKinsey Portfolio

A strategic tool used for managing a business's portfolio of products or business units, plotting them on a grid to decide where to invest or disinvest.

Segment Attractiveness

Segment attractiveness refers to the degree to which a specific market segment is considered desirable to enter or compete in, based on factors like size, growth potential, and profitability.