What Is a Great Example of Using Cluster Analysis in Business

question 175

Multiple Choice

What is a great example of using cluster analysis in business to create target-marketing strategies?

• A)Google search
• B)First name information
• C)Zip code segmentation
• D)Last name associations

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Definitions:

Self-Expansion Theory

A psychological theory proposing that individuals have a fundamental motivation to enhance their efficacy through relationships and experiences, leading to personal growth.

Assortative Mating

The idea that people are attracted to others who are similar to them in some kind of social hierarchy.

Equity Theory

The idea that people are motivated to maintain a sense of fairness or equity, whereby both partners feel that the proportion of outcomes (rewards) to inputs (costs) that each receives is roughly equal.

Social Hierarchy

The organization of individuals within a society that is ranked from higher to lower based on power, status, or other criteria.