Clustering Techniques Applied to Segmenting Markets

question 9

Multiple Choice

Clustering techniques applied to segmenting markets

• A)usually require computers to group people based on data from market research.
• B)remove the need for managerial judgment.
• C)eliminate the need for marketing managers to specify in advance what dimensions might be relevant for grouping consumers.
• D)affect the customer's purchase of specific product or brand.
• E)include the specialty markets that the segmenters are working with.

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Definitions:

Income Statement

A financial statement that shows a company's revenues, expenses, and profitability over a specified period of time, providing insight into its financial performance.

Absorption Costing

An accounting method where all manufacturing costs, including both fixed and variable costs, are allocated to produced units.

Direct Labor Cost

The total cost of wages paid to workers directly involved in manufacturing a product or delivering a service.

Fixed Manufacturing Overhead

The total of all manufacturing costs that do not vary with the level of production, such as rent, salaries, and insurance.