Clustering Techniques Applied to Segmenting Markets ______

question 189

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:

Sample

A subset of individuals, items, or data taken from a larger population, used to conduct statistical analysis without examining the entire population.

Illusion Of Control

The tendency for people to overestimate their ability to control events; an unrealistic belief in one's influence over external events.

Gamblers

Individuals who risk something of value on the outcome of an event with an uncertain result, often with the primary intent of winning additional money or goods.

Regression Toward The Mean

The tendency for extreme or unusual scores or events to fall back (regress) toward the average.