Explain the four common steps involved in identifying customers in any industry. Answer the question with relevant examples using not more than 20 lines.

What does “unique monthly visitors” mean in online lingo? Who uses this metric and for what purpose?

Provide the definitions of innovation in a table

MARKET SEGMENTS Convenience driven consumers These are consumers that are looking to simplify the purchase, or its process, and are primarily seeking the benefit of convenience. Budget conscious shoppers These consumers may make their purchase decision based on the lowest price, or select the product that represents the best value for money.   Focus on quality This is a segment of consumers who are  interested in higher quality products and services. Many consumers in this segment believe that buying higher quality represents better value over time.   Rational, value for money The consumers in this market segment are more involved in the purchase decision and look to make decisions on a “best product solution” basis.   Attracted to strong brands This market segment is less involved in their purchase decision, and will rely upon a strong brand to guide their purchase decision.   Environmentally aware This is an emerging segment consisting of people who take into account the…

What are the advantages and disadvantages of Frito-Lay driv-ers stocking their customers’ shelves?

Which of the following would most likely benefit from being categorized as segmentation by product usage?   Protection services   Fast food restaurant   Silicon Valley   Dairy farmers.

Describe at least one factor which is important but which is also difficult to quantify

Which of the following is a disadvantage of employing a multiple products, multiple market segments strategy if not implemented well? Select one: a. meeting customer needs but at the expense of higher prices b. reduced quality and higher prices c. lower prices but with higher production costs d. higher quality but lower prices e. higher sales but lower profits

What is DEFINITION OF the One-way ANOVA? When and how to use one-way ANOVA

What is the process for researching customer needs and analysing and interpreting the outcomes to establish business options and opportunities.