What is the advantage of crowd voting?

XYZ Corp, a leading technology company, is introducing a revolutionary new product to the market. The product is expected to disrupt the industry with its innovative features and superior performance. However, the market already has established competitors with loyal customer bases. The company's marketing team has conducted extensive market research and identified three distinct customer segments with varying preferences and willingness to pay: Innovators: These customers are early adopters of new technology and are willing to pay a premium for cutting-edge features. They represent approximately 15% of the total market. Pragmatists: These customers value functionality and reliability over advanced features. They are price-sensitive and typically compare prices before making a purchase decision. They represent approximately 50% of the total market. Conservatives: These customers are risk-averse and prefer well-established brands with a proven track record. They are…

When it comes to market segmentation and target marketing, all of the following are correct with the exception of Targeting a young female business executive who lives in the suburbs of Toronto involves only geographic segmentation. Marketers refer to the target market profile when making decisions regarding both the product attributes and the advertising messages developed to promote the product. A brand is "democratized" if customers can control the marketing of the brand through an online consumer voting process. Technology is an important factor in the growth and adoption of direct segmentation and behavioural marketing. Real estate companies and mortgage companies tend to use behaviour response segmentation over traditional mass media.

Assuming you are the marketing executive for a major international airline flying in/out of Sydney. Your airline has 4 classes of passengers: first class, business class, premium economy class and economy class. Describe the market for the first class, business class, premium economy and economy class seats (i.e. who are the people who would likely to fly first, business and economy class). How do we know? Give reasons to support your answer.