Profiling operate in environment

Assignment Help Business Economics
Reference no: EM131486967

Customers can be profiled based on different personal aspects and this information can be used by firms to analyze buying behavior. Customers can be profiled based on their geographic location. If a firm wants to sell toward a specific market located in one area, like a tourist or resort town for example, then this type of information may be useful. Demographic information is also collected of customer and this includes aspects like age, sex, religion, race, and income. These aspects are very useful to study when determining which particular group to market a product/service toward.

Another profiling aspect is psychographic, which takes into consideration a customer's personality and lifestyle choices. Buyer behavior is the last customer profile aspect discussed in this chapter and this refers to how and why customers buy what they do. For example, are buys loyal to a specific brand, and if so, how does that effect the marketing of a new company. All of these aspects should be considered when determining which market to reach through a firm's marketing efforts.

How have you seen profiling operate in your environment? How might one leverage profiling? What cautions might you need to be aware of when profiling?

Reference no: EM131486967

Questions Cloud

High-end bicycle manufacturer : Assume the company is considering entering the Brazilian, Chinese, and Indian markets. When conducting its market assessment
What changes would you suggest to improve it : If the campaign is not effective, what changes would you suggest to improve it?
International association of fire fighters : Identify the overlapping interests of the city manager and the Local 42 of the International Association of Fire Fighters.
Brief literature review : Brief overview of the topic .Why should we care about this issue, how does it affect us in the USA?Brief literature review.
Profiling operate in environment : How have you seen profiling operate in your environment?
Calculate total liabilities at year end : Using Accounting Relations: General Mills, Inc. (Medium) The following numbers appeared in the annual report of General Mills, Inc.
Assignment on external and internal environments : Choose an industry you have not yet written about in this course, and one publicly traded corporation within that industry.
What was the amount of shares repurchased : Find the Missing Numbers in the Equity Statement: Cisco Systems, Inc. (Easy) At the end of its 2007 fiscal year, Cisco Systems, Inc., the producer of routers.
Current or future approach to leadership : Select which leadership theory most accurately describes your current or future approach to leadership.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd