Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A large, dairy company is considering launching a new brand of yogurt. Currently, each brand targets different segments of consumers and those segments were developed

A large, dairy company is considering launching a new brand of yogurt. Currently, each brand targets different segments of consumers and those segments were developed in a non-systematic manner, making it difficult to compare target markets across the different brands. For instance, two brands may be targeting the same general people but not know it.
The company has asked you to help develop a quantitatively -validated consumer segmentation scheme that can be used across all the different brands, as well as for potential new brands.
To do this, you developed a survey that measures the motivations and needs consumers have that the company's different brands of beverages can help meet. The survey contained 36 questions that measured each consumer along 3 potential motivations /desired benefits : well-being , convenience , and flavor. A score of 1 on any of those factors indicates it is not an important motivation for that consumer /segment and a score of 7 means it is highly important .
You collected data from 1,000 respondents randomly sampled from across the US. Now that you have the data, your task is to complete the segmentation, targeting, and positioning process. The cluster analysis and profiling stages have been completed and you found four segments. Based on the results you named the segments health nut (people who eat yogurt for its nutritional benefits), on-the-go (people who eat yogurt because eating it fits into their busy schedules), family (people who eat yogurt because it is an easy breakfast or snack for families or other groups), and simple (a segment with unknown desired benefits , but presumably eat yogurt because of its simplicity as a meal or snack ). The results are in the tables below. Use the data in the tables to answer the following questions.
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
A large, dairy company is considering launching a new brand of yogurt. Currently, each brand targets different segments of consumers and those segments were developed in a non-systematic manner, making it difficult to compare target markets across the different brands. For instance, two brands may be targeting the same general people but not know it. The company has asked you to help develop a quantitatively-validated consumer segmentation scheme that can be used across all the different brands, as well as for potential new brands. To do this, you developed a survey that measures the motivations and needs consumers have that the company's different brands of beverages can help meet. The survey contained 36 questions that measured each consumer along 3 potential motivations/desired benefits: well-being, convenience, and flavor. A score of 1 on any of those factors indicates it is not an important motivation for that consumer/segment and a score of 7 means it is highly important. You collected data from 1,000 respondents randomly sampled from across the US. Now that you have the data, your task is to complete the segmentation, targeting, and positioning process. The cluster analysis and profiling stages have been completed and you found four segments. Based on the results you named the segments health nut (people who eat yogurt for its nutritional benefits), on-the-go ple who eat yogurt because eating it fits into their busy schedules), family (people who eat yogurt the segments health nut (people who eat yogurt for its nutritional benefits), on-the-go (people who eat yogurt because eating it fits into their busy schedules), family (people who eat yogurt because it is an easy breakfast or snack for families or other groups), and simple (a segment with unknown desired benefits, but presumably eat yogurt because of its simplicity as a meal or snack). The results are in the tables below. Use the data in the tables to answer the following questions. Information Segment Profiles: Average Importance of Different Motivations Question 15 Hetye antwers What is the customer lifetime value of the Health Nut segment? Not yet answered Points put ot 4.00 Flaz question What is the customer lifetime value of the On-the-Go segment? Answer: Question 17 nis yet anomened Minta outor 4,00 Priaksuenon What is the customer lifetime value of the Family segment? Answer: Not vet ansered Peintsout of 4 co Tr razgieston What is the customer lifetime value of the Simple segment? Answer: Question 19 noveranwered muins usted aco Fratquenion What is the customer equity of the Health Nut segment? Answer: Question 20 Natyet acowred Foints out of 4.00 F. Aarqueation What is the customer equity of the On-the-Go segment? Answer: Question 21 What is the customer equity of the Family segment? Answer: Question 23 Given your company is trying to use a customer centric approach to marketing, what is the segment you would choose to target and why? Notyet inswered Points out of 6.00 . F Flagquestion The following are response scores for one potential customer on the 3 motivations used for segmentation. Which segment would the customer belong to? (Be sure to show your work on how you made your choice in your work submission.) a. On-the-Go b) simple c. Family d. Health Nut

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Analysis And Valuation Using Financial Statements Text And Cases

Authors: Krishna G. Palepu, Paul M. Healy, Victor Lewis Bernard, W.Gordon Filby

2nd Edition

0324015658, 9780324015652

More Books

Students also viewed these Finance questions

Question

Give three examples of limiting factors.

Answered: 1 week ago