How do businesses segment their markets?
What will be an ideal response?
Consumer and business marketers use many of the same variables to segment their markets. Like consumer groups, business buyers can be segmented using geographic, demographic, benefits sought, user status, usage rate, and loyalty status segmentation. Business buyers are also segmented by the variables of operating characteristics, purchasing approaches, situational factors, and personal characteristics.
You might also like to view...
Watts Corporation made a very large arithmetical error in the preparation of its year-end financial statements by improper placement of a decimal point in the calculation of depreciation. The error caused the net income to be reported at almost double the proper amount. Correction of the error when discovered in the next year should be treated as
a. an increase in depreciation expense for the year in which the error is discovered. b. a component of income for the year in which the error is discovered, but separately listed on the income statement and fully explained in a note to the financial statements. c. an extraordinary item for the year in which the error was made. d. a prior period adjustment.
Keenan has coverage with two separate insurers that provide similar benefits. If he has a loss,
A) the claim will be declined by one insurer and covered by the other. B) Keenan will need to pay an additional premium to both insurers. C) the amount paid by the two insurers will be prorated and Keenan's policy will be cancelled by the insurer with the next renewal date. D) the amount paid by the two insurers will be prorated and Keenan will be refunded any excess premium.