Determine how to best place each of these ten consumers

Assignment Help Marketing Management

Reference no: EM133441167

You are working for a marketing research firm and have been asked to segment the market of car buyers into three groups so that each customer would be a likely buyer of one of three cars.

The car list1 (Table 1) shows the mileage equivalent each car gets (representing utilitarian value) and the feature ranking of the car (representing hedonic value).

Table 1-Example Cars

Car Mileage(MPG) Features
Nissan Leaf 112 Low
Ford Edge 21 High
Honda Fit 36 Medium

Each of the 10 customers (Table 2) have answered a survey where they rated on a scale of 1 to 10

a) how practical (utilitarian) a car they would buy should be, and b) how enjoyable (hedonic) a car they would buy should be.

Table 2-Consumer Survey Results

Name Gender Age Cars Should be Practical(10=Agree) Cars Should be Enjoyable(10=Agree)

Charles Benton M 22 10 1
Sandra Brooks F 46 3 8
Helina Kersten F 30 8 2
Barbara McGill F 60 3 8
Philip Murphy M 38 9 1
Bob Rogers M 34 6 5
Gay Taylor F 31 8 3
Susan Whitfield F 39 5 6
Karla Wiese F 44 3 9
Susan Zuroweste F 54 2 9

Task
The job is to create three segments and determine how to best place each of these ten consumers into one the segments then match each segment to a car. Use the link provided in Canvas to record your results. Explain what data was used to create the three segments and why you used that data.

Reference no: EM133441167

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