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Customer Segmentation and Evolving Needs

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Customer Segmentation and Evolving Needs

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Questions and Answers

What is the main reason waiting for customer evidence before responding is not effective?

It helps capture individual sources of customer dynamics

It ensures an optimal marketing strategy is in place

It aligns with industry developmental effects

It delays the firm's response to change (correct)

What does applying a customer lifecycle perspective involve?

Focusing on industry developmental effects

Identifying optimal marketing strategies for each stage

Ignoring individual sources of customer dynamics

Capturing average changes among customers as they age (correct)

Which of the following is an advantage of using lifecycle approaches to manage customer dynamics?

They are simple and easy to use (correct)

They are complex and difficult to implement

They ignore industry developmental effects

They provide tailored solutions for individual customers

What is the main limitation of suggesting that all customers or products follow a predetermined lifecycle curve?

It may not account for unique customer behaviors Signup and view all the answers

What is the primary difference between a customer lifecycle approach and a product or industry lifecycle approach?

Customer lifecycle captures average changes among customers as they age Signup and view all the answers

Which of the following is NOT included in the customer lifecycle perspective?

Industry developmental effects Signup and view all the answers

Why might applying lifecycle perspectives to customers, products, or industries be beneficial for firms?

To understand average changes among customers as they age Signup and view all the answers

What is problematic about suggesting organizations can identify an optimal marketing strategy at each stage of a predetermined lifecycle curve?

It may not account for the diverse needs of different customers Signup and view all the answers

Which type of perspectives are considered predominant in many marketing courses and textbooks?

Lifecyle approaches Signup and view all the answers

What aspect of change do product or industry lifecycle approaches mainly capture?