Question: How can marketers use cluster analysis?

How can marketers use cluster analysis?

Step by Step Solution

★★★★★

3.38 Rating (154 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Cluster analysis is a statistical technique used to divide data into groups so that the data points ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Essentials Of Marketing Analytics Questions!

Q:

How can marketers use the data about smartphone use to build profitable target market segments?

Q:

How can marketers use the concept of community to add value to their products? Give a real-world example of each of the types of communities discussed in the chapter.

Q:

How can marketers use repetition to increase the likelihood that consumers will learn about their brand?

Q:

Define a cluster analysis. How does a cluster analysis work? Using American Express as an example, how can marketers use cluster analysis? Differentiate between hierarchical and k-means cluster...

Q:

Clearly defines cluster analysis. Explains how cluster analysis is useful in marketing segmentation. Explains how marketers can use cluster analysis. Explains how cluster analysis functions

Q:

STP Assignment Download this file. The file contains survey response data for 3 0 subjects. Chipotle asked these 3 0 subjects how important the following six attributes are on a scale of 1 - 7 :...

Q:

STP Assignment Download this file. The file contains survey response data for 3 0 subjects. Chipotle asked these 3 0 subjects how important the following six attributes are on a scale of 1 - 7 :...

Q:

Naseema What do you use cluster analysis for? Select the best response. Cluster analysis is useful for analyzing extremely large data sets by splitting them into more manageable chunks - or clusters...

Q:

Cluster analysis is a technique used in unsupervised machine learning to group a set of objects in such a way that objects in the same group or cluster are more similar to each other than to those in...

Q:

For this project, were going to use cluster analysis to tell a story about our data. In this class?? I know, its shocking. Im asking you to divide the Oregonians in your sample into groups based on...

Q:

Q1. Botjen Corporation, whose fiscal year ends June 30, completed the following transactions involving notes payable: May 11 Signed a 90-day, 12 percent, $66,000 note payable to Shire Bank for a...

Q:

H has a budgeted production for the next budget year of 12,000 units spread evenly over the year. It expects the same production level to continue for the next two years. Each unit uses 4kg of...

Q:

Exerctse 5 - 3 4 ( Aigo ) Lessor's innal direct costs, sales - type lease [ LO 1 5 - 2 , 1 5 - 7 ] Teme of a lease agreement and related facts were as followe: a incremental costs of commisslons for...

Q:

The preparation of a statement of cash flows is [recommended / required] by U.S. accounting rules.

Q:

7 After learning of no import barriers to its product, a US processed food manufacturer conducted market research in Japan to determine the degree of interest in cake mixes. The results were...

Q:

8 As a researcher, you have just been asked to do market research in order to make recommendations on how to market coffee in a number of Asian, European, and South American countries. What questions...

Q:

1 Do you think that such prefab houses as House 55 can gain consumer acceptance in the USA and Europe?

Q:

explaine in depth of hazard identification and control of indirect process of DME production

Q:

May Clothing is a retail mens clothing store. Mays variable cost is $64.60 per shirt and the sales price is $129.20 per shirt. May plans to sell 160,000 shirts for the year and, at this level, would...

Q:

Health & Wellness Consultants Health & Wellness Consultants produces and sells Sculp Max, a weight loss product for men and women. The company has been profitable for over five ( 5 ) years. Its main...