Question: Marketing Question--> Please explain this answer while showing your work and all necessary formulas. The marketing team is given a survey to analyze. The survey
Marketing Question--> Please explain this answer while showing your work and all necessary formulas.
The marketing team is given a survey to analyze. The survey was conducted within a city
and asked people's interest in a potential product (similar to the one we had in class). The assistant analyst
complied the data to reach the following table. The table shows, for example, for consumers who were
surveyed and had income below $50k, 90 expressed interests while the rest 225 said they were not interested
in the product.
Suppose we are given an advertising budget spend to make consumers aware of our new product; the
cost of advertising per consumer is the same for any income bracket.
Interested Not-interested
Income <$50k 90 225
Income $50 - 75k 122 240
Income $75 - 100k 185 326
Income >$100k 54 117
A. We should first target the segment with income <$50k.
B. We should first target the segment with income $50-75k.
ANSWER --> C. We should first target the segment with income $75-100k.
D. We should first target the segment with income >$100k.
Please explain this answer while showing your work and all necessary formulas.
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