Module 2 Case Assignment
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School
Texas Tech University *
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Course
5360
Subject
Information Systems
Date
Apr 3, 2024
Type
docx
Pages
4
Uploaded by MagistrateLeopardMaster500
1
CASE ASSIGNMENT
1:
SEGMENTING
THE
SMARTWATCH
MARKET
(Pages 90-92)
There is a fully solved case preceding the assigned case. The solved case is entitled “Managing Customer Heterogeneity at Dentmax” and begins on page 79. Before you begin working on your assigned case, please read this case as an example/guide for your assignment.
Please read the “Segmenting the Smartwatch Market” case which begins on page 90 of your book.
Please note that this course is focused on analytics-based marketing strategy rather than how to use analytical techniques and tools. Therefore, the output from running the analytical techniques (e.g., cluster analysis) is provided for you on pages 2 and 3 of this document so that you can interpret the results for answering the case questions. You do NOT have to run the analytical techniques for this assignment.
Answer the “Case Exercises and Questions” for the “Segmenting the Smartwatch Market” provided on page 4 of this document.
An “A” submission is one that is organized
, accurate
, complete
, and includes effective arguments. Writing more does not necessarily mean a higher score, I am looking for quality answers. Use what you have learned from this module to craft your answers.
Good luck!
2
OUTPUT
Figure 1. Elbow Plot Output
3
Table 1. Cluster Analysis Results
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4
QUESTIONS
Question 1: Determine the number of distinct segments present in the market as represented in the current respondent sample and provide your rationale.
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Based on the Elbow Plot Output from Figure 1, the number of distinct segments would be three. After 3 clusters, there is not much loss of information, which is why I believe that 3 would be the optimal number of clusters. It appears that the most loss of information is happening when we are going from 3 to 7 clusters.
Question 2: After determining the number of segments, describe each using the segmentation and descriptor variables. Based on the characteristics, create a name for each segment that captures the essence of what makes it unique.
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The following are the names of my segments:
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Segment 1: Connected Communicators
o
Size: 321 (32.1%)
o
Key Characteristics: High scores in constant communication, timely information, and task management.
o
Unique Attributes: Individuals who highly prioritize staying connected, receiving timely information, and managing tasks efficiently.
-
Segment 2: Wellness Enthusiasts
o
Size: 218 (21.8%)
o
Key Characteristics: High scores in well-being and athlete, and moderate scores in other factors.
o
Unique Attributes: Health-conscious individuals who prioritize fitness tracking and overall well-being, seeking smartwatches with advanced health monitoring features.
-
Segment 3: Lifestyle Optimizers
o
Size: 461 (46.1%)
o
Key Characteristics: High scores in income, and moderate scores in other factors.
o
Unique Attributes: Individuals who value lifestyle enhancements and seek smartwatches that cater to their higher income levels, potentially focusing on luxury and convenience features.