Sunday, February 21, 2016

Week 7 Reading Reflection

Biggest Surprise from reading?
 The biggest surprise for me from the reading would be that I did not know how much went into market segmentation. As a public relations major, I hear more about market segmentation as how it applies to advertising. I did not know that there were so many listed approaches as to how people are targeted and that was a shock to me. One fact I also saw surprising was that even though market segmentation still shows disappointing performance, about 59% of businesses had reported using it and market segmentation is still widely used. Usually, in the business world, when there is disappointing performance, the method is not used. However with market segmentation in this case, it is a practice that is still around.
One part that was confusing?
As far as confusion, I feel like the article was not that confusing, there was just a lot of information packed into the article.
Two questions and why: 
1) With new CMOs, is it common practice to completely change the segmentation plan when the CMO changes too? -- I guess my reason for asking this is because I want to know if the segmentation plan is more dependent of the individual's beliefs or is it to completely start a new strategy over?
2) Is there any difference between "conjoint analysis" and focus groups? -- They just happen to sound the same when I was reading the article.
Was there anything I thought was wrong? 
There was not anything that I particularly thought was wrong because I felt like I learned more from the article than I expected. Much of the information was new to me, therefore I can't pinpoint things that I believe are wrong because they were things I did not know about.

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