Chapter 3

Question 1

What is Customer Analysis?

Answer 1

An examination of overall market characteristics and in-depth exploration of customer needs and behaviors

Customer Analysis is essential for understanding customers to improve marketing and outreach efforts.

Question 2

What types of research does Customer Analysis combine?

Answer 2

Qualitative and quantitative research

This combination helps to draw meaningful conclusions about customers.

Question 3

What does Customer Analysis help determine?

Answer 3

Customer needs, effective messaging, and purchasing behavior

Understanding these aspects aids in making necessary changes for growth.

Question 4

What is the first component of Customer Analysis?

Answer 4

Market Analysis

This component assesses market attractiveness and potential segments.

Question 5

What key aspects does Market Analysis look at?

Answer 5

• Overall market size and growth
• Margins and profit potential
• Demand levels and trends

These factors are critical in determining market viability.

Question 6

What questions does Customer Needs Analysis address?

Answer 6

• Who are the customers in terms of demographics and psychographics?
• What needs or problems do they have?
• Are there different groups with differing needs?
• What benefits do these groups value most?

These questions help tailor services to meet customer demands.

Question 7

Fill in the blank: Customer Analysis allows you to determine the _______.

Answer 7

needs of your customers

Identifying customer needs is crucial for effective marketing.

Question 8

True or False: Wealthy retirees in the travel industry are more price-sensitive than young families.

Answer 8

False

Wealthy retirees value comfort and safety more and are less price-sensitive.

Question 9

What is a potential benefit of conducting Customer Analysis?

Answer 9

Increased growth through informed marketing strategies

Understanding customer behavior can lead to more effective outreach.