Chase. Questions. Literature & Language Assignment.

Chase
Name
Institution/ Affiliation
Question one
The world comprises of a myriad of different consumers, each with unique behaviors and needs. For instance, a college student's spending habits and needs are different from those of an employed professor who is married and has children. As such, organizations use market segmentation as a way of understanding their consumer behavior and purchasing patterns. When effectively done, this tool allows a company to realize its highest return on investment based on the sales and marketing expenses (Choi & Hong, 2017). Further, it helps an organization match its customers with goods that satisfy their individual needs and behavior patterns.
Customer segmentation is a fundamental tool in the credit card industry. Over the past two decades, the credit card industry has been growing significantly hence becoming more competitive. Therefore, segmentation has provided insights into opportunities and risks, thus improving the return on investment among credit card players (Choi & Hong, 2017). For instance, companies are using the tool to reduce the chances of running uninterested campaigns. In this industry, dividing the market into smaller segments based on age helps organizations use their time and resources more efficiently. Further, it helps companies understand the prospective market better and use personalized strategies that ensure each group's needs are fulfilled.
Question Two
Sapphire metal core card offers customer ease of use and added security and elevates customer status since it is considered a sign of luxury. These cards are perceived to be attractive, more especially to the affluent who demand cutting edge innovations. Describes how a customer earns recognition every time they produce a metal core card in any outlet. Although these cards have a significant effect on the cost of goods, they are worth as they help attract the affluent who are believed to dominate the credit card market.
Question three
Enthusiastic customers are valuable assets to any business. They play a vital role in marketing the business to the community around them. However, these customers do not freely market your brand to friends and colleagues, but rather depend on the satisfaction and incentives they receive. Research shows consumers consider friendly service, speed, convenience, and knowledge help are among the essentia...