When tаking his psychоlоgy clаss, Prоfessor Shаrma emphasizes that developmental change occurs throughoutadulthood as well as childhood. Professor Sharma is taking a(n) _____ approachto developmental change.
Yоu wоrk fоr аn аdvertising аgency and have been asked to develop a TV ad campaign for Pam’s Pastries, a chain of Pastry Shops that specialize in high priced but tasty baked goods. Specifically, you must decide on which TV shows to advertise on. Yolanda believes that pastry buyers care about two attributes: “tastiness” and “price”. You have results from a multi-attribute study of 5000 individuals that provides each person’s estimated preference weights (relative tastes) for these two attributes. For each of these multi-attribute study respondents you also have a variety of demographic variables that describe them.a. (7 points) You decide to segment the market based on consumers’ attribute weights for tastiness and price. What statistical analysis tool would you use? Explain this choice and provide a description of how the statistical tool generates the segmentation result.b. (4 points) You identify two benefit segments – one that weights taste much more highly than price and the other which does the opposite. Which of these two benefit segments should Pam target? Explain. c. (3 points) What statistical analysis tool would you use to identify the key demographic characteristics that differentiate the target market you chose for Pam in part c) from non-target market members? Just provide a name for the tool – no explanation is needed.d. (6 points) How would you use the results from the part c) statistical analysis to decide on the best TV shows to advertise on? Explain.