Cluster analysis is well suited to global marketing research.

Question

Quizplus · Accepted Answer

Cluster analysis is a powerful tool used in global marketing research to segment and target international markets effectively. It helps identify homogeneous groups of customers with similar preferences and behavior patterns, thus enabling marketers to tailor their marketing efforts based on the distinctive needs and characteristics of each group. Clustering can also reveal valuable insights about cross-cultural differences and similarities, enabling companies to adapt their products and communication strategies to each market's cultural context.

Cluster Analysis Is Well Suited to Global Marketing Research