In this assignment, you will analyze a case in your Case Study booklet from McGr

In this assignment, you will analyze a case in your Case Study booklet from McGraw-Hill. The 8-page case is: “Customer Experience as Segmentation Basis: The ‘Luxury’ in Question”. Also, read the article ““Welcome to the Experience Economy”. Harvard Business Review, July-August 1998. B. Joseph Pine II and James H. Gilmore. Once you have read the case and the article, you will answer all the questions at the end of the case (I-VI).
Your answers should reflect depth of understanding and should have citations from the readings. All citations should reflect APA format. The document should be submitted with a cover page and reference page.
The case reviews traditional segmentation elements such as demographics, psychographics and geographics. It also ties in with customer relationship marketing management. It introduces the idea of using the “customer experience” as a method of segmentation and makes a comparison of this new methodology to traditional methods.
Assignment Questions
I. What are the conventional bases of segmenting the target audience? What relevance do segmentation platforms like Demographic, Geographic, Psychographic and Behavioral (including VALS & PRIZM models) hold in the wake of increased competition, private label proliferation, rivalry from unorganized sector and e-tailing gaining traction?
II. How do you characterize the nature of competition (between the companies in an industry and also the intense rivalry from private labels/unorganized sector) and the efficacy of segmentation bases?
III. On what basis do you think the companies/in the industries featured in the Exhibit I of the case study across the product-price pyramid have segmented their markets, targeted their customers and positioned their products?
IV. What is the difference between CRM and CEM? For what kind of companies/industries do you think customer experience can be an ideal or suggested segmentation basis?
V. Do you think Customer Experience Management can be applied more effectively in Service Sector than Manufacturing Sector?
VI. In the wake of experience economy, should customer experience be looked at as a complement or a substitute for the existing segmentation bases?