Question

Marketing manager of newegg, a web-based electronic products sales company, uses a segmentation scheme based on the incomes of target customers. The segmentation system has four segments: (1) low income, (2) moderate income, (3) high income, and (4) wealthy. The company database holds information on customers’ purchases over the past several months. Using Microsoft Excel on this database, the marketing manager finds that the average total dollar purchases for the four groups are as follows.

Market SegmentAverage Total Dollar PurchasesLow income $101 Moderate income $120 High income $231 Wealthy $595

Construct a table that is based on the Duncan’s multiple range test table concept discussed in the chapter that illustrates that the low-and moderate-income groups are not different from each other, but the other groups are significantly different from one another.

Answer 1