MBA 706 Exam 2 Koksal Exam Questions and Answers What is market segmentation? - Correct Answers ✅The process of dividing consumers into groups with similar wants and needs.What are the three types of marketing approaches? - Correct Answers ✅Undifferentiated marketing differentiated marketing concentrated marketing undifferentiated marketing - Correct Answers ✅Targeting all consumers with a single offering.
Example: Henry Ford's Model T
Advantages in undifferentiated marketing - Correct Answers ✅Offers cost advantages and is becoming increasingly rare in modern markets.differentiated marketing - Correct Answers ✅Targeting different segments using different marketing mixes.
Example: Coca-Cola's shift from a single drink to various
tastes and containers concentrated marketing - Correct Answers ✅Targeting a single segment. 1 / 3
MBA 706 Exam 2 Koksal Exam Questions and Answers
Example: Steinway's concentration on the concert and
professional pianist market.What are the criteria for a market segment? - Correct Answers ✅Measurable, accessible, substantial, unique, appropriate, and stable.What does it mean for a market segment to be measurable? - Correct Answers ✅Data should be available to evaluate the attractiveness of segmentation.What does it mean for a market segment to be accessible? - Correct Answers ✅The segment ought to be easily understood and manageable for the company.What does it mean for a market segment to be substantial? - Correct Answers ✅The segment should be large and valuable.What does it mean for a market segment to be unique? - Correct Answers ✅The segment should be distinguishable from other segments.What does it mean for a market segment to be appropriate? - Correct Answers ✅The characteristics of the segment should not contradict the resources or objectives of the company. 2 / 3
MBA 706 Exam 2 Koksal Exam Questions and Answers What does it mean for a market segment to be stable? - Correct Answers ✅The company should be able to predict the behavior of the segment in the future.What is geographic segmentation? - Correct Answers ✅Dividing markets into groups based on geography.What is geodemographic segmentation? - Correct Answers ✅Combining geographic and demographic factors to divide markets.purpose of geodemographic segmenting - Correct Answers ✅provide the base for targeting customers in particular areas who exhibit similar behaviour patterns.What is demographic segmentation? - Correct Answers ✅Dividing markets into groups using demographic variables such as age, sex, income, etc.Behavioral Segmentation - Correct Answers ✅Dividing markets into groups based on behavioral measures such as attitudes, knowledge, loyalty, etc.benefit segmentation - Correct Answers ✅Segmenting consumers based on the benefits they seek.
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