MBA 706 Exam 2- Koksal Questions and Answers Market Segmentation - Correct Answers ✅The process of dividing consumers into groups with similar wants and needs undifferentiated marketing - Correct Answers ✅A company targets all consumers with a single offering instead of segmenting differentiated marketing - Correct Answers ✅company targets different segments using different marketing mixes concentrated marketing - Correct Answers ✅company targets a single segment
A Market segment must be: - Correct Answers
✅Measurable Accessible Substantial Unique Appropriate Stable The Bases (Types) of Segmentation - Correct Answers ✅Geographic Geodemographic Demographic 1 / 3
MBA 706 Exam 2- Koksal Questions and Answers Behavioral Psychographic and lifestyle geographic segmentation - Correct Answers ✅markets are divided into different geographic units (countries/regions/cities). One of the easier methods demographic segmentation - Correct Answers ✅Markets are divided into groups using demographic variables (age/sex/education/etc.) Behavioral Segmentation - Correct Answers ✅markets are divided into groups based on behavioral measures (attitudes, knowledge, loyalty, benefits sought, etc) benefit segmentation - Correct Answers ✅segmenting
consumers based on what benefits they seek (example: style
vs comfort) User Status - Correct Answers ✅Segmenting consumers based on user status (users, non- users, potential users) loyalty status - Correct Answers ✅segmenting based on brand loyalty 2 / 3
MBA 706 Exam 2- Koksal Questions and Answers Psychographic and lifestyle segmentation - Correct Answers ✅Segmenting markets based on personalities, values, lifestyles, etc Market Targeting - Correct Answers ✅Deciding which
segments should be approached based on:
Size and growth potential of segments Attractiveness of segments Organization's objectives and resources single segment concentration - Correct Answers ✅Company focuses on a single segment (can be risky) Selective specialization - Correct Answers ✅Focusing on several segments (reduces risk associated w/ sing seg.concentration) Product specialization - Correct Answers ✅Company specializes in a particular product type and markets it to different segments market specialization - Correct Answers ✅company focuses on a segment and satisfies its needs with various products
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