Market Segmentation Analysis: Identifying Segments and Positioning Strategies

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Listen to an AI-generated conversation about this lesson

Questions and Answers

What does one-to-one marketing involve?

  • Targeting unprofitable customers
  • Giving all customers the same product
  • Ignoring customer feedback
  • Forming close relationships with best customers and meeting their needs (correct)

What is the main goal of market segmentation from a consumer perspective?

  • To interact more with unprofitable customers
  • To meet their needs and get what they want (correct)
  • To form close relationships with companies
  • To increase profits for companies

How do some firms differentiate themselves in the market?

  • By deliberately avoiding unprofitable customers (correct)
  • By targeting all customers equally
  • By forming close relationships with customers
  • By ignoring customer preferences

What is the importance of combining historical data with other information for companies?

<p>To predict customer behavior and choices (A)</p> Signup and view all the answers

In customer segmentation, why is it crucial to focus on selling efforts on current customers?

<p>To understand what they really want and build close relationships (C)</p> Signup and view all the answers

What is the essence of the one-to-one marketing approach?

<p>Forming close, personal relationships with best customers (D)</p> Signup and view all the answers

What is the main difference between target marketing and mass marketing?

<p>Differentiated marketing aims at one type of customer, while undifferentiated marketing targets all customers. (B)</p> Signup and view all the answers

How can segmenting and targeting markets benefit a business?

<p>By helping enlarge the customer base and adjust marketing strategies effectively. (C)</p> Signup and view all the answers

How can the use of loyalty cards help in market segmentation?

<p>By providing information on consumer buying behavior. (D)</p> Signup and view all the answers

What role does technology play in market segmentation?

<p>Technology enables small companies to gather detailed information about potential customers. (A)</p> Signup and view all the answers

Why is avoiding head-on competition important in targeted marketing?

<p>To differentiate the marketing mix for different customer groups. (B)</p> Signup and view all the answers

What is the purpose of market segmentation?

<p>To identify and categorize the overall market into groups of customers with similar needs and wants (D)</p> Signup and view all the answers

How can social media assist in understanding customer needs?

<p>By helping in identifying early adopters of new products. (B)</p> Signup and view all the answers

What does 'Position of Differentiation (POD)' refer to?

<p>A unique aspect of a product that sets it apart from competitors in a way that is valued by customers (A)</p> Signup and view all the answers

Which of the following is not a differentiation strategy?

<p>Price: offering the lowest price in the market (A)</p> Signup and view all the answers

What is the purpose of a tagline for a product?

<p>To clearly communicate the essence of the product to customers (B)</p> Signup and view all the answers

How can differentiation through 'Personnel' impact a company's offering?

<p>By enhancing customer service quality and building strong relationships with customers (D)</p> Signup and view all the answers

Which group of customers are 'Experiencers' according to Vals categories?

<p>Customers who are impulsive, seek variety, and want excitement (A)</p> Signup and view all the answers

What is the main goal of niche marketing?

<p>To target a select group of customers and be a big fish in a small pond (A)</p> Signup and view all the answers

'Segment attractiveness' criteria includes all EXCEPT:

<p>'Growing' - segment should be stagnant, not showing growth potential (C)</p> Signup and view all the answers

'Microtargeting' involves:

<p>Targeting a very select group of customers (B)</p> Signup and view all the answers

What is the significance of having a 'clear point(s) of differentiation' in a product's positioning statement?

<p>It helps communicate how a product stands out from competitors to target customers. (C)</p> Signup and view all the answers

Flashcards are hidden until you start studying

More Like This

Quiz
9 questions

Quiz

DynamicHarmony avatar
DynamicHarmony
Edexcel A Level Business: Meeting Customer Needs
5 questions
Marketing Principles and Customer Needs
37 questions
Marketing Fundamentals
47 questions

Marketing Fundamentals

IntriguingBasilisk1520 avatar
IntriguingBasilisk1520
Use Quizgecko on...
Browser
Mobile App
Open
Browser
Browser