Market Segmentation Analysis: Identifying Segments and Positioning Strategies

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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?

To predict customer behavior and choices Signup and view all the answers

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

To understand what they really want and build close relationships Signup and view all the answers

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

Forming close, personal relationships with best customers Signup and view all the answers

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

Differentiated marketing aims at one type of customer, while undifferentiated marketing targets all customers. Signup and view all the answers

How can segmenting and targeting markets benefit a business?

By helping enlarge the customer base and adjust marketing strategies effectively. Signup and view all the answers

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

By providing information on consumer buying behavior. Signup and view all the answers

What role does technology play in market segmentation?

Technology enables small companies to gather detailed information about potential customers. Signup and view all the answers

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

To differentiate the marketing mix for different customer groups. Signup and view all the answers

What is the purpose of market segmentation?

To identify and categorize the overall market into groups of customers with similar needs and wants Signup and view all the answers

How can social media assist in understanding customer needs?

By helping in identifying early adopters of new products. Signup and view all the answers

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

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

Which of the following is not a differentiation strategy?

Price: offering the lowest price in the market Signup and view all the answers

What is the purpose of a tagline for a product?

To clearly communicate the essence of the product to customers Signup and view all the answers

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

By enhancing customer service quality and building strong relationships with customers Signup and view all the answers

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

Customers who are impulsive, seek variety, and want excitement Signup and view all the answers

What is the main goal of niche marketing?

To target a select group of customers and be a big fish in a small pond Signup and view all the answers

'Segment attractiveness' criteria includes all EXCEPT:

'Growing' - segment should be stagnant, not showing growth potential Signup and view all the answers

'Microtargeting' involves:

Targeting a very select group of customers Signup and view all the answers

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

It helps communicate how a product stands out from competitors to target customers. Signup and view all the answers