Market Segmentation Criteria and Target Evaluation Quiz

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When choosing a market-targeting strategy, which factor should NOT be considered?

Competitor's financial performance (correct)

Product life-cycle stage

Company resources

Product variability

Which of the following is NOT a consideration for socially responsible target marketing?

Developing products that are environmentally sustainable (correct)

Marketing controversial or potentially harmful products

Targeting vulnerable or disadvantaged consumers

Marketing efforts directed towards children

In the target market selection process, what is the result of customers' perceptions of a product's attributes relative to those of competing brands?

Perceptual mapping

Product positioning (correct)

Competitive advantage

Product differentiation

Which of the following is NOT a criterion for choosing the right competitive advantage when differentiating and positioning a product?

The advantage is widely available to competitors. Signup and view all the answers

What is the first step in the differentiation and positioning task, according to the text?

Identifying a set of differentiating competitive advantages Signup and view all the answers

What is the purpose of perceptual maps in product positioning?

To analyze product positions based on two primary evaluative criteria Signup and view all the answers

Which of the following is NOT one of the five winning value propositions upon which companies can position their products?

The same for different Signup and view all the answers

What is the recommended format for a positioning statement?

To (target segment and need) our (brand) is (concept) that (point of difference) Signup and view all the answers

Which of the following is NOT a recommended approach for product repositioning?

Modifying the value proposition to target the same market Signup and view all the answers

Which of the following statements about a company's position is NOT true?

A company should never change its position once it has been established. Signup and view all the answers

What is the primary purpose of a value proposition?

To establish the full positioning of a brand, including the mix of benefits Signup and view all the answers

Which of the following is NOT a factor that should be considered when selecting a target market?

Personal preferences of the company's leadership team Signup and view all the answers

Which type of segmentation is based on market variables such as personality, motives, and lifestyle?

Psychographic segmentation Signup and view all the answers

What is benefit segmentation based on?

Benefits that customers seek from the product Signup and view all the answers

In international market segmentation, which factor involves forming segments of consumers with similar needs and buying behavior in different countries?

Intermarket segmentation Signup and view all the answers

What is a common variable used by business marketers to segment their markets that is not typically used in consumer markets?

End use Signup and view all the answers

Which type of segmentation involves dividing a market based on behaviouristic variables like usage rate and benefit sought?

Behavioural segmentation Signup and view all the answers

What do psychographic variables primarily encompass in market segmentation?

Personality, motives, and lifestyle Signup and view all the answers

In business market segmentation, what additional variable might be used by marketers compared to consumer markets?

Brand loyalty Signup and view all the answers

What is the primary reason marketers use multiple segmentation bases?

To enhance the accuracy of reaching the target customers Signup and view all the answers

In market segmentation, why is it important for customer needs for a product to be heterogeneous?

To enable differentiation and customization of products Signup and view all the answers

Which condition is crucial for successful market segmentation?

Guaranteed access to reach all possible market segments Signup and view all the answers

What is the purpose of psychographic segmentation in target marketing?

To consider social class, lifestyle, and personality characteristics Signup and view all the answers

In the context of market segmentation, why is it beneficial for different segments to be comparable in terms of sales potential, costs, and profits?

It allows for efficient allocation of resources and efforts across segments Signup and view all the answers

How does using multiple segmentation bases benefit a company's marketing strategy compared to using only one or a few variables?

It provides a more comprehensive understanding of diverse customer characteristics Signup and view all the answers