Podcast
Questions and Answers
Which type of segmentation focuses on the location of potential customers?
Which type of segmentation focuses on the location of potential customers?
- Geographic Segmentation (correct)
- Behavioral Segmentation
- Psychographic Segmentation
- Demographic Segmentation
What is the primary element considered under demographic segmentation?
What is the primary element considered under demographic segmentation?
- Age and gender (correct)
- Consumer loyalty
- Geographic location
- Lifestyle choices
Which targeting strategy involves aiming at a specific market segment with tailored products?
Which targeting strategy involves aiming at a specific market segment with tailored products?
- Concentrated Strategy (correct)
- Differentiated Strategy
- Undifferentiated Strategy
- Micromarketing Strategy
Which segmentation base is characterized by benefits sought by consumers?
Which segmentation base is characterized by benefits sought by consumers?
What is the first step in the segmentation-targeting-positioning process?
What is the first step in the segmentation-targeting-positioning process?
Which of the following is NOT a characteristic of psychographic segmentation?
Which of the following is NOT a characteristic of psychographic segmentation?
What defines an attractive market segment for targeting?
What defines an attractive market segment for targeting?
Which targeting strategy focuses on tailoring marketing efforts to very specific customer needs?
Which targeting strategy focuses on tailoring marketing efforts to very specific customer needs?
What type of employment is highlighted as boosting local economies?
What type of employment is highlighted as boosting local economies?
What average household income is reported in the context?
What average household income is reported in the context?
Which aspect is critical for La Senza when considering a new market segment?
Which aspect is critical for La Senza when considering a new market segment?
What requirement is NOT mentioned for a market segment to be considered by La Senza?
What requirement is NOT mentioned for a market segment to be considered by La Senza?
What is a specified characteristic of households that was mentioned?
What is a specified characteristic of households that was mentioned?
What does 'reachable' mean in the context of evaluating a market segment?
What does 'reachable' mean in the context of evaluating a market segment?
Which of these brands appeals to different target markets as identified?
Which of these brands appeals to different target markets as identified?
Which element is emphasized as necessary for a market segment to be valuable?
Which element is emphasized as necessary for a market segment to be valuable?
What does geodemographic segmentation primarily focus on?
What does geodemographic segmentation primarily focus on?
Which statement best describes the Urban Bohemia cluster?
Which statement best describes the Urban Bohemia cluster?
Which VALS type is characterized by independent thinkers and innovators?
Which VALS type is characterized by independent thinkers and innovators?
What is a key characteristic of the Suburban Affluence cluster?
What is a key characteristic of the Suburban Affluence cluster?
How does the quote 'Birds of a feather flock together' relate to market segmentation?
How does the quote 'Birds of a feather flock together' relate to market segmentation?
What does behavioral segmentation consider when analyzing consumers?
What does behavioral segmentation consider when analyzing consumers?
What is a significant result of using geodemographic segmentation?
What is a significant result of using geodemographic segmentation?
What kind of employment is primarily found in the Urban Bohemia cluster?
What kind of employment is primarily found in the Urban Bohemia cluster?
What is the primary basis for demographic segmentation?
What is the primary basis for demographic segmentation?
Which of the following is NOT considered an aspect of psychographic segmentation?
Which of the following is NOT considered an aspect of psychographic segmentation?
Which VALS category is characterized by being goal-oriented and respecting authority?
Which VALS category is characterized by being goal-oriented and respecting authority?
What motivates Innovators in the VALS framework?
What motivates Innovators in the VALS framework?
Which psychographic characteristic defines consumers who are loyal to familiar products and brands?
Which psychographic characteristic defines consumers who are loyal to familiar products and brands?
What is a major trait of Experiencers according to the VALS framework?
What is a major trait of Experiencers according to the VALS framework?
What is a distinguishing feature of Strivers in the VALS categories?
What is a distinguishing feature of Strivers in the VALS categories?
What characteristic best describes Survivors in the VALS framework?
What characteristic best describes Survivors in the VALS framework?
Which source is noted as excellent for obtaining data for market segmentation?
Which source is noted as excellent for obtaining data for market segmentation?
Which category of VALS contains individuals who are practical and have strong mechanical skills?
Which category of VALS contains individuals who are practical and have strong mechanical skills?
Study Notes
Segmentation, Targeting, and Positioning
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Marketers use segmentation, targeting, and positioning to effectively reach specific consumer groups.
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This process helps build a clear understanding of a company's target audience and their needs.
Segmentation Bases
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Geographic segmentation divides markets into different geographic units like continents, countries, regions, and cities.
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Demographic segmentation groups consumers based on characteristics like age, gender, income, education, occupation, and family size.
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Psychographic segmentation focuses on psychological aspects such as lifestyle, personality, and self-concept. This includes categories like VALS (Values and Lifestyles) which categorize consumers into groups like Innovators, Thinkers, Achievers, Experiencers, Believers, Strivers, Makers, and Survivors.
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Behavioural segmentation looks at consumer behavior, such as usage rates, benefits sought, and loyalty to brands. This includes factors like occasion, usage rate, and benefits sought.
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Geodemographic segmentation combines geographic, demographic, and psychographic characteristics to create detailed profiles of specific consumer groups. Examples include the PSYTE clusters from Pitney Bowes.
Evaluating Segment Attractiveness
- Identifiable refers to the ability to clearly define and identify a targeted segment.
- Reachable means effectively communicating with and reaching the identified segment.
- Responsive means the segment should react to marketing efforts with positive outcomes, like purchase behavior.
- Substantial means the segment should be large enough to be profitable, with sufficient buying power.
- Profitable means the segment should provide positive financial returns to the company.
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Description
This quiz explores the essential concepts of segmentation, targeting, and positioning in marketing. Learn about various segmentation bases, including geographic, demographic, psychographic, and behavioral segments, to effectively reach your target audience. Test your knowledge on how these strategies can shape marketing efforts.
