Marketing Segmentation

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What is the primary goal of market segmentation?

To mass produce and mass distribute a single product to all buyers

To develop positioning for each target segment

To create segments that are internally homogeneous and externally heterogeneous (correct)

To identify the target market for a new product

What are the four factors of segmentation variables?

Geographic, demographic, psychographic, and behavioral (correct)

Geographic, demographic, behavioral, and financial

Geographic, demographic, social, and economic

Geographic, behavioral, lifestyle, and nationality

What is mass marketing?

Identifying market segments and selecting targets

Producing two or more products with different features

Developing positioning for each target segment

Mass producing, distributing, and promoting one product to all buyers (correct)

What is the purpose of targeting in market segmentation?

To select which segments to serve and decide on the marketing mix Signup and view all the answers

What are the three steps of market segmentation?

Segmentation, targeting, and positioning Signup and view all the answers

What is the purpose of psychographic segmentation?

To segment based on lifestyle, personality, and social class Signup and view all the answers

What is the result of market segmentation?

Creating segments that are internally homogeneous and externally heterogeneous Signup and view all the answers

What is the primary goal of positioning in marketing?

To differentiate a product from competitors Signup and view all the answers

What is the process of dividing a market into smaller groups based on similar needs or characteristics?

Market segmentation Signup and view all the answers

What is the term for the process of selecting the most lucrative market segments?

Market targeting Signup and view all the answers

What type of segmentation is used to target urban areas for energy drinks and rural areas for natural juices?

Geographic segmentation Signup and view all the answers

What type of segmentation is used to target young adults for trendy clothing and baby boomers for classic styles?

Demographic segmentation Signup and view all the answers

What is the purpose of a marketing plan?

To detail the current situation concerning customers, competitors, and the external environment Signup and view all the answers

What is the term for the process of creating a distinct image or identity for a product in the minds of consumers?

Market positioning Signup and view all the answers

What type of segmentation is used to target frequent gym-goers with premium equipment and occasional exercisers with affordable home workout solutions?

Behavioral segmentation Signup and view all the answers

What is the main purpose of segmentation in marketing?

To divide a market into distinct groups with similar needs and characteristics Signup and view all the answers

What is the next step in the marketing process after segmentation?

Targeting Signup and view all the answers

What makes a good segmentation?

It should be measurable, accessible, and substantial Signup and view all the answers

What is positioning in the context of marketing?

Creating a distinct image or identity for a product Signup and view all the answers

What is the ultimate goal of segmentation, targeting, and positioning in marketing?

To enhance brand building efforts and market penetration Signup and view all the answers

What is the role of cultural dimensions in marketing?

To tailor distribution strategies to effectively reach and engage with consumers Signup and view all the answers

What is the main characteristic of indulgent cultures in terms of distribution strategies?

Involve wider availability and accessibility of products Signup and view all the answers

What is the main characteristic of uncertainty-avoidant cultures in terms of distribution strategies?

Intensive distribution strategies with clear guidelines and guarantees Signup and view all the answers