Podcast
Questions and Answers
What is the primary goal of market segmentation?
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?
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?
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?
What is the purpose of targeting in market segmentation?
What are the three steps of market segmentation?
What are the three steps of market segmentation?
What is the purpose of psychographic segmentation?
What is the purpose of psychographic segmentation?
What is the result of market segmentation?
What is the result of market segmentation?
What is the primary goal of positioning in marketing?
What is the primary goal of positioning in marketing?
What is the process of dividing a market into smaller groups based on similar needs or characteristics?
What is the process of dividing a market into smaller groups based on similar needs or characteristics?
What is the term for the process of selecting the most lucrative market segments?
What is the term for the process of selecting the most lucrative market segments?
What type of segmentation is used to target urban areas for energy drinks and rural areas for natural juices?
What type of segmentation is used to target urban areas for energy drinks and rural areas for natural juices?
What type of segmentation is used to target young adults for trendy clothing and baby boomers for classic styles?
What type of segmentation is used to target young adults for trendy clothing and baby boomers for classic styles?
What is the purpose of a marketing plan?
What is the purpose of a marketing plan?
What is the term for the process of creating a distinct image or identity for a product in the minds of consumers?
What is the term for the process of creating a distinct image or identity for a product in the minds of consumers?
What type of segmentation is used to target frequent gym-goers with premium equipment and occasional exercisers with affordable home workout solutions?
What type of segmentation is used to target frequent gym-goers with premium equipment and occasional exercisers with affordable home workout solutions?
What is the main purpose of segmentation in marketing?
What is the main purpose of segmentation in marketing?
What is the next step in the marketing process after segmentation?
What is the next step in the marketing process after segmentation?
What makes a good segmentation?
What makes a good segmentation?
What is positioning in the context of marketing?
What is positioning in the context of marketing?
What is the ultimate goal of segmentation, targeting, and positioning in marketing?
What is the ultimate goal of segmentation, targeting, and positioning in marketing?
What is the role of cultural dimensions in marketing?
What is the role of cultural dimensions in marketing?
What is the main characteristic of indulgent cultures in terms of distribution strategies?
What is the main characteristic of indulgent cultures in terms of distribution strategies?
What is the main characteristic of uncertainty-avoidant cultures in terms of distribution strategies?
What is the main characteristic of uncertainty-avoidant cultures in terms of distribution strategies?
