Marketing Strategy: Segmentation, Targeting, and Positioning
18 Questions
2 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is market segmentation?

  • The process of selecting one or more market segments to enter
  • The arrangement for a product to occupy a clear place in the minds of consumers
  • The process of evaluating each market segment's attractiveness
  • The division of a market into distinct groups of buyers with different needs (correct)

Which step sets a product apart from competing products in the minds of target consumers?

  • Market segmentation
  • Market targeting
  • Differentiation (correct)
  • Market positioning

What is market targeting in marketing strategy?

  • Arranging a product to occupy a clear, distinctive place in the minds of consumers
  • Dividing the market into distinct groups of buyers
  • Selecting one or more market segments to enter (correct)
  • Evaluating each market segment's attractiveness

What is market positioning focused on achieving?

<p>Occupying a clear, distinctive place in consumers' minds (C)</p> Signup and view all the answers

Which step involves blending product, price, place, and promotion to achieve desired responses?

<p>Marketing mix (D)</p> Signup and view all the answers

What does 'Return on Marketing Investment' measure?

<p>Net return from a marketing investment divided by marketing costs (A)</p> Signup and view all the answers

What is the main purpose of strategic planning in an organization?

<p>To develop and maintain a strategic fit between the organization’s goals and capabilities (C)</p> Signup and view all the answers

What does the mission statement of an organization define?

<p>The organization’s purpose and what it wants to accomplish (B)</p> Signup and view all the answers

Which company is mentioned as having a complex business portfolio in the text?

<p>Johnson &amp; Johnson (D)</p> Signup and view all the answers

What is portfolio analysis in strategic planning primarily concerned with?

<p>Evaluating the products and businesses that make up the company (C)</p> Signup and view all the answers

Which concept involves identifying and evaluating different segments in the market to target specific customer groups?

<p>Market Segmentation (D)</p> Signup and view all the answers

What does market positioning involve?

<p>Creating a distinct image and identity in the minds of the target market (A)</p> Signup and view all the answers

What is the purpose of analyzing the current business portfolio?

<p>Identify strategic business units (A)</p> Signup and view all the answers

In the context of marketing analysis, what does 'SWOT' stand for?

<p>Strengths, Weaknesses, Opportunities, Threats (A)</p> Signup and view all the answers

What does market segmentation involve?

<p>Identifying different customer groups with specific needs (B)</p> Signup and view all the answers

What is the goal of market targeting?

<p>Selecting which segments to serve and how to position in those segments (C)</p> Signup and view all the answers

How does market positioning help a company?

<p>By creating a distinct image and identity in customers' minds (D)</p> Signup and view all the answers

Which of the following is NOT a component of the marketing mix (7Ps)?

<p>Profitability Review &amp; renew (A)</p> Signup and view all the answers

More Like This

Use Quizgecko on...
Browser
Open
Browser
Browser