Marketing Strategy: Segmentation, Targeting, and Positioning
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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</p> Signup and view all the answers

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

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

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

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

    What is the purpose of analyzing the current business portfolio?

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

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

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

    What does market segmentation involve?

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

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