Module 4: Market Segmentation and Targeting
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Questions and Answers

What does the second stage of the target marketing process involve?

  • Evaluating potential segments
  • Selecting target markets
  • Profile segment analysis (correct)
  • Market targeting assessment

    • Which of the following is NOT a criterion for effective segmentation?

  • Profitability (correct)
  • Substantiality
  • Measurability
  • Accessibility

    • What is essential to understand when considering market targeting?

  • Competitors and their market share (correct)
  • The company's profit margins
  • Potential sales in each segment
  • Cost structure of the company

    • What is a key aspect considered when evaluating potential segments?

    <p>SWOT analysis</p> Signup and view all the answers

    Why is it important to estimate market potential in each target market?

    <p>To determine sales volumes</p> Signup and view all the answers

    What is the main focus when selecting target markets according to the text?

    <p>Segment selection</p> Signup and view all the answers

    'No company can satisfy everything' refers to what concept in marketing?

    <p>'Mass customization' model</p> Signup and view all the answers

    What does the term SWOT stand for in marketing?

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

    Which factor is NOT typically used to describe segment profiles?

    <p>Market share</p> Signup and view all the answers

    When estimating market potential in target markets, what is the primary consideration?

    <p>Sales volume</p> Signup and view all the answers

    What is the primary focus when re-positioning brands as marketers?

    <p>Understanding competitors and target segments</p> Signup and view all the answers

    In the context of market positioning, what does selecting particular market segments signify?

    <p>Referring to segments rather than mass markets</p> Signup and view all the answers

    When evaluating potential segments, what is a key consideration regarding SWOT analysis?

    <p>Analyzing sales potential</p> Signup and view all the answers

    What is an important factor to consider for sustainable profitability when selecting target markets?

    <p>Market accessibility</p> Signup and view all the answers

    In the process of re-positioning brands, why is it essential to understand segment profiles?

    <p>To ensure substantiality of the segments</p> Signup and view all the answers

    What type of variables are used in market segmentation to define meaningful segments?

    <p>Demographic</p> Signup and view all the answers

    In segmenting business markets, which type of market segmentation variables are considered less relevant?

    <p>Demographic</p> Signup and view all the answers

    What does the term 'Geodemographics' refer to in the context of market segmentation?

    <p>Geographical demographics</p> Signup and view all the answers

    When selecting target markets, which factor is of primary importance according to the text?

    <p>Industry relevance</p> Signup and view all the answers

    Which of the following is a common behavioural variable used in market segmentation?

    <p>Price sensitivity</p> Signup and view all the answers

    What is the primary focus when re-positioning brands as marketers?

    <p>Identifying and understanding potential customer needs</p> Signup and view all the answers

    Why is it crucial to effectively position brands in the market?

    <p>To differentiate from competitors and attract target customers</p> Signup and view all the answers

    When selecting target markets, what is a key consideration for marketers?

    <p>Balancing specific customer needs and production costs</p> Signup and view all the answers

    What is a crucial aspect to evaluate when assessing potential market segments?

    <p>Identifying segments with shared characteristics</p> Signup and view all the answers

    In the context of market positioning, what is the significance of understanding consumer needs?

    <p>Creating brand messages that resonate with target customers</p> Signup and view all the answers

    What is the primary purpose of market positioning according to the text?

    <p>To understand how customers perceive the organization's offer relative to competitors</p> Signup and view all the answers

    When determining appropriate positioning for products, what common technique is often used?

    <p>Conceptual mapping</p> Signup and view all the answers

    What does the analysis of current positioning involve?

    <p>Establishing current positioning based on market research</p> Signup and view all the answers

    Which factor is crucial when considering re-positioning a brand?

    <p>Aligning marketing mix with desired positioning</p> Signup and view all the answers

    Why is understanding customer perception essential in market positioning?

    <p>To know how customers perceive the organization compared to competitors</p> Signup and view all the answers

    What is the primary focus when re-positioning brands as marketers?

    <p>To assess current brand positioning and develop a new positioning strategy.</p> Signup and view all the answers

    Why is it important to estimate market potential in each target market?

    <p>To determine the attractiveness of different market segments and allocate resources effectively.</p> Signup and view all the answers

    What does selecting particular market segments signify in the context of market positioning?

    <p>It indicates the focus of marketing efforts and resource allocation.</p> Signup and view all the answers

    What is a crucial aspect to evaluate when assessing potential market segments?

    <p>The compatibility of the segment with the company's objectives and resources.</p> Signup and view all the answers

    What type of variables are used in market segmentation to define meaningful segments?

    <p>Demographic, psychographic, behavioral, and geographic variables.</p> Signup and view all the answers

    What are the four broad categories of variables used in market segmentation to define meaningful segments?

    <p>Geographic, Demographic, Psychographic, Behavioral</p> Signup and view all the answers

    Why are customized or one-to-one segmentation strategies considered best suited for business markets?

    <p>Business markets are characterized by small numbers of buyers with close relationships with sellers, making personalized approaches more effective.</p> Signup and view all the answers

    What is the primary focus of re-positioning brands as marketers?

    <p>The primary focus is to change the way consumers perceive the brand in relation to competitors.</p> Signup and view all the answers

    When evaluating potential market segments, what is a key consideration regarding SWOT analysis?

    <p>A key consideration is to assess the strengths, weaknesses, opportunities, and threats of each segment.</p> Signup and view all the answers

    What is an important factor to consider for sustainable profitability when selecting target markets?

    <p>Ensuring a good fit between the company's offerings and the needs of the chosen target market is crucial for sustainable profitability.</p> Signup and view all the answers

    What are the key criteria for effective segmentation as mentioned in the text?

    <p>Measurability, Accessibility, Substantiality, Practicability</p> Signup and view all the answers

    Describe the process of profiling segments in the target marketing process.

    <p>It involves describing potential customers in a market segment, highlighting common features and differences between segments using a range of segmentation variables.</p> Signup and view all the answers

    What factors are typically examined in the evaluation of potential segments?

    <p>Sales potential, Competitive situation, Cost structure, SWOT analysis</p> Signup and view all the answers

    Why is estimating market potential important when selecting target markets?

    <p>To determine sales volumes and assess if profitability is sustainable.</p> Signup and view all the answers

    What is the primary focus when selecting target markets according to the text?

    <p>Estimating market potential in each segment.</p> Signup and view all the answers

    Why is market research important when determining appropriate positioning for products?

    <p>To understand positioning in the minds of market segments.</p> Signup and view all the answers

    What is the significance of conceptual mapping in determining positioning for products?

    <p>Showing how competing brands relate to each other in terms of attributes.</p> Signup and view all the answers

    How can marketers ensure the marketing mix for each segment is sustainable long-term?

    <p>By ensuring it is consistent with desired positioning and internally consistent.</p> Signup and view all the answers

    When evaluating potential segments, what is a key consideration regarding SWOT analysis?

    <p>Identifying internal strengths and weaknesses as well as external opportunities and threats.</p> Signup and view all the answers

    Why is understanding customer perception essential in market positioning?

    <p>To determine how customers distinguish the organization and its products from competitors.</p> Signup and view all the answers

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