Module 4: Market Segmentation and Targeting

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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?

SWOT analysis Signup and view all the answers

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

To determine sales volumes Signup and view all the answers

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

Segment selection Signup and view all the answers

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

'Mass customization' model Signup and view all the answers

What does the term SWOT stand for in marketing?

Strengths, Weaknesses, Opportunities, Threats Signup and view all the answers

Which factor is NOT typically used to describe segment profiles?

Market share Signup and view all the answers

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

Sales volume Signup and view all the answers

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

Understanding competitors and target segments Signup and view all the answers

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

Referring to segments rather than mass markets Signup and view all the answers

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

Analyzing sales potential Signup and view all the answers

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

Market accessibility Signup and view all the answers

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

To ensure substantiality of the segments Signup and view all the answers

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

Demographic Signup and view all the answers

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

Demographic Signup and view all the answers

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

Geographical demographics Signup and view all the answers

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

Industry relevance Signup and view all the answers

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

Price sensitivity Signup and view all the answers

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

Identifying and understanding potential customer needs Signup and view all the answers

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

To differentiate from competitors and attract target customers Signup and view all the answers

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

Balancing specific customer needs and production costs Signup and view all the answers

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

Identifying segments with shared characteristics Signup and view all the answers

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

Creating brand messages that resonate with target customers Signup and view all the answers

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

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

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

Conceptual mapping Signup and view all the answers

What does the analysis of current positioning involve?

Establishing current positioning based on market research Signup and view all the answers

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

Aligning marketing mix with desired positioning Signup and view all the answers

Why is understanding customer perception essential in market positioning?

To know how customers perceive the organization compared to competitors Signup and view all the answers

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

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

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

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

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

It indicates the focus of marketing efforts and resource allocation. Signup and view all the answers

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

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

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

Demographic, psychographic, behavioral, and geographic variables. Signup and view all the answers

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

Geographic, Demographic, Psychographic, Behavioral Signup and view all the answers

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

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

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

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

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

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

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

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

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

Measurability, Accessibility, Substantiality, Practicability Signup and view all the answers

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

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

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

Sales potential, Competitive situation, Cost structure, SWOT analysis Signup and view all the answers

Why is estimating market potential important when selecting target markets?

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

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

Estimating market potential in each segment. Signup and view all the answers

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

To understand positioning in the minds of market segments. Signup and view all the answers

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

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

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

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

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

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

Why is understanding customer perception essential in market positioning?

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

Module 4: Market Segmentation and Targeting

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Questions and Answers

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

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

What is essential to understand when considering market targeting?

What is a key aspect considered when evaluating potential segments?

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

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

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

What does the term SWOT stand for in marketing?

Which factor is NOT typically used to describe segment profiles?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

What does the analysis of current positioning involve?

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

Why is understanding customer perception essential in market positioning?

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

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

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

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

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

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

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

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

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

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

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

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

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

Why is estimating market potential important when selecting target markets?

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

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

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

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

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

Why is understanding customer perception essential in market positioning?

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