Marketing midterm
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Marketing midterm

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Questions and Answers

What is market segmentation?

  • Dividing the market into different geographical units
  • Grouping consumers based on their loyalty to the brand
  • Dividing the market into distinct groups with distinct needs or behaviors (correct)
  • All of the above

    • The Boston Consulting Group (BCG) matrix classifies a company’s SBUs based on:

  • Demographic segmentation
  • Market growth rate and relative market share (correct)
  • Customer satisfaction
  • Geographic location

    • Which of the following is NOT a macroenvironment force?

  • Technological
  • Economic
  • Suppliers (correct)
  • Cultural

    • What does "positioning" refer to in marketing?

    <p>Arranging for a market offering to occupy a clear place in the mind of consumers</p> Signup and view all the answers

    What is a strength in a SWOT analysis?

    <p>An internal factor that provides a competitive advantage</p> Signup and view all the answers

    Which of the following is NOT a type of market segmentation?

    <p>Structural segmentation</p> Signup and view all the answers

    What is the purpose of a mission statement in strategic planning?

    <p>To define the company’s purpose and guide decision-making</p> Signup and view all the answers

    Which market segmentation divides buyers based on occasions, benefits sought, or usage rate?

    <p>Behavioral segmentation</p> Signup and view all the answers

    Which of the following is an example of psychographic segmentation?

    <p>Dividing customers based on social class or lifestyle</p> Signup and view all the answers

    Which of the following is a question that must be answered in a customer-driven marketing strategy?

    <p>How can we best serve these customers?</p> Signup and view all the answers

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