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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?

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

What is a strength in a SWOT analysis?

An internal factor that provides a competitive advantage Signup and view all the answers

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

Structural segmentation Signup and view all the answers

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

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

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

Behavioral segmentation Signup and view all the answers

Which of the following is an example of psychographic segmentation?

Dividing customers based on social class or lifestyle Signup and view all the answers

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

How can we best serve these customers? Signup and view all the answers