Lesson 7: Market Segmentation, Targeting, and Positioning

Question 1

a group of people to whom a company intends to sell its products and services.

Answer 1

target market

Question 2

This group of consumers is the primary recipient of the company’s marketing efforts.

Answer 2

target market

Question 3

Identifying the target market helps the company

Answer 3

maximize its marketing resources and efforts to attract and retain a loyal group of customers

Question 4

stages in target marketing

Answer 4

market segmentation → market targeting → positioning

Question 5

It refers to the process of dividing consumer markets into smaller groups of consumers.

Answer 5

market segmentation

Question 6

Marketers aim to focus on the

Answer 6

specific needs of these consumer groups

Question 7

Is a strategy used by businesses to divide a heterogeneous market into smaller, more homogeneous segments.

Answer 7

market segmentation

Question 8

variables in market segmentation

Answer 8

demographic, geographic, psychographic, behavioristic,

Question 9

The companies look at the basic statistical characteristics of consumers.

Answer 9

demographic variable

Question 10

what are included in the demographic variable

Answer 10

age; life cycle stage; gender; income; religion, race, and nationality

Question 11

Used for dividing consumer markets according to the physical features of a certain area and other related characteristics.

Answer 11

geographic variables

Question 12

what are included in the geographic variables

Answer 12

climate and population size

Question 13

This includes lifestyle patterns, hobbies and interests, beliefs, and personalities of consumers.

Answer 13

psychographic variables

Question 14

what are included in psychographic variables

Answer 14

lifestyle patterns; hobbies and interests; opinions and beliefs; personality

Question 15

Dividing consumer markets according to the product usage of consumers and their attitude towards the brand.

Answer 15

behavioristic variables

Question 16

what are included in behavioristic variables

Answer 16

loyalty, special occasions, benefits

Question 17

customers patronize or regularly purchase this single brand.

Answer 17

loyalty

Question 18

3 types of consumer loyalty

Answer 18

hard-core loyals; soft core loyals; switchers

Question 19

Regularly buy the Brand

Answer 19

hard core loyals

Question 20

Sometimes patronize another brand

Answer 20

soft core loyals

Question 21

refuse to be loyal to a specific brand and will buy whichever is available.

Answer 21

switchers

Question 22

WHAT TYPE OF VARIABLE

For younger consumers concerned with acne prevention, they create a line of oil-free cleansers, acne treatments, and mattifying moisturizers.

Answer 22

demographic variable - age

Question 23

WHAT TYPE OF VARIABLE

For environmentally conscious consumers, they develop a range of organic, cruelty-free skincare products made with natural ingredients.

Answer 23

demographic variable - income

Question 23

WHAT TYPE OF VARIABLE

For price-sensitive consumers, they introduce a budget-friendly line of basic skincare essentials.

Answer 23

demographic variable - income

Question 24

WHAT TYPE OF VARIABLE

For prestige-seeking consumers, they launch a luxury line featuring high-end serums and creams with advanced formulations.

Answer 24

psychographic variable

Question 25

what does the company do in market targeting

Answer 25

examines the market segment’s potential as an actual target market and whether it has the resources to cater to it

Question 25

It refers to the process of evaluating and selecting specific segments of the market to focus on with marketing efforts, product development, and distribution strategies.

Answer 25

market targeting

Question 26

types of market targeting strategies

Answer 26

undifferentiated marketing, differentiated marketing, concentrated marketing

Question 27

undifferentiated marketing is also known as

Answer 27

mass marketing

Question 28

They perform this type of market targeting where they tend to sell a wide variety of products or products with highly generalized features.

Answer 28

undifferentiated marketing

Question 29

differentiated marketing is also known as

Answer 29

segment marketing

Question 30

This strategies make sure that their products cater to the needs of particular segments in consumer markets.

Answer 30

differentiated marketing

Question 31

concentrated marketing is also known as

Answer 31

niche marketing/specific segment

Question 32

Products or services sold through this type of market targeting often have highly specific features.

Answer 32

concentrated marketing

Question 33

Products or services must now create a favorable impression on the consumers’ minds.

Answer 33

market positioning

Question 34

when do companies perform market positioning

Answer 34

usability of the product/service, features that distinguish it from other brands

Question 35

types of market positioning strategies

Answer 35

features-based, use-based, user-based, head-on competitive, lifestyle positioning

Question 36

Marketers sell their brands based on their features.

Answer 36

features-based positioning

Question 37

Marketers sell their products or services based on their possible uses or the types of circumstances when they can be used.

Answer 37

use-based positioning

Question 38

Marketers advertise their products based on the type of consumer who can benefit from the product.

Answer 38

user-based positioning

Question 39

Is used by market challengers or the “Number Two” brands in the market.

Answer 39

heads-on competitive positioning

Question 40

Marketers sell their products or services according to the cultural practices or values that their target market/s subscribe to.

Answer 40

lifestyle positioning