Marketing segmentation, targeting, and positioning

Question 1

It is a subdivision or part of an overall market with specific and distinctive characteristics

Answer 1

Market Segment

Question 2

It involves grouping various customers into segments that have common needs or will respond similarly to a marketing action

Answer 2

Market Segmentation

Question 3

It involves finding out that kinds of consumers with different needs exist

Answer 3

Segmentation

Question 4

Criteria must be met in order for segmentation to be useful

Answer 4

1. Substantiality
2. Measurability
3. Accessibility
4. Differentiable
5. Actionable

Question 5

The companies tailor-fit their marketing to the needs and wants of the particular market segment

Answer 5

Market segmentation

Question 6

It is composed of individuals or organizations with the ability and willingness to make purchases to fulfill their needs or wants

Answer 6

Market

Question 7

It means all customers within the segment have similar preferences and characteristics but externally heterogeneous

Answer 7

Internal homogeneity

Question 8

It means segregating markets by region of the country or the world, market size, market density or climate

Answer 8

Geographic segmentation

Question 9

It is normally used for geographic segmentation because of its tremendous effect on residents’ needs and purchasing behavior

Answer 9

Climate

Question 10

It is a market segmentation according to age, race,religion, gender, family size, ethnicity, income, and education

Answer 10

Demographic segmentation

Question 11

This exert substantial influence over family purchases specifically in food

Answer 11

School-age-children

Question 12

Members of this generation were born between 1982 to 2003.

Answer 12

Generation Y

Question 13

Members of this generation were born between 1946 and 1964

Answer 13

Baby boomers

Question 14

It is a popular target of marketers because of their numbers and income levels.

Answer 14

Baby boomers

Question 15

Members of this generation were born between 1965 and 1981

Answer 15

Generation X

Question 16

This group is very family-oriented, well-educated and optimistic

Answer 16

Generation X

Question 17

They are composed of retirees living on modest incomes

Answer 17

Seniors

Question 18

Members of this generation were born beyond 1946

Answer 18

Seniors

Question 19

It is dividing a market into different segments based on gender

Answer 19

Gender segmentation

Question 20

It is dividing a market into different income segments

Answer 20

Income segmentation

Question 21

It influences consumers’ wants and determines their buying power

Answer 21

Income

Question 22

It is a series of stages established through combination of age, marital status and the presence or absence of children

Answer 22

Family life cycle

Question 23

It divides buyers into different segments based on personality, motives, lifestyles, and geodemographic

Answer 23

Psychographic segmentation

Question 24

It mirrors a person’s traits, attitudes, and habits

Answer 24

Personality

Question 25

It is a need that is sufficiently pressing to direct the person to seek satisfaction

Answer 25

Motives

Question 26

It is a person's way of living and describes how an individual spends his time, the importance of things around him, his beliefs and socioeconomic characteristics like income and education

Answer 26

Lifestyle

Question 27

It divides the potential market into neighborhood lifestyles

Answer 27

Geodemographic

Question 28

This manner of segmentation combines geographic, demographic, and lifestyle segmentations

Answer 28

Geodemographic

Question 29

It divides buyers into segments based on their knowledge, attitudes, uses, or responses to a product

Answer 29

Behavioral segmentation

Question 30

It involves breaking a market into segments and then concentrating marketing efforts on one or a few key segments

Answer 30

Market Targeting

Question 31

It is a strategy that uses two or more marketing mixes to target two or more market segments

Answer 31

Multisegment Targeting

Question 32

It is the most sought after target market strategy because it has the potential to generate sales volume, higher profits, larger market share and economies of scale in manufacturing and marketing

Answer 32

Multisegment Targeting

Question 33

It focuses all marketing efforts on a single market segment

Answer 33

Concentrated Targeting strategy

Question 34

It assumes that all members of a market have similar needs that can be met with a single marketing mix

Answer 34

Undifferentiated targeting

Question 35

It occurs when the marketer ignores the apparent segment differences that exist within the market and uses a marketing strategy that is intended to appeal to as many people as possible

Answer 35

Undifferentiated Targeting

Question 36

It is tailoring a product to the specific needs of an individual customer

Answer 36

Customized targeting

Question 37

It is developing a product and brand image in the minds of consumers

Answer 37

Market Positioning

Question 38

It is competing directly with competitors on similar product attributes in the same target markets

Answer 38

Head-to-Head positioning

Question 39

It seeks a less competitive smaller market niche in which to position the brand

Answer 39

Differentiation positioning

Question 40

It is a technique of attempting to determine through graphing how different product brands are perceived by consumers when mapped or compared against two or more product dimensions

Answer 40

Perceptual mapping

Question 41

bases for positioning which a company may use

Answer 41

Attribute Price and quality Use or application Product User Product class Competitor Emotion

Question 42

It is a brief description of the target market as well as a convincing picture of how the company wants that market to perceive the brand

Answer 42

Positioning statement

Question 43

It is a guidepost for the marketing efforts

Answer 43

A good positioning statement

Question 44

It helps maintain focus on the brand and its value proposition while working on market

Answer 44

A good positioning statement

Question 45

Bases of segmenting business markets

Answer 45

Geographical location Company Size Usage rate End-user application Type of buying situation