1
MBA 706 - Exam 3 comprehensive
questions | FREQUENTLY MOST
TESTED QUESTIONS AND VERIFIED
SOLUTIONS/GET IT 100%
ACCURATE!!
Market Segmentation - ( answers)The process of dividing consumers into groups with similar consumer
characteristics and product needs.
Market Segmentation - ( answers)Allows managers to break the market into small manageable groups,
so that firms can tailor their offerings to satisfy different needs and wants.
Three Marketing Strategies - ( answers)Undifferentiated (Mass Marketing), Differentiated (Product-
Variety), Concentrated (Target)
Undifferentiated (Mass Marketing) - ( answers)Firms sell a single product (with same marketing
approach) to all consumers.
Advantage to Undifferentiated Marketing - ( answers)Economies of scale in production, promotion, and
distribution
Disadvantage to Undifferentiated Marketing - ( answers)Intense competition and more sophisticated
consumers
Example of Undifferentiated Marketing - ( answers)Ford's Model T, Black & Decker
Differentiated (Product-Variety Marketing) - ( answers)Firms provide a wide variety of differentiated
offerings to different segments (sometimes to all consumers).
, 2
Advantage of Differentiated Marketing - ( answers)Greater variety to consumers
Disadvantage of Differentiated Marketing - ( answers)Increased Costs
Example of Differentiated Marketing - ( answers)Coca-Cola
Concentrated (Target) Marketing - ( answers)Firms identify major market segments, and then target a
single segment with a single marketing mix.
Advantage of Concentrated Marketing - ( answers)Concentrated effort to that specific segment; control
cost to appeal only to that primary target segment.
Disadvantage of Concentrated Marketing - ( answers)Possibility of missed opportunities; vulnerable to
competition.
Example of Concentrated Marketing - ( answers)Piano Maker
Multiple Segmentation - ( answers)Firms target different segments with a unique marketing mix for each
segment.
Procedures of Segmentation - ( answers)1. Survey Stage
2. Analysis Stage
3. Profiling Stage
Survey Stage - ( answers)understand consumer motivations, attitudes, and behavior
Analysis Stage - ( answers)identify consumer groups with similar characteristics
MBA 706 - Exam 3 comprehensive
questions | FREQUENTLY MOST
TESTED QUESTIONS AND VERIFIED
SOLUTIONS/GET IT 100%
ACCURATE!!
Market Segmentation - ( answers)The process of dividing consumers into groups with similar consumer
characteristics and product needs.
Market Segmentation - ( answers)Allows managers to break the market into small manageable groups,
so that firms can tailor their offerings to satisfy different needs and wants.
Three Marketing Strategies - ( answers)Undifferentiated (Mass Marketing), Differentiated (Product-
Variety), Concentrated (Target)
Undifferentiated (Mass Marketing) - ( answers)Firms sell a single product (with same marketing
approach) to all consumers.
Advantage to Undifferentiated Marketing - ( answers)Economies of scale in production, promotion, and
distribution
Disadvantage to Undifferentiated Marketing - ( answers)Intense competition and more sophisticated
consumers
Example of Undifferentiated Marketing - ( answers)Ford's Model T, Black & Decker
Differentiated (Product-Variety Marketing) - ( answers)Firms provide a wide variety of differentiated
offerings to different segments (sometimes to all consumers).
, 2
Advantage of Differentiated Marketing - ( answers)Greater variety to consumers
Disadvantage of Differentiated Marketing - ( answers)Increased Costs
Example of Differentiated Marketing - ( answers)Coca-Cola
Concentrated (Target) Marketing - ( answers)Firms identify major market segments, and then target a
single segment with a single marketing mix.
Advantage of Concentrated Marketing - ( answers)Concentrated effort to that specific segment; control
cost to appeal only to that primary target segment.
Disadvantage of Concentrated Marketing - ( answers)Possibility of missed opportunities; vulnerable to
competition.
Example of Concentrated Marketing - ( answers)Piano Maker
Multiple Segmentation - ( answers)Firms target different segments with a unique marketing mix for each
segment.
Procedures of Segmentation - ( answers)1. Survey Stage
2. Analysis Stage
3. Profiling Stage
Survey Stage - ( answers)understand consumer motivations, attitudes, and behavior
Analysis Stage - ( answers)identify consumer groups with similar characteristics
