MKT 3401 Module 5 Questions with Correct Answers (Grade A+)
Question 1: moodle essays
Answer: moodle essays
Question 2: _________________________ examines the best way for companies to position products
and brands for the future. It is the plan for what a company wants to do and how they will actually
accomplish their goals of discovering and persuading customers. The three important parts are
segmentation, targeting, and positioning.
Answer: Strategy Development
Question 3: The first part of Strategy Development is _____________________ which is the process of
partitioning markets into segments of potential customers with similar characteristics, needs, or
behaviors.
Answer: Segmentation
Question 4: companies segment markets for three reasons:
Answer: First, segmentation helps companies identify different groups who have similar needs so they can
analyze the different characteristics or buying behaviors of the customers in the group. Secondly,
segmentation helps a company gain information so they can decide how to use product, price, place, and
promotion to appeal to desires of a particular segment. Third, segmentation must stay consistent with the
idea of satisfying the customers' needs and wants while also achieving company goals and objectives.
Question 5: companies can segment according to ____________________ ________________ or
_____________. These three ways to segment help describe the consumer and proves valuable as
companies decide what segment has the most potential.
Answer: demographics, geographic or lifestyles
Question 6: To help ensure that companies are making good decisions, they should consider the four
criteria for successful segmentation to occur:
Answer: identifiable, accessibility, responsiveness, and substantiality.
Question 7: The first criteria is _______________. Companies need to gather the proper data in order
to help identify their possible markets. Their research can reveal insightful information on the
demographic makeup of the population such as age, gender, ethnicity, income, and education. It can
also provide research into the family life cycle which can include the age of family members, marital
status, and whether or not there are children.
Answer: identifiable
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, Question 8: reaserch on identfiable can reveal information on the demographic makeup of the
population such as ____________ (5) __________. It can also provide research into the family life cycle
which can include the age of family members, marital status, and whether or not there are children.
Answer: age, gender, ethnicity, income, and education
Question 9: identifiable research can discover geographic information such as ____________(4)
___________
Answer: country, region, area, or market size
Question 10: identifiable Data can also provide insights into psychographic information such as
_________________(4)______________
Answer: personality, motives, lifestyles, and other social factors.
Question 11: _____________________ information is crucial in determining whether or not a particular
population will prove valuable for a company to target.
Answer: identifiable
Question 12: The second criteria is __________________. A company must be able to effectively reach a
certain segment they have identified. Is the company able to reach this group with the proper
advertising message in a way that captures their interest and persuades them to seek out the product?
Answer: accessibility
Question 13: this is an example of? For example, if a company sells snack foods, they are responsible
for delivering these products to large grocery stores in big cities. But they must also be able to travel to
faraway convenience stores in small areas to keep the shelves full for customers.
Answer: accessibility
Question 14: this is an example of? One of the key reasons for e-commerce's success is because of the
efficiency of the companies in delivering products to the doorsteps of consumers in a speedy and
reliable way. Companies are learning this type of accessibility will lead to improved success and more
positive customer experience.
Answer: accessibility in the e commerce industry
Page 2
Question 1: moodle essays
Answer: moodle essays
Question 2: _________________________ examines the best way for companies to position products
and brands for the future. It is the plan for what a company wants to do and how they will actually
accomplish their goals of discovering and persuading customers. The three important parts are
segmentation, targeting, and positioning.
Answer: Strategy Development
Question 3: The first part of Strategy Development is _____________________ which is the process of
partitioning markets into segments of potential customers with similar characteristics, needs, or
behaviors.
Answer: Segmentation
Question 4: companies segment markets for three reasons:
Answer: First, segmentation helps companies identify different groups who have similar needs so they can
analyze the different characteristics or buying behaviors of the customers in the group. Secondly,
segmentation helps a company gain information so they can decide how to use product, price, place, and
promotion to appeal to desires of a particular segment. Third, segmentation must stay consistent with the
idea of satisfying the customers' needs and wants while also achieving company goals and objectives.
Question 5: companies can segment according to ____________________ ________________ or
_____________. These three ways to segment help describe the consumer and proves valuable as
companies decide what segment has the most potential.
Answer: demographics, geographic or lifestyles
Question 6: To help ensure that companies are making good decisions, they should consider the four
criteria for successful segmentation to occur:
Answer: identifiable, accessibility, responsiveness, and substantiality.
Question 7: The first criteria is _______________. Companies need to gather the proper data in order
to help identify their possible markets. Their research can reveal insightful information on the
demographic makeup of the population such as age, gender, ethnicity, income, and education. It can
also provide research into the family life cycle which can include the age of family members, marital
status, and whether or not there are children.
Answer: identifiable
Page 1
, Question 8: reaserch on identfiable can reveal information on the demographic makeup of the
population such as ____________ (5) __________. It can also provide research into the family life cycle
which can include the age of family members, marital status, and whether or not there are children.
Answer: age, gender, ethnicity, income, and education
Question 9: identifiable research can discover geographic information such as ____________(4)
___________
Answer: country, region, area, or market size
Question 10: identifiable Data can also provide insights into psychographic information such as
_________________(4)______________
Answer: personality, motives, lifestyles, and other social factors.
Question 11: _____________________ information is crucial in determining whether or not a particular
population will prove valuable for a company to target.
Answer: identifiable
Question 12: The second criteria is __________________. A company must be able to effectively reach a
certain segment they have identified. Is the company able to reach this group with the proper
advertising message in a way that captures their interest and persuades them to seek out the product?
Answer: accessibility
Question 13: this is an example of? For example, if a company sells snack foods, they are responsible
for delivering these products to large grocery stores in big cities. But they must also be able to travel to
faraway convenience stores in small areas to keep the shelves full for customers.
Answer: accessibility
Question 14: this is an example of? One of the key reasons for e-commerce's success is because of the
efficiency of the companies in delivering products to the doorsteps of consumers in a speedy and
reliable way. Companies are learning this type of accessibility will lead to improved success and more
positive customer experience.
Answer: accessibility in the e commerce industry
Page 2
