MBA 706 Koksal Test 2 answers
Market Segmentation✔✔Usually one product/marketing approach does not appeal
to all customers
Market Segmentation✔✔Market needs to be strategically divided into groups
consisting of consumers with similar wants and needs.
Market Segmentation✔✔Process of dividing consumers into groups with similar
wants and needs.
Undifferentiated marketing✔✔Instead of segmentation, company targets all
consumers with a single offering.
Differentiated marketing✔✔Company targets different segments using different
marketing mixes.
Concentrated marketing✔✔Company targets a single segment
Measurable✔✔Data should be available to evaluate the attractiveness of
segmentation.
Accessible✔✔Segment should be accessible to the company
Substantial✔✔Segment should be large and valuable.
Unique✔✔Segment should be distinguishable from other segments.
Appropriate✔✔Characteristics of the segment should not contradict the resources of
the objectives of the company.
Stable✔✔Company should be able to predict the behavior of the segment in the
future.
Geographic✔✔One of the easier methods of segmentation. Markets are divided into
groups based on geography.
Geodemographic✔✔Combines geographic and demographic factors.
Demographic✔✔Markets are divided into groups using variables. Age, sex, income,
education, etc.
Behavioral✔✔Markets are divided into groups based on measures such as attitudes,
knowledge, loyalty, benefits sought, etc.
, Benefit segmentation✔✔Segmenting consumers based on what benefits they seek.
Shoe manufacturer may segment its market as those who seek style and those who
seek quality.
User status✔✔segmenting consumers based on their status.
Loyalty status✔✔Consumers are segmented based on their devotion to the brand.
Psychographic and lifestyle✔✔Segmenting markets based on personalities, values,
lifestyle, etc.
Market Targeting✔✔Size and growth potential of the segments. This varies based on
the company
Market Targeting✔✔Attractiveness of the segments (use Porter's Five Forces to
measure attractiveness)
Market Targeting✔✔Segment should match company objectives and company
should have necessary resources.
Single Segment Concentration✔✔Company focuses on a single segment, might be
risky.
Selective Specialization✔✔Company focuses on several segments, reduces the risk
associated.
Product Specialization✔✔Company specializes in a particular product type and
markets it to different segments.
Market specialization✔✔Company focuses on a segment and satisfies its needs with
various products.
Full Market Coverage✔✔Company targets most or all segments with all the products
they need.
Breadth of Market Coverage✔✔Coverage approach to be selected depends on a
company's current strategy, resources, and capabilities.
Product Positioning✔✔What place does the product occupy in the market?
Product Positioning✔✔How is the product different from actual and potential
competitors?
Positioning✔✔Designing an image based on range, performance, prices,
advertising, customers, etc. Has direct implications for the marketing mix.
Market Segmentation✔✔Usually one product/marketing approach does not appeal
to all customers
Market Segmentation✔✔Market needs to be strategically divided into groups
consisting of consumers with similar wants and needs.
Market Segmentation✔✔Process of dividing consumers into groups with similar
wants and needs.
Undifferentiated marketing✔✔Instead of segmentation, company targets all
consumers with a single offering.
Differentiated marketing✔✔Company targets different segments using different
marketing mixes.
Concentrated marketing✔✔Company targets a single segment
Measurable✔✔Data should be available to evaluate the attractiveness of
segmentation.
Accessible✔✔Segment should be accessible to the company
Substantial✔✔Segment should be large and valuable.
Unique✔✔Segment should be distinguishable from other segments.
Appropriate✔✔Characteristics of the segment should not contradict the resources of
the objectives of the company.
Stable✔✔Company should be able to predict the behavior of the segment in the
future.
Geographic✔✔One of the easier methods of segmentation. Markets are divided into
groups based on geography.
Geodemographic✔✔Combines geographic and demographic factors.
Demographic✔✔Markets are divided into groups using variables. Age, sex, income,
education, etc.
Behavioral✔✔Markets are divided into groups based on measures such as attitudes,
knowledge, loyalty, benefits sought, etc.
, Benefit segmentation✔✔Segmenting consumers based on what benefits they seek.
Shoe manufacturer may segment its market as those who seek style and those who
seek quality.
User status✔✔segmenting consumers based on their status.
Loyalty status✔✔Consumers are segmented based on their devotion to the brand.
Psychographic and lifestyle✔✔Segmenting markets based on personalities, values,
lifestyle, etc.
Market Targeting✔✔Size and growth potential of the segments. This varies based on
the company
Market Targeting✔✔Attractiveness of the segments (use Porter's Five Forces to
measure attractiveness)
Market Targeting✔✔Segment should match company objectives and company
should have necessary resources.
Single Segment Concentration✔✔Company focuses on a single segment, might be
risky.
Selective Specialization✔✔Company focuses on several segments, reduces the risk
associated.
Product Specialization✔✔Company specializes in a particular product type and
markets it to different segments.
Market specialization✔✔Company focuses on a segment and satisfies its needs with
various products.
Full Market Coverage✔✔Company targets most or all segments with all the products
they need.
Breadth of Market Coverage✔✔Coverage approach to be selected depends on a
company's current strategy, resources, and capabilities.
Product Positioning✔✔What place does the product occupy in the market?
Product Positioning✔✔How is the product different from actual and potential
competitors?
Positioning✔✔Designing an image based on range, performance, prices,
advertising, customers, etc. Has direct implications for the marketing mix.
