MBA 706 KOKSAL TEST 2 QUESTIONS
& ANSWERS(RATED A+)
Market Segmentation - ANSWERUsually one product/marketing approach does not
appeal to all customers
Market Segmentation - ANSWERMarket needs to be strategically divided into groups
consisting of consumers with similar wants and needs.
Stable - ANSWERCompany should be able to predict the behavior of the segment in
the future.
Geographic - ANSWEROne of the easier methods of segmentation. Markets are
divided into groups based on geography.
Geodemographic - ANSWERCombines geographic and demographic factors.
Demographic - ANSWERMarkets are divided into groups using variables. Age, sex,
income, education, etc.
Market Segmentation - ANSWERProcess of dividing consumers into groups with
similar wants and needs.
Undifferentiated marketing - ANSWERInstead of segmentation, company targets all
consumers with a single offering.
Differentiated marketing - ANSWERCompany targets different segments using
different marketing mixes.
Concentrated marketing - ANSWERCompany targets a single segment
Measurable - ANSWERData should be available to evaluate the attractiveness of
segmentation.
Accessible - ANSWERSegment should be accessible to the company
Substantial - ANSWERSegment should be large and valuable.
Unique - ANSWERSegment should be distinguishable from other segments.
Appropriate - ANSWERCharacteristics of the segment should not contradict the
resources of the objectives of the company.
Behavioral - ANSWERMarkets are divided into groups based on measures such as
attitudes, knowledge, loyalty, benefits sought, etc.
, Benefit segmentation - ANSWERSegmenting 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 - ANSWERsegmenting consumers based on their status.
Loyalty status - ANSWERConsumers are segmented based on their devotion to the
brand.
Psychographic and lifestyle - ANSWERSegmenting markets based on personalities,
values, lifestyle, etc.
Market Targeting - ANSWERSize and growth potential of the segments. This varies
based on the company
Market Targeting - ANSWERAttractiveness of the segments (use Porter's Five
Forces to measure attractiveness)
Market Targeting - ANSWERSegment should match company objectives and
company should have necessary resources.
Single Segment Concentration - ANSWERCompany focuses on a single segment,
might be risky.
Marketing Mix - ANSWERProduct, Price, Promotion, Place.
Physical Evidence - ANSWERTangible components that facilitate a service.
People - ANSWERFinding, recruiting, and training the right people.
Process management - ANSWERHow to manage the process that delivers a service
to consumers.
Product - ANSWERRefers to physical goods, services, and ideas.
Core benefit - ANSWERCore need/want consumers want to satisfy when purchasing
a product.
Selective Specialization - ANSWERCompany focuses on several segments, reduces
the risk associated.
Product Specialization - ANSWERCompany specializes in a particular product type
and markets it to different segments.
Market specialization - ANSWERCompany focuses on a segment and satisfies its
needs with various products.
Full Market Coverage - ANSWERCompany targets most or all segments with all the
products they need.
& ANSWERS(RATED A+)
Market Segmentation - ANSWERUsually one product/marketing approach does not
appeal to all customers
Market Segmentation - ANSWERMarket needs to be strategically divided into groups
consisting of consumers with similar wants and needs.
Stable - ANSWERCompany should be able to predict the behavior of the segment in
the future.
Geographic - ANSWEROne of the easier methods of segmentation. Markets are
divided into groups based on geography.
Geodemographic - ANSWERCombines geographic and demographic factors.
Demographic - ANSWERMarkets are divided into groups using variables. Age, sex,
income, education, etc.
Market Segmentation - ANSWERProcess of dividing consumers into groups with
similar wants and needs.
Undifferentiated marketing - ANSWERInstead of segmentation, company targets all
consumers with a single offering.
Differentiated marketing - ANSWERCompany targets different segments using
different marketing mixes.
Concentrated marketing - ANSWERCompany targets a single segment
Measurable - ANSWERData should be available to evaluate the attractiveness of
segmentation.
Accessible - ANSWERSegment should be accessible to the company
Substantial - ANSWERSegment should be large and valuable.
Unique - ANSWERSegment should be distinguishable from other segments.
Appropriate - ANSWERCharacteristics of the segment should not contradict the
resources of the objectives of the company.
Behavioral - ANSWERMarkets are divided into groups based on measures such as
attitudes, knowledge, loyalty, benefits sought, etc.
, Benefit segmentation - ANSWERSegmenting 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 - ANSWERsegmenting consumers based on their status.
Loyalty status - ANSWERConsumers are segmented based on their devotion to the
brand.
Psychographic and lifestyle - ANSWERSegmenting markets based on personalities,
values, lifestyle, etc.
Market Targeting - ANSWERSize and growth potential of the segments. This varies
based on the company
Market Targeting - ANSWERAttractiveness of the segments (use Porter's Five
Forces to measure attractiveness)
Market Targeting - ANSWERSegment should match company objectives and
company should have necessary resources.
Single Segment Concentration - ANSWERCompany focuses on a single segment,
might be risky.
Marketing Mix - ANSWERProduct, Price, Promotion, Place.
Physical Evidence - ANSWERTangible components that facilitate a service.
People - ANSWERFinding, recruiting, and training the right people.
Process management - ANSWERHow to manage the process that delivers a service
to consumers.
Product - ANSWERRefers to physical goods, services, and ideas.
Core benefit - ANSWERCore need/want consumers want to satisfy when purchasing
a product.
Selective Specialization - ANSWERCompany focuses on several segments, reduces
the risk associated.
Product Specialization - ANSWERCompany specializes in a particular product type
and markets it to different segments.
Market specialization - ANSWERCompany focuses on a segment and satisfies its
needs with various products.
Full Market Coverage - ANSWERCompany targets most or all segments with all the
products they need.
