BA 303 EXAM 2 PSU
FREQUENTLY ASKED
QUESTIONS WITH VERIFIED
SOLUTIONS 100% CORRECT
2026/2027 STUDY
THREE STEPS IN DEVELOPING SUCCESSFUL MARKETING PLAN
1) DEVELOP CLEAR UNDERSTANDING OF CUSTOMERS
2) DEVELOP A PRODUCT AND MARKETING MIX THAT IS SENSITIVE TO THE DESIRE AND NEEDS
OF CUSTOMERS
3) DEVELOP POSITIONING STRATEGY THAT DIFFERENTIATES PRODUCT FROM COMPETITIVE
ALTERNATIVES
TARGET MARKETING
PROCESS OF CHOOSING A MARKET SEGMENT IN ORDER TO CONCENTRATE MARKETING
EFFORT (SELECTING OF THE SEGMENT AND THESE ARE THE ONES I WANT TO MARKET TO)
MAJORITY FALLACY
MOST MARKERS ARE ATTRACTED TO THE BIGGEST AND MOST LUCRATIVE SEGMENTS
BECAUSE THATS WHERE THE MOST BUSINESS CAN BE DONE... DOWNSIDE IS HAVE THE MOST
COMPETITION
MASS MARKETING
ONE PRODUCT SOLD AIMLESSLY TO ANY AND ALL PROSPECTIVE CUSTOMERS
PRODUCT DIFFERENTIATED MARKETING
,2 OR MORE DIFFERENTIATED FORMS OF THE SAME PRODUCT SOLD AIMLESSLY TO ANY AND
ALL PROSPECTIVE CUSTOMERS
TARGET MARKETING PURPOSE
MARKETER DISTINGUISHES BETWEEN DIFFERENT TYPES OF CUSTOMERS AND THEN CHOOSES
ONE OR A FEW TO CONCENTRATE THEIR EFFORTS. ACTUALLY DEVELOP A MARKETING MIX TO
APPEAL AND CATER TO EACH SPECIFIC SEGMENT CHOSEN
MARKETING SEGMENTS REQUIRE ...
MARKETERS TO LOOK FOR SIMILAR TRAITS THAT WILL ALLOW FOR SUB GROUPING
(MEMBERS OF THE SAME ONE HAVE SAME TENDENCIES IN BUYING TASTES/HABITS)
MARKETING SEGMENTING IS IMPORTANT BECAUSE...
-ENABLES MARKETERS TO IDENTIFY GROUPS OF CUSTOMERS THAT SHARE SIMILAR TASTES,
PREFERENCES AND BUYING BEHAVIOR
-PROVIDES VALUABLE INFO THAT CAN HELP IN THE DEIGN OF EFFECTIVE MARKETING
STRATEGIES
-MAY RESULT IN DISCOVERY OF MARKETING OPPORTUNITIES BY REVEALING VIABLE
SEGMENTS THAT ARE PRESENTLY UNSATISFIED
-FORCES MARKETERS TO LOOK AT DIFFERENT TYPES OF CUSTOMERS
CRITERIA FOR FORCING VIABLE MARKET SEGMENT
-IDENTIFIABLE (MODERN BRIDE CAN GET PEOPLE FROM BRIDAL REGISTRIES TO BE
INTERESTED) ACCESSIBLE (REACHABLE), SIGNIFICANT/SUBSTANTIAL (A GOOD SIZE),
RESPONSIVE (CUSTOMERS MUST READ POSITIVELY), HETEROGENOUS
-MULTI-YIGMANT SEGMENTI
-VALID GROUP NEEDS TO PAST TEST
UNDIFFERENTIATED TARGET MARKETING STRATEGY
, ADOPT A MASS MARKETING TYPE STRATEGY THAT VIEWS THE MARKET AS ONE LARGE
MARKET SEGMENT (NO INDIVIDUAL SEGMENTS, ONE MARKETING MIX). APPEAL TO WHAT IS
COMMON TO THE MARKET
ADVANTAGE OF UNDIFFERENTIATED MARKETING STRATEGY
POTENTIAL SAVINGS ON PRODUCTION AND MARKETING COSTS
DISADVANTAGE OF UNDIFFERENTIATED MARKETING STRATEGY
UNIMAGINATIVE PRODUCT OFFERINGS, COMPANY MORE SUSCEPTIBLE TO COMPETITION
DIFFERENTIATED TARGET MARKETING STRATEGY
ADOPT A MULTI - SEGMENT APPROACH THAT CHOOSES MORE THAN ONE SEGMENT TO
TARGET, BUT DEVELOP A SPECIAL MARKETING MIX FOR EACH SEGMENT CHOSEN, MULTIPLE
NICHE MARKETING, SPECIFIC PRODUCT MARKETING (FOUR SEGMENTS)
ADVANTAGE FOR DIFFERENTIATED MARKETING STRATEGY
GREATER FINANCIAL SUCCESS, ECONOMIC OF SCALE
DISADVANTAGE FOR DIFFERENTIATED MARKETING STRATEGY
HIGH COSTS, CANNIBALIZATION (SALES THAT TAKE AWAY FROM YOURSELF)
CONCENTRATED MARKETING STRATEGY
NICHE (UNDIFFERENCED) MARKETING, ONE SEGMENT IS CHOSEN AND A MARKETING MIX IS
DEVELOPED TO CATER TO THIS TARGET (PRODUCT 1, SEGMENT 2)
ADVANTAGE OF CONCENTRATED MARKETING STRATEGY
CONCENTRATION OF RESOURCES, MEETS NARROWLY DEFINED SEGMENT, SMALL FIRMS CAN
COMPETE, STRONG POSITIONING
DISADVANTAGES OF CONCENTRATED MARKETING STRATEGY
FREQUENTLY ASKED
QUESTIONS WITH VERIFIED
SOLUTIONS 100% CORRECT
2026/2027 STUDY
THREE STEPS IN DEVELOPING SUCCESSFUL MARKETING PLAN
1) DEVELOP CLEAR UNDERSTANDING OF CUSTOMERS
2) DEVELOP A PRODUCT AND MARKETING MIX THAT IS SENSITIVE TO THE DESIRE AND NEEDS
OF CUSTOMERS
3) DEVELOP POSITIONING STRATEGY THAT DIFFERENTIATES PRODUCT FROM COMPETITIVE
ALTERNATIVES
TARGET MARKETING
PROCESS OF CHOOSING A MARKET SEGMENT IN ORDER TO CONCENTRATE MARKETING
EFFORT (SELECTING OF THE SEGMENT AND THESE ARE THE ONES I WANT TO MARKET TO)
MAJORITY FALLACY
MOST MARKERS ARE ATTRACTED TO THE BIGGEST AND MOST LUCRATIVE SEGMENTS
BECAUSE THATS WHERE THE MOST BUSINESS CAN BE DONE... DOWNSIDE IS HAVE THE MOST
COMPETITION
MASS MARKETING
ONE PRODUCT SOLD AIMLESSLY TO ANY AND ALL PROSPECTIVE CUSTOMERS
PRODUCT DIFFERENTIATED MARKETING
,2 OR MORE DIFFERENTIATED FORMS OF THE SAME PRODUCT SOLD AIMLESSLY TO ANY AND
ALL PROSPECTIVE CUSTOMERS
TARGET MARKETING PURPOSE
MARKETER DISTINGUISHES BETWEEN DIFFERENT TYPES OF CUSTOMERS AND THEN CHOOSES
ONE OR A FEW TO CONCENTRATE THEIR EFFORTS. ACTUALLY DEVELOP A MARKETING MIX TO
APPEAL AND CATER TO EACH SPECIFIC SEGMENT CHOSEN
MARKETING SEGMENTS REQUIRE ...
MARKETERS TO LOOK FOR SIMILAR TRAITS THAT WILL ALLOW FOR SUB GROUPING
(MEMBERS OF THE SAME ONE HAVE SAME TENDENCIES IN BUYING TASTES/HABITS)
MARKETING SEGMENTING IS IMPORTANT BECAUSE...
-ENABLES MARKETERS TO IDENTIFY GROUPS OF CUSTOMERS THAT SHARE SIMILAR TASTES,
PREFERENCES AND BUYING BEHAVIOR
-PROVIDES VALUABLE INFO THAT CAN HELP IN THE DEIGN OF EFFECTIVE MARKETING
STRATEGIES
-MAY RESULT IN DISCOVERY OF MARKETING OPPORTUNITIES BY REVEALING VIABLE
SEGMENTS THAT ARE PRESENTLY UNSATISFIED
-FORCES MARKETERS TO LOOK AT DIFFERENT TYPES OF CUSTOMERS
CRITERIA FOR FORCING VIABLE MARKET SEGMENT
-IDENTIFIABLE (MODERN BRIDE CAN GET PEOPLE FROM BRIDAL REGISTRIES TO BE
INTERESTED) ACCESSIBLE (REACHABLE), SIGNIFICANT/SUBSTANTIAL (A GOOD SIZE),
RESPONSIVE (CUSTOMERS MUST READ POSITIVELY), HETEROGENOUS
-MULTI-YIGMANT SEGMENTI
-VALID GROUP NEEDS TO PAST TEST
UNDIFFERENTIATED TARGET MARKETING STRATEGY
, ADOPT A MASS MARKETING TYPE STRATEGY THAT VIEWS THE MARKET AS ONE LARGE
MARKET SEGMENT (NO INDIVIDUAL SEGMENTS, ONE MARKETING MIX). APPEAL TO WHAT IS
COMMON TO THE MARKET
ADVANTAGE OF UNDIFFERENTIATED MARKETING STRATEGY
POTENTIAL SAVINGS ON PRODUCTION AND MARKETING COSTS
DISADVANTAGE OF UNDIFFERENTIATED MARKETING STRATEGY
UNIMAGINATIVE PRODUCT OFFERINGS, COMPANY MORE SUSCEPTIBLE TO COMPETITION
DIFFERENTIATED TARGET MARKETING STRATEGY
ADOPT A MULTI - SEGMENT APPROACH THAT CHOOSES MORE THAN ONE SEGMENT TO
TARGET, BUT DEVELOP A SPECIAL MARKETING MIX FOR EACH SEGMENT CHOSEN, MULTIPLE
NICHE MARKETING, SPECIFIC PRODUCT MARKETING (FOUR SEGMENTS)
ADVANTAGE FOR DIFFERENTIATED MARKETING STRATEGY
GREATER FINANCIAL SUCCESS, ECONOMIC OF SCALE
DISADVANTAGE FOR DIFFERENTIATED MARKETING STRATEGY
HIGH COSTS, CANNIBALIZATION (SALES THAT TAKE AWAY FROM YOURSELF)
CONCENTRATED MARKETING STRATEGY
NICHE (UNDIFFERENCED) MARKETING, ONE SEGMENT IS CHOSEN AND A MARKETING MIX IS
DEVELOPED TO CATER TO THIS TARGET (PRODUCT 1, SEGMENT 2)
ADVANTAGE OF CONCENTRATED MARKETING STRATEGY
CONCENTRATION OF RESOURCES, MEETS NARROWLY DEFINED SEGMENT, SMALL FIRMS CAN
COMPETE, STRONG POSITIONING
DISADVANTAGES OF CONCENTRATED MARKETING STRATEGY
