Marketing 351 Exam 2 2023 with 100% correct answers
set of buyers who have some interest in the product - correct answer -Market measurable, accessible, responsive, and substantial (MARS) - correct answer -Segmentation must be judging how large the market is and how many customers are in that market - correct answer -Measureable judging how to reach and identify your market - correct answer -Accessible the awareness to make the marketing strategy different for each segment - correct answer -Responsive market must be large enough that people buy enough of the product for the firm to be profitable - correct answer -Substantial very widely used and easy to get - correct answer -Demographics used in segmenting the market for instance: east coast or west coast; small town or big city - correct answer -Geographics used in segmenting the market when a customers seeks different benefits the same product. Markets for a product may be segmented based on what customers are seeking from it. - correct answer -Benefits-Sought used in segmenting the market
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