Exam 2 MKT 3340 WITH VERIFIED SOLUTIONS

undifferentiated targeting strategy correct answersA strategy in which an organization designs a single marketing mix and directs it at the entire market for a particular product Variables for Segmenting Consumer Markets correct answers1. Demographic variables 2. Geographic variables 3. Psychographic variables 4. Behavioristic variables Sales Estimates correct answers Developing Sales Forecast correct answers Steps for Selecting a Target Market correct answers1. Identify the Appropriate Targeting Strategy 2. Determine Which Segmentation Variables to Use 3. Develop Market Segment Profiles 4. Evaluate Relevant Market Segments 5. Select Specific Target Markets What Are Markets? correct answersGroups of individuals and/or organizations that have: 1. Desire or needs for products in a product class 2. Ability, willingness, and authority to purchase such products Step 3: Develop Market Segment Profiles correct answersDescribes the similarities among potential customers within a segment Explains the differences among people and organizations in different segments