BUAD 332 Exam 2-Mark Moon Questions
And Answers Latest Update | Solved
2025
Goal of Customer- Driven marketing strategy CORRECT ANSWERS to create VALUE
for targeted customers
Market Segmentation CORRECT ANSWERS Dividing a market into smaller groups with
distinct needs, characteristics, or behaviors that might require separate marketing
strategies or mixes.
(taking heterogeneous customers and dividing them into more homogeneous groups)
selecting customers to serve CORRECT ANSWERS - "Who is our customer?"
-Selecting customers to serve using segmentation and targeting
-We cannot make any other decisions as marketers until we figure this out.
deciding on a value proposition CORRECT ANSWERS -"What do our customers think
about when they think of us?"
-Differentiation and Positioning
Key market segmentation variables CORRECT ANSWERS -geographic (region, state,
density, climate)
-demographic (gender, age, etc)
-psychographic
-behavioral
(no single way to segment is best. often we combine MORE THAN ONE)
demographic segmentation CORRECT ANSWERS dividing the market into segments
based on variables such as age, life-cycle stage, gender, income, occupation,
education, religion, ethnicity, and generation.
MOST POPULAR basis for segmentation
easier to measure than most variables
gender segmentation CORRECT ANSWERS -often requires different products
variations for men and women.
-neglected segments can offer new opportunities
Income segmentation CORRECT ANSWERS Identifies and targets the affluent for
luxury goods.
, People with lower levels can be a lucrative market.
Some manufacturers have different grades of products for different markets. (Honda
and Acura)
psychographic segmentation CORRECT ANSWERS Dividing a market into different
groups based on social class, lifestyle, or personality characteristics.
Behavioral Segmentation CORRECT ANSWERS Dividing buyers into groups based on
consumer attitudes, uses, or responses to a product
(ex: non-users, ex users, first-time users
light usage, medium usage, heavy usage
loyalty status)
Multiple Segmentation CORRECT ANSWERS -Marketers will frequently use more than
one segmentation variable
-Use bases in order to identify smaller, better-defined target groups.
-Start with a single base and then expand to other bases.
-The goal: Create a homogeneous customer group that might be a good target for
marketing activity
Segmenting Business Markets CORRECT ANSWERS -use many of the same variables
as consumer marktetsfor segmentation.
-can also use:
Operating characteristics
Purchasing approaches
Situational factors
Personal characteristics
Effective Segmentation CORRECT ANSWERS must be:
measurable,
accessible,
substantial,
differentiable,
actionable
Targeting CORRECT ANSWERS Selecting the market segments that will become the
chosen areas of opportunity
And Answers Latest Update | Solved
2025
Goal of Customer- Driven marketing strategy CORRECT ANSWERS to create VALUE
for targeted customers
Market Segmentation CORRECT ANSWERS Dividing a market into smaller groups with
distinct needs, characteristics, or behaviors that might require separate marketing
strategies or mixes.
(taking heterogeneous customers and dividing them into more homogeneous groups)
selecting customers to serve CORRECT ANSWERS - "Who is our customer?"
-Selecting customers to serve using segmentation and targeting
-We cannot make any other decisions as marketers until we figure this out.
deciding on a value proposition CORRECT ANSWERS -"What do our customers think
about when they think of us?"
-Differentiation and Positioning
Key market segmentation variables CORRECT ANSWERS -geographic (region, state,
density, climate)
-demographic (gender, age, etc)
-psychographic
-behavioral
(no single way to segment is best. often we combine MORE THAN ONE)
demographic segmentation CORRECT ANSWERS dividing the market into segments
based on variables such as age, life-cycle stage, gender, income, occupation,
education, religion, ethnicity, and generation.
MOST POPULAR basis for segmentation
easier to measure than most variables
gender segmentation CORRECT ANSWERS -often requires different products
variations for men and women.
-neglected segments can offer new opportunities
Income segmentation CORRECT ANSWERS Identifies and targets the affluent for
luxury goods.
, People with lower levels can be a lucrative market.
Some manufacturers have different grades of products for different markets. (Honda
and Acura)
psychographic segmentation CORRECT ANSWERS Dividing a market into different
groups based on social class, lifestyle, or personality characteristics.
Behavioral Segmentation CORRECT ANSWERS Dividing buyers into groups based on
consumer attitudes, uses, or responses to a product
(ex: non-users, ex users, first-time users
light usage, medium usage, heavy usage
loyalty status)
Multiple Segmentation CORRECT ANSWERS -Marketers will frequently use more than
one segmentation variable
-Use bases in order to identify smaller, better-defined target groups.
-Start with a single base and then expand to other bases.
-The goal: Create a homogeneous customer group that might be a good target for
marketing activity
Segmenting Business Markets CORRECT ANSWERS -use many of the same variables
as consumer marktetsfor segmentation.
-can also use:
Operating characteristics
Purchasing approaches
Situational factors
Personal characteristics
Effective Segmentation CORRECT ANSWERS must be:
measurable,
accessible,
substantial,
differentiable,
actionable
Targeting CORRECT ANSWERS Selecting the market segments that will become the
chosen areas of opportunity
