Marketing 300 exam 2 Questions and Answers 2025
Market segmentation - -involves dividing a market into smaller segments of buyers with
distinct needs, characteristics, or behaviors that might require separate marketing
strategies or mixes
-Market targeting - -evaluating each market segment's attractiveness and selecting one or
more market segments to enter
-Ways to segment a market - -Geographically
Demographically
Psychographically
Behavioral
-Steps in segmentation process - -measurable
accessible
substantial
differential
Actionable
-Undifferentiated - -marketing targets the whole market with one offer
-Differentiated marketing - -targets several different market segments and designs
separate offers for each
-Concentrated marketing - -targets a small share of a large market
-Micromarketing - -is the practice of tailoring products and marketing programs to suit
the tastes of specific individuals and locations
-Local marketing - -involves tailoring brands and promotion to the needs and wants of
local customer groups
-Individual marketing - -involves tailoring products and marketing programs to the needs
and preferences of individual customers
-Positioning - -Choosing the right competitive advantages
-Differentiation - -Identifying a set of possible competitive advantages to build a position
by providing superior value from
-Product - -Anything that can be offered in a market for attention, acquisition, use, or
consumption that might satisfy a need or want
-Service - -an activity for sale that cannot be owned
Market segmentation - -involves dividing a market into smaller segments of buyers with
distinct needs, characteristics, or behaviors that might require separate marketing
strategies or mixes
-Market targeting - -evaluating each market segment's attractiveness and selecting one or
more market segments to enter
-Ways to segment a market - -Geographically
Demographically
Psychographically
Behavioral
-Steps in segmentation process - -measurable
accessible
substantial
differential
Actionable
-Undifferentiated - -marketing targets the whole market with one offer
-Differentiated marketing - -targets several different market segments and designs
separate offers for each
-Concentrated marketing - -targets a small share of a large market
-Micromarketing - -is the practice of tailoring products and marketing programs to suit
the tastes of specific individuals and locations
-Local marketing - -involves tailoring brands and promotion to the needs and wants of
local customer groups
-Individual marketing - -involves tailoring products and marketing programs to the needs
and preferences of individual customers
-Positioning - -Choosing the right competitive advantages
-Differentiation - -Identifying a set of possible competitive advantages to build a position
by providing superior value from
-Product - -Anything that can be offered in a market for attention, acquisition, use, or
consumption that might satisfy a need or want
-Service - -an activity for sale that cannot be owned
