LSUS Chen- Final Exam MBA 706
Questions and Answers 100% Pass
Market Sementation - CORRECT ANSWER-Process of dividing consumers into
groups with similar consumer characteristics and product needs.
- Single product or marketing approach cannot appeal to the needs and wants of all
customers
- Market segmentation allows managers to break the market into small manageable
groups, so that firms can tailor their offerings to satisfy different needs and wants
3 Marketing strategies - CORRECT ANSWER-- Undifferentiated or mass
marketing
- Product- variety or differentiated marketing
- Target or concentrated marketing
Undifferentiated/mass marketing - CORRECT ANSWER-- Firms sell a single
product (with same marketing approach) to all consumers (instead of segmenting
the market and offering customized products)
,- PRO: Economies of scale in production, promotion, and distribution
- Con: Intense competition and more sophisticated consumers
Ex: Ford's Model T, Black and Decker
Product -Variety/ Differentiated Marketing - CORRECT ANSWER-- Firms
provide a wide variety of differentiated offerings to different segments (sometimes
to all consumers)
- PRO: Greater Variety to consumers
- Con: Increased Costs
Ex: Coke
Targeted/ Concentrated marketing - CORRECT ANSWER-- Usually firms ID the
major market segments, and then target a single segment with a single marketing
mix
- PRO: Concentrated efforts to that specific segment: control cost to appeal only
to that primary target segment
- CON: possibility of missed opportunities: vulnerable to competition
Ex: Piano makers
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
, Multiple segmentation - CORRECT ANSWER-Firms target different segments
with a unique marketing mix for each segment
Procedures of segmentation - CORRECT ANSWER-- Survey Stage: understand
consumer motivations, attitudes, and behavior
- Analysis Stage: ID consumer groups with similar characteristics
- Profiling stage: Profile each group in terms of their attitudes, behavior,
demographics, psychographics, and media habits.
Factors affecting the feasibility of segmentation: - CORRECT ANSWER--
measurable: data should be available to evaluate the attractiveness of the segment
- Accessible: to firms
- Substantial: large and valuable
- Unique: distinguishable form other segments
- Appropriate: Should align with firms objective's and resources
- Stable: firms should be able to predict the behavior of the segment in the future
Bases for segmentation - CORRECT ANSWER-- Geographic & geodemographic
- demographic
- behavioral
- psychographic
Questions and Answers 100% Pass
Market Sementation - CORRECT ANSWER-Process of dividing consumers into
groups with similar consumer characteristics and product needs.
- Single product or marketing approach cannot appeal to the needs and wants of all
customers
- Market segmentation allows managers to break the market into small manageable
groups, so that firms can tailor their offerings to satisfy different needs and wants
3 Marketing strategies - CORRECT ANSWER-- Undifferentiated or mass
marketing
- Product- variety or differentiated marketing
- Target or concentrated marketing
Undifferentiated/mass marketing - CORRECT ANSWER-- Firms sell a single
product (with same marketing approach) to all consumers (instead of segmenting
the market and offering customized products)
,- PRO: Economies of scale in production, promotion, and distribution
- Con: Intense competition and more sophisticated consumers
Ex: Ford's Model T, Black and Decker
Product -Variety/ Differentiated Marketing - CORRECT ANSWER-- Firms
provide a wide variety of differentiated offerings to different segments (sometimes
to all consumers)
- PRO: Greater Variety to consumers
- Con: Increased Costs
Ex: Coke
Targeted/ Concentrated marketing - CORRECT ANSWER-- Usually firms ID the
major market segments, and then target a single segment with a single marketing
mix
- PRO: Concentrated efforts to that specific segment: control cost to appeal only
to that primary target segment
- CON: possibility of missed opportunities: vulnerable to competition
Ex: Piano makers
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
, Multiple segmentation - CORRECT ANSWER-Firms target different segments
with a unique marketing mix for each segment
Procedures of segmentation - CORRECT ANSWER-- Survey Stage: understand
consumer motivations, attitudes, and behavior
- Analysis Stage: ID consumer groups with similar characteristics
- Profiling stage: Profile each group in terms of their attitudes, behavior,
demographics, psychographics, and media habits.
Factors affecting the feasibility of segmentation: - CORRECT ANSWER--
measurable: data should be available to evaluate the attractiveness of the segment
- Accessible: to firms
- Substantial: large and valuable
- Unique: distinguishable form other segments
- Appropriate: Should align with firms objective's and resources
- Stable: firms should be able to predict the behavior of the segment in the future
Bases for segmentation - CORRECT ANSWER-- Geographic & geodemographic
- demographic
- behavioral
- psychographic
