Segmentation variables Study guides, Class notes & Summaries

Marketing in the Digital Era D373 WGU OA Revised Exam Test Questions &Verified Correct Answers < Already Passed>Updated< Target customers - ANSWER : Customers based on a predefined geographic boundary Market segmentation - ANSWER : Dividing a market through variables such as age, gender, education level, family size, occupation, income, and more Psychographic - ANSWER : Focus on the intrinsic traits the target customer has, such as values, personalities, interests, a...

Producers of popular beverages often partner with global music channels to target consumers through a variety of promotional events and advertisements. This approach to marketing is referred to as ________ segmentation. correct answers intermarket One reason demographic variables are the most popular bases for segmenting customer groups is because they ________. correct answers are easier to measure than other variables Which of the following is an approach where firms target a whole marke...

ARE 136 CH 6 | 92 Questions and Answers with Correct Answers 2024. 1. When a brand team defines the target market of consumers for their product, they may also identify many smaller subsets of consumers within their broad market. a. True b. False - a. True 2. In the world of advertising, markets are positioned, but products are segmented. a. True b. False - b. False 3. STP marketing includes three factors—identifying, positioning, and informing. a. True b. False - b. False 4. If Gen...

An area on a perceptual map where there is a cluster of ideal points indicates a market segment. correct answer: True Strategy implementation affects top and middle managers but not lower-level employees. correct answer: False An example of a marketing decision is whether or not to limit the share of business done with a single customer. correct answer: True Editorial content and advertising content are increasingly being mixed on blogs. correct answer: True Market penetration ca...

MARK 3321 Final Exam with Complete Solutions Marketing Management Philosophies Four competing philosophies that stronly influence an organization's marketing processes. What are the four marketing management philosophies? Production, sales, market and societal. production orientation A philosophy that focuses on the internal capabilities of the firm rather than on the desires and need of the marketplace. Ex. furniture industry is infamous for diregarding their customers needs. ...

major segmentation variables (4) - ANS>(1) geographic, (2) demographic, (3) psychographic, (4) behavioral penetrated market - ANS>set of customers who are buying the company's product target market - ANS>qualified available market the company decides to pursue available market - ANS>set of consumers who have interest, income, and access to a particular offer potential market - ANS>set of consumer with a sufficient level of interest in a market offer corporate culture - AN...

HubSpot Inbound Marketing Certification Exam Prep (2024/ 2025 Update) 100% Correct Questions and Verified Answers Q: If you're trying to improve customer lifetime value, which phase should you focus on in your marketing flywheel? Answer: Delight - If you're looking to improve your customer retention, customer lifetime value, and referrals Q: Leveraging the data that's already accessible to you is a part of which step of implementing behavioral marketing and customer segmentati...

MKTG 3340 Exam 2 what does market segmentation do? - correct answer links market needs to an organization's marketing program what are the steps of market segmentation? - correct answer identify market needs > link needs to actions > execute marketing program what are the three foundations of modern marketing? - correct answer segment market, target market, positioning what do you do in a segment market? - correct answer divide larger markets into groups with similar needs and w...

Market Segmentation - aggregate consumers into groups (segments) that have similar needs and will react similarly to a marketing action Segmentation Strategies - - 1 product w/ multiple target segments (Johnson shampoo for dogs or babies, tums for calcium or antacid) - multiple products/ multiple segments (utility mini van vs. excitement sports car) - mass customization (dell built to order laptop) Criteria for effective market segmentation - 1. similarity of needs of potential ...

MBA MFT Study Cardsmajor segmentation variables (4) - ANSWER (1) geographic, (2) demographic, (3) psychographic, (4) behavioral penetrated market - ANSWER set of customers who are buying the company's product target market - ANSWER qualified available market the company decides to pursue available market - ANSWER set of consumers who have interest, income, and access to a particular offer potential market - ANSWER set of consumer with a sufficient level of interest in a market offer...