100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
MGT 103: Chapter 9 (STP) Questions And Answers $13.99   Add to cart

Exam (elaborations)

MGT 103: Chapter 9 (STP) Questions And Answers

 2 views  0 purchase
  • Course
  • MGT 103
  • Institution
  • MGT 103

MGT 103: Chapter 9 (STP) Questions And Answers Segmentation: Linking Needs to Actions The process of segmenting a market and selecting specific segments as targets is the link between the various buyers' needs and the organization's marketing program - leads to tangible marketing actions th...

[Show more]

Preview 2 out of 10  pages

  • October 23, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MGT 103
  • MGT 103
avatar-seller
UpperClass
MGT 103: Chapter 9 (STP) Questions And
Answers

Segmentation: Linking Needs to Actions The process of segmenting a market and

selecting specific segments as targets is the link between the various buyers' needs and the

organization's marketing program




- leads to tangible marketing actions that can increase sales and profitability




market-product grid a framework to relate the market segments of potential buyers to

products offered or potential marketing actions




When and How to Segment Markets - a business segments its markets *when* it expects

that this extra effort will increase its sales, profit, and return on investment

- when expenses > potentially increased sales from segmentation, a firm should *not* attempt to

segment its market




1. One Product and Multiple Market Segments

2. Multiple Products and Multiple Market Segments (Ford having multiple models)

3. Segments of One (Mass Customization)

, MGT 103: Chapter 9 (STP) Questions And
Answers
One Product and Multiple Market Segments Pros: Avoids the extra costs of developing

and producing additional versions of the product.




Example: Magazines/Books

- Although separate covers for magazines or separate advertisements for books (to attract the

different market segments) are expensive, these expenses are minor compared with the costs of

producing multiple versions of magazines or books for several different market segments




Multiple Products and Multiple Market Segments Example: Ford's different lines of cars,

SUVs, and pickup trucks are each targeted at a different type of customer




Pros: very effective if it meets customers' needs better, doesn't reduce quality/increase price, and

adds to sales revenues and profits




Cons: The proliferation of different models and options can reduce quality and raise prices—

especially in relation to foreign imports (this is why Ford reduce the number of models/options

they have)

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller UpperClass. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

85443 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.99
  • (0)
  Add to cart