Exam (elaborations)
BUSML 3250-CHAPTER 7 EXAM QUESTIONS AND ANSWERS
- Course
- Institution
BUSML 3250-CHAPTER 7 EXAM QUESTIONS AND ANSWERS
[Show more]
Content preview
BUSML 3250-CHAPTER 7 EXAMQUESTIONS AND ANSWERS
Objective 7-1 - Answer-Marketing Strategy
Steps for a customer value-driven strategy - Answer-1. Market Segmentation
2.Market Targeting
3.Differentiation
4.Positioning
Objective 7-2 - Answer-Market segmentation
Major Segmentation Variables - Answer-1. Geographic
2. Demographic
3. Psychographic
4. Behavioral
Geographic Segmentation - Answer-segmenting markets by region of a country or the
world, market size, market density, or climate
Demographic segmentation - Answer-segmenting markets by age, gender, income,
ethnic background, and family life cycle
Age and life-cycle segmentation - Answer-dividing a market into different age and life-
cycle groups
Gender segmentation - Answer-dividing a market into different segments based on
gender
Income segmentation - Answer-dividing a market into different income groups
Psychographic segmentation - Answer-dividing a market into different segments based
on social class, lifestyle, or personality characteristics
Behavioral Segmentation - Answer-dividing a market into segments based on consumer
knowledge, attitudes, uses of a product, or responses to a product
Occasion Segmentation - Answer-dividing the market into segments according to
occasions when buyers get the idea to buy, actually make their purchase, or use the
purchased item
Benefit Segmentation - Answer-dividing the market into segments according to the
different benefits that consumers seek from the product
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 lectknancy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now