Demographic segmentation Study guides, Class notes & Summaries

Market Segmentation - correct answer The process of dividing consumers into groups with similar consumer characteristics and product needs. Market Segmentation - correct answer Allows managers to break the market into small manageable groups, so that firms can tailor their offerings to satisfy different needs and wants. Three Marketing Strategies - correct answer Undifferentiated (Mass Marketing), Differentiated (Product-Variety), Concentrated (Target) Undifferentiated (Mass Marketing) ...

COM 2740 Midterm review Liberty University Questions with complete solution COM 2740 Midterm review What is communication? - correct answer process that people through the use of symbols verbally or non-verbally, consciously or unconsciously, intentionally or non-intentionally generate meanings within and across various cultures and media. transfer of information from sender to receiver What are the different types of segmentation? - correct answer Geographic Demographic psychographic...

MARKETING 301 MIDTERM EXAM 2 – A1: QUESTION WITH ANSWERS 2023 1 Which of the following best describes positioning? A) dividing the market into smaller, meaningful groups of customers B) a promise to a group of customers C) evaluating and identifying a meaningful group of customers to serve D) creating a unique offering to provide customer value E) identifying a clear and distinct place in the customer's mind that the brand or company should occupy relative to the competition 2) W...

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...

Marketing 3410Market targeting - correct answer the process of evaluating each market segment's attractiveness and selecting one or more segments to enter Differentiation - correct answer Actually differentiating the firms market offering to create superior customer value Positioning - correct answer Arranging for a product to occupy a clear, distinctive and desirable place relative to competing prodcts in the minds of target consumers Geographic segmentation - correct answer Dividing ...

Wilcox Exam 3 – Lectures| Questions and Verified Solutions | Latest Update 2024/2025 | Graded A+ segmentation process today - Answer -1) define the promotion uses for segmentation 2) use geographic, demographic, and psychographic variables to create segments 3) predict response of market segments to products / media through behavioral segmentation 4) rank segments and addressing adv/pr only to segments with the greatest profit potential psychographic segmentation - Answer -purpose i...

1. New product ideas come from ____. a. internal sources, using company R&D b. external sources, listening to distributors and suppliers c. external sources, watching and listening to customers d. Both A and C e. All of the above are source of new product ideas - Answer-e. All of the above are source of new product ideas. Frequent purchases, little planning, low customer involvement, low prices, widespread distribution, and convenient locations are characteristics of ____. a. shopping p...

MKTG 3340 Exam 2 Practice Test 2024. Market Segmentation - correct answer aggregate consumers into groups (segments) that have similar needs and will react similarly to a marketing action Segmentation Strategies - correct answer - 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...

MFT: MBA QUESTIONS AND ANSWERS ALREADY PASSED The focal point of all marketing activities is customers The marketing mix is known by what other name? the four Ps Goods, services, or ideas offered in the exchange with customers are dealt with under the _____ category of the marketing mix product Making the product available to the customer in the right quantities and locations when the customer wants them is the definition for which of these marketing mix variable? place Many ...

MKTG 3340 Exam 2 Prediction Questions 2024. Market Segmentation - correct answer aggregate consumers into groups (segments) that have similar needs and will react similarly to a marketing action Segmentation Strategies - correct answer - 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 ef...