MKTG 201 MIDTERM 2 BYU (100% VERIFIED ANSWERS)

Marketing Segmentation correct answers Process of grouping customers into relatively homogeneous segments Customers within a segment respond similarly to the marketing effort directed at them Criteria for Effective Segmentation correct answers Measurable Accessible Durable Substantial Unique Needs Effective Segmentation--Measurable correct answers Individuals can be assigned to a segment and counted Effective Segmentation--Accessible correct answers Individuals in the segment can be reached through the company's promotion/distribution channels Effective Segmentation--Durable correct answers Segment membership is relatively constant Effective Segmentation--Substantial correct answers Segment is large enough to make products profitable Effective Segmentation--Unique Needs correct answers Needs are homogeneous within segments and heterogeneous across segments Ways to segment the market (from most useful to least) correct answers geographic, demographic, psychographic, behavioral Geographical Segmentation correct answers dividing a market into different geographical units, such as nations, states, regions, counties, cities, densities, climate, or even neighborhoods Demographic Segmentation correct answers segmenting markets by age, gender, income, ethnic background, occupation Psycho-graphic Segmentation correct answers Personality traits, values, attitudes, interests, and lifestyles. A profile about how people view the world, the things that interest them, and what causes them to take action. Behavioral Segmentation correct answers Usage situations, benefits The Diffusion Process correct answers Describes how potential customers learn about new products, try them, and adopt or reject them.